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To: thackney
As far as I know, that is feasible, but I have no knowledge of anyone doing so.

Most current production is on contract, and was sold when prices were higher in the futures market. In that situation, cutting back will happen later (when that deal is over and new rates are negotiated), if at all. Those rates are locked in for the duration of those contracts, which may be part of the reason gasoline prices don't move down as fast as oil prices.

84 posted on 12/12/2014 6:07:31 AM PST by Smokin' Joe (How often God must weep at humans' folly. Stand fast. God knows what He is doing.)
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To: Smokin' Joe
Most current production is on contract, and was sold when prices were higher in the futures market.

Great thanks for that info.

85 posted on 12/12/2014 6:12:01 AM PST by thackney (life is fragile, handle with prayer.)
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