(Bloomberg) -- Li Ka-shing and Thomas Barrack have
found a way to make more money from record gasoline prices than
Marathon Oil Corp. and Royal Dutch Shell Plc.
The billionaires are buying refineries in Europe and the
U.S. for about $12,000 per barrel of processing capacity, 33
percent less than the oil companies pay to build them along the
Gulf of Mexico. Charges for contractors, labor, cement and steel
have doubled and the new plants are years away from completion.
Read more at Bloomberg Exclusive News
found a way to make more money from record gasoline prices than
Marathon Oil Corp. and Royal Dutch Shell Plc.
The billionaires are buying refineries in Europe and the
U.S. for about $12,000 per barrel of processing capacity, 33
percent less than the oil companies pay to build them along the
Gulf of Mexico. Charges for contractors, labor, cement and steel
have doubled and the new plants are years away from completion.
Read more at Bloomberg Exclusive News
No comments:
Post a Comment