re: XoM sells Chalmette Refinery to PBF Energy

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So what will a company like Exxon typically do with the money from the sale? ...in this case 322 million dollars

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Build a refinery someplace where $150,000 a year workers don't go on strike. They are both expanding and building new capacity at several foriegn locations.

Once the government ok'ed the export of crude the game was on as to who could bail out of the union run refineries the quickest. It is cheaper to ship crude overseas then back as refined products than deal with US labor and our enviromental laws.

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