Replies to post #8244 on United American Petroleum Corp (UAPC)

[geocam]

Oil... the Price of Oil is weighing this down.


The sad thing is, it is not reflecting at the pump.
http://www.latimes.com/business/la-fi-gas-prices-20150713-story.html

Prices have risen 50 cents a gallon from a week ago in the Los Angeles-Long Beach region amid a shortage of refined petroleum, according to the Automobile Club of Southern California.

The Tesoro Corp. plant in Carson, for instance, just reduced its refining capacity to perform maintenance. That followed Tesoro's move in February to idle its Northern California refinery in Martinez after a nationwide union walkout. Then Exxon Mobil Corp. scaled back operations at its Torrance facility after an explosion in February damaged an air pollution monitoring unit.

If Iran gets its sanctions lifted and they move from the grey market to the open market there will be a lot of downward pressure on the price of oil. I imagine there will be more refineries taken offline for 'maintenance'.

I'm buying 'water' in order to offset my losses in 'oil'.