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Makes for an easy place to just choose not to compete very hard or not at all. No trader is going to spend much time figuring out ways to arbitrage gas into Michigan to capture the extra profit.
Same situation on the west coast. Few players, remote to re-supply markets, special specs reducing fungibility of the product, lack of 3rd party terminals to import through etc. FTC should never have allowed BP to buy Arco and Amoco or Exxon/Mobil or later Chev/Tex.
by HiD on Tue Aug 10, 2004 at 04:44:33 PM PDT
[ Parent ]
But that doesn't explain why MI is now relatively better off than it has been in 3 years. I'm not complaining, but I realize it doesn't make sense given the structure of the supply chain.
This is the way democracy ends Not with a bomb But with a gavel -Max Baucus
by emptywheel on Tue Aug 10, 2004 at 04:55:11 PM PDT
wide narrow
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