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The Great Depression

  • Benjamin Roth: The Great Depression: A Diary

    Benjamin Roth: The Great Depression: A Diary
    It's all here, times change people don't -the endless govt programs that fail to stimulate the private sector -the ups and downs of the economy, the veterans pension stimulates just as the housing credit did, until of course the money runs out -Roth is a attorney in Youngstown Ohio who kept a diary regarding the economy from 1930 until WW II breaks out, he is objective, candid, and forthright which is more than we get from Washington DC now or then highly recommended

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August 26, 2019

Refiners

Monday August 26 2019

An article on the last page of today's WSJ warns that electric cars may make half of all cars on the road by  2040.

I have noted the weakness in refiners. And this weekend we see reports that the Keystone Pipeline is finally approved.


This means more oil than ever will flow to Texas  Gulf Coast Refineries. But all that refined oil may find increasingly smaller markets.

CRAK Refiner ETF

' Screen Shot 2019-08-26 at 9.54.48 AM

Valero VLO

Screen Shot 2019-08-26 at 9.58.12 AM

VLO is trading  at 62% of last year's high, the market is seeing something,  Refiners make money on the spread between the price fo oil and the refined product, not just the oil price.

Posted at 10:58 AM in Energy |

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