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$40 The list of oil refineries being built around the world continues to grow. Do I smell $40 oil in the not too distant future? It will be three years before many of these new plants are built, but according to Exxon(XOM) there is a $20 speculation premium currently built in the price of oil. Sounds like we could get to $40 well before the actual fuel hits the market.
Thursday, November 17, 2005
JAPAN TO BUILD REFINERY IN INDONESIA
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