Good morning.

Lehman brothers ups the refiners this morning (gee you think they see something????) So Valero should be up and maybe the LP as well. Its more of the same with hurricane related news and pressures on the market this morning. XOI & XNG charts broke out to new highs yesterday so the ride continues.

Rigzone has a piece today on 15 dollar nat gas. Freakonmics has a copy of an email you might be getting about a 1 day boycott of buying gasoline to punish those evil oil companies who are obviously taking advantage of supply and demand factors to take all our money. I get into arguements with disingenious upper westside mostly white liberals about this and point out to them that if that really were the case( and it isn't)...nothing stops any of you in investing in the oil and gas industry. At the very least the gains in value more than offset the product you use. Usually that shuts them up.

The NY TIMES has a piece this morning on refineries and their problems. This is going to a mess for awhile buying gasoline. Yesterday on my drive down New Jersey i paid $2.59 in the morning and at the same station $2.89 in the afternoon. And the discounters who buy on the spot market now have higher prices than the chains! New York price near me was $3.39

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