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Magellan Midstream Partners LP Message Board

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  • rrb1981 rrb1981 Dec 29, 2008 5:40 PM Flag

    Keep the powder dry until Q4 earnings

    Actually, I expect gasoline consumption to be down on the order of around 5%-7%. The sudden drop in prices is helping restore the previous demand destruction. Also, just to let you know, they are blending ethanol for the distributor, not the ethanol producer. Since, Magellan is presumably purchasing the ethanol and then blending it and then billing for the cost of the ethanol plus the blending fee (remember, it is a cost plus service), they should have very little risk to ethanol producers going bk.

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