Getting rid of refineries Germany, Ireland & Malaysia sounds like a good move to me...will provide cash to build out on a rail rack system to transport Canadian crude in lieu of no Keystone pipeline agreement. Building energy independence within North America! Thumbs up!
May not need to build a rail system since Warren Buffett may be buying the entire P66! his Burlington rail can transport the crude to the refineries as well as the end products from regineries to the market
Keystone will be built. But building additional rail to various U.S. refiners is a good thing. Bakken crude is light sweet; while Canadian crude for transport by KXL is heavy, which is destined to refiners in the Gulf.
There will be less need for refineries as the new MPH standards come into effect and at least in the short term fleet vehicles, large trucks and eventually rail and then cars switch to CNG or LNG. PSX wants to increase their marketing and specialties which are related to the refining business. Making all those high end oils and lubricants.
Do you think it's time to establish a position in LNG or CLNE? I sold Clean Energy 3/29/12 @ 20.91 with a 25% short term gain. I've been eyeballing it ever since it's decline. I'm also kicking myself for not getting in on WFR at it's low and wondering if it's too late there. I think solar definitely has a future but may hold off for an overdue market correction to take a position there.
I appreciate your response. I personally have been on the LNG, CNG bandwagon for a long time. Can't figure what's in heads of politicians, manufacturers & especially the heads of the American public when we have such an overabundance of natural gas...duh.