Monday, March 21, 2011
Bourses Love the War in Libya
TOWER (TSEM) is rising 7% on NASDAQ, ORCKIT 5% and so on. BAZAN, the Haifa refinery, expects a utilization rate of 95 percent in 2011. A new hydrocracker is being built with two Italian reactors. The 25,000 barrel-a-day unit, being built at a cost of $500 million, is expected to start operations in mid-2012. Hydrocrackers are mainly used to produce diesel.
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This splendid little war has some pretty intense quagmire potential. And our president is eager to leave others holding the bag. They have to be thinking partition... it seems like the only particularly likely way to avoid both a bloodbath, and the permanent ground invasion that could stave off same... and no Kurds to worry about.
Unless these folks are just a lot more chilled out than Iraqis... but I doubt they are.
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