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Senior Member (too much time on their hands)
The biggest was the change to gov policies regarding financing of refineries and exploration. It hit them at a bad time. We were already losing refining capacity when the changes were made. And to be honest Wall St. has fostered a culture where it recovering on its own is doubtful.
And just to show how put of touch these guys are they are hitting producers with an increase to ethanol required in mixes. You get added cost/prices and a more fragile production process. Madness.
I could go on. They really have been busy.
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