1 Company Standing Up for the U.S. Oil Export Ban
Apparently, not every company is on board with the U.S. lifting the ban on crude oil exports. In a recent statement, Valero said it supports the U.S.'s current position of severely restricting the export of crude oil. If you look at what Valero has to gain from it, though, you wouldn't be surprised. The company has plans to export over 400,000 barrels per day of petroleum products, and restricting crude oil exports will keep prices low for Valero's feedstocks.
Tune into the video below to find out why Phillips 66 and Marathon Petroleum could make out like bandits, as well as what companies would suffer if the current rules hold.
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The article 1 Company Standing Up for the U.S. Oil Export Ban originally appeared on Fool.com.Fool contributor Aimee Duffy has no position in any stocks mentioned. Fool contributor Tyler Crowe has no position in any stocks mentioned. You can follow them on Twitter @TMFDuffy and @TylerCroweFool, respectively. The Motley Fool has no position in any of the stocks mentioned. 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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