Phillips 66 (PSX) is the latest energy company to aggressively pursue pushing cheaper U.S. crude...


Phillips 66 (PSX) is the latest energy company to aggressively pursue pushing cheaper U.S. crude through rail to its refineries, after signing deals with Enbridge Partners (EEP; also), Targa Partners (NGLS) and Magellan Midstream (MMP). PSX's new partnerships show refiners are accepting that U.S. oil production, set to grow by nearly 1M bbl/day in 2013 to 7.3M bbl/day, is not a flash in the pan.

From other sites
Comments (11)
  • bgold1955
    , contributor
    Comments (2350) | Send Message
     
    Maybe we will have cheaper gasoline prices? At this point, I am not optimistic.
    20 Mar 2013, 07:08 PM Reply Like
  • RFGPHELAN
    , contributor
    Comments (9) | Send Message
     
    Take heart! If you have some savings, buy some stocks--oil or oil-related stocks, such as refiners, refining-related partnerships, or oil delivery companies, sich as MMP, which owns pipelines which deliver oil-related products. You don't have to spend a large amount, just enough to receive dividends either quarterly or monthly. If you buy the right stock, it may well increase in value, so hyou will have had the dividends to help buy gasoline cheaply, or for free, and the capital gains you will receive will provide the profit you will have deserved for taking the risk in the first place. Find a good broker, say, Schwab, and ask for advice on this subject. You may find that you can spend only, say, $3,000, and then you will be on your way.
    21 Mar 2013, 04:31 AM Reply Like
  • BK Stock
    , contributor
    Comment (1) | Send Message
     
    What refiners will get the oil? What railroads will get the business?
    21 Mar 2013, 05:02 AM Reply Like
  • 857739
    , contributor
    Comments (4) | Send Message
     
    Does this mean that the mid stream MLP's will lose revenue since rail will be used?
    21 Mar 2013, 05:11 AM Reply Like
  • aeroguy48
    , contributor
    Comments (899) | Send Message
     
    A lot of MLP's are investing/have interests in railroading, plus barges, and storage.
    21 Mar 2013, 05:40 AM Reply Like
  • frankwhelan
    , contributor
    Comments (2) | Send Message
     
    No, but the balance of payments will improve. Oil is a world market.
    21 Mar 2013, 06:09 AM Reply Like
  • frankwhelan
    , contributor
    Comments (2) | Send Message
     
    No, but we will have an improved balance of payments. Oil is a world market.
    21 Mar 2013, 06:09 AM Reply Like
  • randj11
    , contributor
    Comments (2) | Send Message
     
    I'm retired. Gas prices will not fall because they are based on the world oil market price. Unless the US Govt established price controls which will not happen the price of oil will not drop for us based on the amount of oil the US produces. Which will be sold on the world market. The new pipe line for Canadian shale oil will create contruction jobs and some refinery jobs but that oil will be sold on the world market to whom ever pay the price no oil price benefit for the US.
    21 Mar 2013, 06:10 AM Reply Like
  • randj11
    , contributor
    Comments (2) | Send Message
     
    We'll never have cheaper Gasoline prices because the price is based on the WORLD market not the US market. Unless the Govt started price controls the market will keep the gas prices high no matter how much Oil and Gas the US produces.
    21 Mar 2013, 06:11 AM Reply Like
  • rattar
    , contributor
    Comments (14) | Send Message
     
    The fact that we have to blend so many different gasoline for area and seasons to much EPA regulations. The high federal state and city taxes will always keep the prices higher than they have to be. Don't forget ethanol adds to the price also.
    21 Mar 2013, 09:03 AM Reply Like
  • Jimbov
    , contributor
    Comments (13) | Send Message
     
    Ethanol is a major problem today and is part of the problem with high gas prices...and also high food prices. You can thank the corn lobby, congress, and Obama for that. Ethanol E-10, has devistated the boating industry because it is destroying outboard motors, fuel lines and gas tanks. If they go through with E-15, which has already been approved, it will be all over for the boating industry. Florida, thankfully, is one of the few states where they are allowed to sell Ethanol free gas at Marinas. Florida does a lot of things right.
    22 Mar 2013, 12:29 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs