Phillips 66 Moving Cheap Oil to East Coast Refiner
Booming oil production extracted from numerous shale plays in the United States is outpacing pipeline expansion, leaving high-production companies, like those in the Bakken, struggling to find pipeline takeaway capacity. The lack of takeaway capacity is causing regional U.S. oil price discrepancies as a result. In this video, Motley Fool energy analyst Joel South tells us about a new deal from Phillips 66 in which the company will move oil to the East Coast using rail carts, supplying its East Coast refiner in Trainer, Penn., with cheaper West Texas Intermediate benchmarked crude.
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The article Phillips 66 Moving Cheap Oil to East Coast Refiner originally appeared on Fool.com.Joel South has no position in any stocks mentioned. Taylor Muckerman has no position in any stocks mentioned. The Motley Fool recommends Kinder Morgan. The Motley Fool owns shares of Kinder Morgan. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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