50104--3/2/2009--TESORO_CORP_/NEW/

related topics
{gas, price, oil}
{cost, regulation, environmental}
{operation, natural, condition}
The volatility of crude oil prices, refined product prices and natural gas and electrical power prices may have a material adverse effect on our cash flow and results of operations. Our operations are subject to operational hazards that could expose us to potentially significant losses. Our business is impacted by environmental risks inherent in refining operations. Our operations are subject to general environmental risks, expenses and liabilities which could affect our results of operations and changes in environmental regulations and other obligations relating to environmental matters could subject us to further risks, expenses and liabilities. We are subject to interruptions of supply and increased costs as a result of our reliance on third-party transportation of crude oil and refined products.

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