One thing is for certain: If you only have two refineries and one of them goes down unexpectedly, you are in for a rough third quarter. That's exactly what happened to CVR Refining (NYSE:CVRR), but the pain didn't stop there. 

In this video, contributor Aimee Duffy takes a look at the problem of variable MLPs in the context of CVR Refining's recent earnings release, while illuminating the difference between the small refiner and its bigger peers like Western Refining (NYSE:WNR) and Marathon Petroleum (NYSE:MPC) when it comes to navigating headwinds in the industry.

Fool contributors Aimee Duffy and Tyler Crowe have no position in any stocks mentioned. The Motley Fool owns shares of Western Refining. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.