The first story comes from SeekingAlpha. This one caught me completely by surprise. I had not looked at the market over the past two days, except for the Dow. I had no indication that PSX (Phillips 66) hit a new high. On November 20, 2013, PSX was said to be overvalued with respect to its peers, by at least one analyst.
Now, just a few days later, PSX hits a new high and Michael Fitzsimmons takes a look at it. Mr Fitzsimmons asks whether PSX might just be the "best play on domestic shale."
It looks like its previous high was $69.67, and is now comfortably at $71 and paying over 25. The two things that excite me about PSX: a) their $2 billion LPG export facility in Texas; and, b) their "investor-friendly" management.
Again the disclaimer: this is not an investment site. Do not make any investment decisions based on what you read here or what you think you may have read here.
Now, to get some coffee and some fresh muffins.
(The second story alluded to above regards the proposed rail transloading terminal near Dickinson.)
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We really do have something to be thankful for in this arena. Can you imagine the state of the US economy if five years ago, the US had banned all fracking, and Great Britain (Scotland and northern England); France; and Poland had pressed "full steam ahead" with their own shale programs, instead of doing quite the opposite and putting most of their eggs into wind (Germany) and solar (Spain)? We would be sitting over here, wondering, "what just happened?" But the US is as close to energy independence as it has ever been since the President Carter days, and the refined products export market is about to take off.
Happy turkeys to you and yours, Bruce! And thank you for your diligence in keeping all of "us" informed in all things Bakken
ReplyDeleteThank you. I always enjoy hearing from readers; thank you for taking time to write.
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