Burner3FS

[Burner3FS @burner3fs]

@ESGhound Not a fan?

[Burner3FS @burner3fs]

@toiletkingcap @McclartyPhilip Keep your head up and keep at it.

[Burner3FS @burner3fs]

@RINsAndReds How do you feel about it just tracking crack spreads for the past 6 months

[Burner3FS @burner3fs]

@RINsAndReds @toiletkingcap In the mean time you have to worry about a possible peace deal and even if that doesn’t happen flows seem to be pretty consistent out of the strait. I don’t see a reason to change course on current tactics, barring Trump impulsiveness or Iran decides to be the aggressor.

[Burner3FS @burner3fs]

@RINsAndReds @toiletkingcap That’s how it feels to me as well, I’m not even sure blow out earnings matter until we get proof it will break correlation from crack spreads.

[Burner3FS @burner3fs]

@RINsAndReds @toiletkingcap Feels like how it trades this week will be important. Otherwise it might be a slog for 6 months till Q1 earnings and a possible clean MRL quarter.

[Burner3FS @burner3fs]

@toiletkingcap Seems like consensus and even reporting a spike in refined products the first few days of November

[Burner3FS @burner3fs]

@donshawwa @variance_swap @Zerosumgame33 What do you feel is the upside to the stock now? I think I saw you had fair value at 55 a few weeks back. Also do you not feel the stock is just following crak spreads? In regards to MRL what are you thoughts regarding the damaged catalyst and how that affected margins

[Burner3FS @burner3fs]

@toiletkingcap I also found the company not capturing all the base oil potential a bit perplexing. Do you feel today’s results from earnings change the $100 2027 thesis (not the stock action today)

[Burner3FS @burner3fs]

@toiletkingcap Feels like it will only react to Trump
re-escalating the war with Iran, which isn’t really what I want to root for.

[Burner3FS @burner3fs]

@PraiseKek @toiletkingcap Cooked, cause it’s just following crak until it breaks trend no reason to think otherwise.

[Burner3FS @burner3fs]

@kaliva09 @Zerosumgame33 https://t.co/Rx4pZqWWhx

[🚽 🤴JRR ToiletBaron @toiletkingcap]

good question. in order of importance in my model:

🪠lubricant pricing was not passed through completely (100% -> 80% to kyeru's point)
🧻volume didnt ramp to full capacity for lubricants, which i assumed they would
🚽mrl ramp was slower due to issue (as mentioned on call)
that was 95% of miss

[Burner3FS @burner3fs]

@Zerosumgame33 Do you feel it’s more valuable to keep MRL or sell it over the long term?

[Burner3FS @burner3fs]

@toiletkingcap All generic stuff already known, but I’m just genuinely curious what he decides. As it ultimately is what’s driving clmt.

[Burner3FS @burner3fs]

@toiletkingcap I think the most interesting thing from here is what does Trump do with Iran. Does he just concede because it’s deeply unpopular or dig his heels in and start striking? Seems like anything energy related is smoked on the belief the war will be over soon.

[Burner3FS @burner3fs]

@toiletkingcap @grok @grok what is consensus on where cracks fall given the current global discourse on X. it is clear that $CLMT is tracking $CRAK so maybe understanding the bottoming of cracks and CRAK is the best way to call the bottom?

[Burner3FS @burner3fs]

@Zerosumgame33 @kaliva09 Pretty sure he means June, base oils really only started jumping in May and probably didn’t meaningfully hit the books until June, that’s why it’s 3.5 months.

[Burner3FS @burner3fs]

@toiletkingcap Not wrong, just early

[Burner3FS @burner3fs]

@MichaelWWara What do you think about all the political blow back from this prescribed burn?