Oil Refining profit?

[Jeremy_S]

Break even price is $35.00 if they are ultra lean.

This is the truth. We operate 100% in the black and have no debt, still working 8 rigs barely, but we are no longer making money. It's keeping it flowing and hoping it comes back soon. We've cut so deeply I'm currently both a pipeline operator over 35 miles of pipeline and around 32 3516 Cat compressors as well as a plant operator in a NGL plant moving 122 MMCF a day.

And doing both of these jobs is paying me 25k less a year than I was making 12 months ago just running 50 miles of pipeline and around 45 compressors.

It's hurting all around. People like to talk about how epic the low gas prices are for the "working man". Guess, what, I and sooooo many more like me are the working man. And when we take cuts every one else does. There is a waitress in Burleson at Fresca's that's taken around a 2000 a year pay cut because of oil prices and that's just from me. I like to eat there, I tip well, and normally would eat there multiple times a week and leave a 20ish dollar tip. She's got to earn a living too and she gives good service. That's how this works.

Well now I'm not making as much as I have to cut back so I eat there once a month, that's a big hit, believe me. Just the way it is. So the 50 bucks she's saving a month at best in gas prices is costing her 180 probably in tips.

I think she (and many others) would rather pay for the gas.

[Jeremy_S]

diesel, jet fuel,

Same thing, seriously. We ran JP5/JP8 in our trucks constantly when I was in the Corps. All the sampled fuel each day from all the aircraft goes into drums, we would put those sampled drums into our trucks.

[hchntr]

Doesn't the crack spread set the market and the Refiners adjust according to that.

[venado]

Old but likely still in the ball park.