On the 8/5/2008 Caltex presentation
"USD refiner margins have remained solid in 2008 to date"
Caltex loses out on the strong AUD but the doom and gloom picture you paint of global margin squeeze and losses across teh board must have happened in the last couple of weeks.
Any way I hold Caltex so Its clear I am not interested in talking them down.- and of course anything can happen
You must have some time on your hands or you simply want to buy again soon at a low price - so talk them down - the usual story.
profits up, page-19
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