Could be precarious sledding ahead again with Algar. Should we have hedged more? What happens if production ramps up and the economy and PPO tanks again as happened with GD? It doesn't seem likely, but it didn't seem likely the last time around either, and I hope there's some contingency planning going on.

I just am spooked after yesterday's Shell Oil 2009 report. " ... gas prices and refining margins have declined sharply, because of weaker demand and high industry inventory levels." and this "Downstream is facing some tough times. There is a significant overhang of industry refining capacity, exacerbated by the economic downturn."

-bbq