I am sure your research has revealed the cost of RINs is rising dramatically; reserves for environmental and maintenance capital expenditures are increasing; reserves for major scheduled turnaround expenses is increasing, and reserves for future operating or capital needs is rising. Also, due to abnormally high crack spreads in the recent past, refiners have added capacity.
And you shouldn't #$%$ume that the market is a casino and investors are delusional. Those type of comments make you look like an #$%$.
It is a casino if that is what you want it to be. For me it is an opportunity to own a portion of great businesses. If you were ever an employer as opposed to an employee, you would understand that. When i want to gamble, I go to Vegas.
Good post. I believe there is nearly 200 days of inventory; utilities have virtually stopped taking coal, so miners will have to stop producing.
The consensus on this board seems to be for a Q1 cut in the distribution. If that is correct, has it already been factored in, or does the stock get hammered?