High Oil Prices Taking Toll on Refiners

No better proof of the speculatively driven oil market could possibly be seen than in the rash of refinery shutdowns and outright bankruptcies that have taken place in the last two years, the last being Tuesday's reported bankruptcy of Swiss-based Petroplus, Europe's biggest independent refiner. More on COP Natural Gas Will Dictate Oil Prices, Not Iranian Sanctions or OPECCramer's 'Mad Money'