With A DAPL Reprieve, We've Moved To "Vacation Nation" -- Micheal Fitzsimmons -- June 6, 2021

I'm still appalled that it appears the PGA players have not gotten their vaccinations but I digress.

Phillips 66 Partners -- Michael Fitzsimmons -- SeekingAlpha -- June 6, 2021:

• PSXP units have had a sharp rally since the U.S. Army Corps of Engineers decided not to shut down the DAPL pipeline in April.
• While a DAPL shutdown is still a medium-term risk, the environmental impact statement ("EIS") isn't due to March of 2022, and would likely be appealed. Meantime, DAPL stays open.
• That being the case, the PSXP thesis now switches to the opening up of the US economy and what I call the 'Vacation Nation' theme.
• The 'Vacation Nation' theme is built on the successful roll-out of the vaccines, significantly dropping covid-19 infection and death rates, and resulting gasoline demand that has come roaring back.