Whoa --this morning's futures are like what they were talking about on this related thread --sharp downward (presumably) on Ukraine --or central banks. Some folks call this situation a great short market, others think of it like a 'buying opportunity', imho this looks like the kind of excessive volatility that I try to avoid.
Ruble Weakens as Sanctions Risk Outweighs Surprise Rate Increase
Let's see...
The Ukraine crisis is already over, IMO, and Putin played chess while the Obama/Kerry crowd was playing checkers. In the financial world, it will amount to very little, IMO.
I buying opportunity to purchase stocks that are artificially pumped up with fictitious Federal reserve decimal points moved on computer screens? The market is 53% overvalued based on 10 year averages, and even that does not describe how precarious it really is (factor in debt, a worldwide Depression that we are fooling ourselves about, weak manufacturing, the looming retirement of millions of Baby Boomers, soaring health care costs, and on and on).
Related
Shale-Oil Boom Spurs Refining Binge
Higher U.S. Crude Production Has Valero, Marathon Increasing Capacity
By Ben Lefebvre
March 2, 2014 7:19 p.m. ET
U.S. refiners haven’t built a major new fuel-processing plant since 1976, in part because of environmental regulations. But a flood of oil from Texas, Oklahoma and North Dakota has companies rushing to expand existing plants and build small new processors around the country.
Valero Energy Corp. , Marathon Petroleum Corp. and other refiners are engineering ways to expand fuel-making capacity at their aging plants without the cost of building entirely new refineries to take advantage of the increase in light sweet crude flowing from U.S. wells.
The gasoline, diesel and other fuels they are producing can either be burned in the U.S. or sold around the world because they aren’t subject to the export ban Congress imposed on crude in the early 1970s.
American refiners are set to add at least 400,000 barrels of oil-refining capacity a day to existing plants between now and 2018, according to information compiled by The Wall Street Journal and the consulting firm IHS. That is the fuel-making equivalent of constructing a new, large-scale refinery.
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