MRC?

Q3 MRC numbers should add 2 to 4 cents to CLL net cash flow. The number is fuzzy due to the exchange rate.

As a total contribution to CLL corporation (free cash flow) the MRC is still in the minus territory as it spend more on itself then contributed to the corporation acct.

So far yours and sharky`s Q4 MRC assumption are wrong. This is a negative surprise to me as well.

September/October 1-2-3 crack is terrible reaching a negative level (gasoline sold below the cost of production). Yesterday RBOB (gasoline contract- in bbl) was trading about $10 below the Oil.

This is what the Suncor CEO Rick George said on Oct 23/2008:

"We should actually see a number of U.S. refineries shut down," George said on a conference call. "Some of the weak refiners will go out of business."

George said he expects some U.S. refiners won't survive the economic turmoil spawned by the credit crunch and falling demand for gasoline".