This segment is from Thursday's edition of "Digging for Value," in which sector analysts Joel South and Taylor Muckerman discuss energy and materials news with host Alison Southwick. The twice-weekly show can be viewed on Tuesdays and Thursdays. It can also be found on Twitter, along with our extended coverage of the energy and materials sectors @TMFEnergy.
The line is drawn between supporters and detractors of the exporting crude oil debate in the United States. Interestingly enough, refiners who benefit from lower crude prices are split on the issue. Phillips 66 (PSX 3.12%) is siding with big oil and arguing free trade is the best route. Valero Energy (VLO 2.15%), on the other hand, believes cheaper oil will lead to lower gas prices for consumers. Of the two biggest independent refiners in North America, who is correct and where should this debate be focused? Check out the video below for more information.