Curt Anastasio - Chief Executive Officer and President
From the last earnings transcript:
"We have a seven year contract with Venezuela that in fact they are honoring and we expect them to continue to honor. We don't have any indication at all to the contrary, it's a good deal for both sides."
COULD THE DEAL BE IN JEOPARDY? IF SO, IT'S OVER. COULD THIS HAVE ANYTHING TO DO WITH THE DRAMATIC AND SUSTAINED PLUNGE AT A 4 YEAR LOW?
Entering into any agreement with Chavez is very risky and the recent report stated the asphalt refinery in South Carolina used a grade or grades of oil specific to Venezuela. The current price of any grade of oil would just about kill the profit of an asphalt operation. But then again, where else can Hugo sell it?
Calm down. If you can't handle the plunge, sell out and put your money in CDs. Oherwise, quit inundating the board with useless babble. Have you actually done any due dilligence? Did you listen to the archived presentation and look at the accompaning slides? There are other sources of low geade crude available. Greehey is no dummy, he knows what he is doing. He built Valero into a powerhouse refiner by buying at the bottom of cycles and riding them out.
yea im well aware of taxes, mlps should be looked at like bonds, if its current yield spread closes between the prevailng interest rate its maybe time to sell, I dont let capital gain or loss affect my decisions, not at that level yet
All are legit factors, but, if you research the MLP's back to 2003/04 you might find that the American Jobs Creation Act of 2004 that allowed mutual funds to own MLP's up to 25% of their fund but no more that 10% of any MLP and the fact that MLP hedge funds have cropped up that have moved off-shore to avoid the FIRPT, have caused the current volatility in MLP's. Prior to the AJCA in 2003, if you research the volume in MLPs from 2003 to 2005, you will find where the volume began to dramatically increase as these entities began to be players in what once was a very thinly traded area.
if a hedge fund comes in and drives this stock to $70 again, Im taking the profit, and then watch for another entry point. The only bearish outside influence on this stock, is if the fed dramaticly raises interest rates to fight off inflation
4 year low is $36 range, Kmp is down also last few days , ns is mostly unknown under traded mlp, which makes it prone to up and down swings. Fundamentals are solid, and steady growth should continue.