August 10, 2012
The blaze that torched Chevron's 245,000 barrels of oil per day refinery is going to hit West Coast consumers in the pocketbook, with current estimates of $0.20 to $0.30 per gallon increases on their way. Chevron's Richmond, Calif., operation is responsible for 10% of the West Coast's refining capacity and without it demand for the remaining gasoline is going to soar. As investors, we are looking for other companies to step in and make sizable profits when opportunities arise. In this video, analyst Joel South talks about one refiner in particular that is positioned to increase its already profitable operations while Chevron scrambles to get its facility back into operation.
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