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Inventories

3 Months Ended

Mar. 31, 2012

4. Inventories

The major components of inventories were as follows:


	March 31, 2012		December 31, 2011
Crude oil	$	9,991	$	11,701
Petroleum products		76,494		70,769
Caustic soda		11,570		11,312
NaHS		5,369		7,337
Other		8		5

Total inventories	$	103,432	$	101,124

At March 31, 2012 and December 31, 2011, market values of our inventories exceeded recorded costs.

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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