Friday, September 09, 2005

Who to be pissed at when filling your gas tank

What follows is an excerpt from a Slate about profits of refineries in the oil industry. The kinda thing that can really open your eyes.

In a matter of days, then, the spread between the cost of crude and the finished product expanded rapidly. And as a result, refiners' margins have grown dramatically. In his column (subscription required) last week, Barron's editor Alan Abelson posted a chart that showed the cracking spread spiking from about $10 per barrel in late August to above $40 per barrel in Katrina's wake.

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