RE:RE:RE:RE:Carnage and Capitulation Still to ComePersonally, I'm hoping that we see the PoO in the mid - high 20's again, just to bring on the pain earlier rather than simply dying a slow, slow death as oil heads north at a snails pace and kills everything in its path, IAE included. I'm hoping that what we are currently seeing is not what we will see going forward, and that is a slow rampup of the PoO. Right now low 30s, next 2 months mid 30s, spring mid-high 30's, fall, high 30s to low 40s, Christmas low 40s to mid 40s, because that will kill everyone but the very, very strong. And it will kill IAE. My biggest worry is that the Sauds do nothing at their scheduled June meeting with the lip-service that they will make a change at their December 2016 meeting. If that's the case, and the PoO is still sitting under $40.00 then I may be gone before Stella. The thing is, as the Ferret has suggested, IAE will be under a lot of pressure this spring by the banks, which could (very probably) lead to more dilution of some sort (Delek takes a bigger piece of the pie, most probably). BUT they will get through this spring. But if this doesn't turn by the Fall and the next RBL detemination, OUCH!!!! She's a gonna hurt. And if the Sauds are looking to 2017 to rebalance the PoO, well all bets are off in my opinion.