The oil spill is weighing on drillers and for that matter most energy stocks in general. MLPs are mostly lower with the index down 1. Inergy Holdings (NRGP) Holly Partners (HEP) Buckeye Partners (BPL) and Buckeye Holdings (BGH) are higher fractionally. Alliancer Resource (ARLP) Calumet (CLMT) Natural Resource (NRP) Plains All American (PAA) and Williams Partners (WPZ) are fractional losers.
Dow up 100 points as money is flowing into everything else and we seem to be getting back most of what was lost on Friday. At least the up market is keeping the selling from getting out of hand.
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- joewxman
- a meteorologist with a knack for trading and investing in MLPS! I also like horse racing, enjoy cigars and a good port wine.
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1 comment:
The market is a strange animal. Seems MLPs being down on the oil spill makes no sense at all; as that has zero effect (or maybe even a positive effect) on the amount of oil and gas that must be stored and moved around. On a somewhat related note, Frontline Tankers (FRO) (a personal holding) is up 6% as I type; probably on the anticipation that off-shore drilling in US waters will be curtailed in the future and, therefore, more oil will be purchased from and transported from unstable countries that hate us via tankers. I saw a report over the week-end that the amount of oil per year spilled into the ocean is now about 1/3 to 1/5 (going on memory) of what it was prior to 1995. Due primarily to the environmentalist, we will likely, in the future, fund more terrorists in lieu of producing more oil/gas in our coastal waters. What a country!
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