It's hard to believe that is has been 25 yeas since the Exxon Valdez disaster off the coast of Alaska. On the anniversary of one of the worst environmental disasters in our country's history, oil spills continue to plague the industry. While ExxonMobil (NYSE:XOM) wasn't at fault this time, it is still be affected.
With the Houston Shipping Channel closed due to 170,000 gallons of oil, ExxonMobil's Baytown refinery has been unable to run at full capacity. While the company hasn't provided guidance as to how badly it has been affected, the refining business continues to be an anchor for the company. Peers like Phillips 66 (NYSE:PSX) are lucky to have other crude oil delivery options, and Valero Energy (NYSE:VLO) has yet to provide any information about its activities in the region. For more on the subject, tune in to the short clip below.
This segment is from Tuesday'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 & materials sectors @TMFEnergy.