I suspect there may be new regulations for asphalt components, heavy oil, and carbon in general coming from Washington, while we already lead the world in reducing carbon as a nation.
The small MLP refiners like this one struggled with low spreads last quarter and the distribution showed. What will the lack of refining in the US cause going forward?
Few new refineries and the abundant supply along with the current law preventing exporting should be driving the price of domestic crude down against Brent, and OPEC but maybe winter weather increased heating oil demand enough in the US to have the opposite effect. Our gas price has been rising and my gas mileage this winter has been dropping because it is so cold the fuel does not atomize well. Then there is ethanol mandated. It also hurts mileage and complete combustion, big time.
We should make all politicians wear Nascar like uniforms which display the logos of those they are influenced and paid to vote by. Maybe we would have a more honest Congress that actually thinks big picture and the whole country instead of their pockets and local interests, lol... Pressure to lift the ban on exporting oil is coming from Alaska's senator, while that state loses ground against new shale states. Personally I think flooding the world with our cheap crude glut would only hurt our economy and raise our retail gas price while we still import millions of barrels per day. Stay the course and grow our supply I say!
"A nickel isn't worth a dime today." Yogi Berra