This segment is from Thursday's edition of 'Digging for Value', in which sector analysts Joel South and Taylor Muckerman discuss energy & materials news with host Alison Southwick. The twice-weekly show can be viewed on Tuesdays & Thursdays. It can also be found on Twitter, along with our extended coverage of the energy & materials sectors @TMFEnergy.
With projections for U.S. oil production claiming that over 9 million barrels of oil will be produced per day in 2015, some are expecting a glut of supply sufficient to begin exporting crude oil. The economic impacts of a decision like this would be dramatic, whether they be positive or negative. Refiners are of the belief that exporting oil could be bad for the nation. Valero Energy (NYSE:VLO) has already been vocal about its opposition. It fears that America's advantage of lower priced crude will evaporate, which could place refiners like Alon USA Energy (NYSE:ALJ) and HollyFrontier (NYSE:HFC) under pressure. Check out the clip below for more.
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