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The U.S. Crude Export Boom and the Midstream Opportunity

Stephen Ellis (stephen.ellis@morningstar.com)

Expanding on our overarching theme of U.S. hydrocarbons (gas, oil, or natural gas liquids) increasingly being exported, we forecast U.S. crude-oil exports of 4 million barrels per day by 2020. As a result, there is a substantial opportunity for midstream entities to build new crude-oil export terminals and support their economic moats, with Enterprise Products Partners our favorite way to play this trend.