Since Buffett is doubling down on P66 would you read this as an indication of him believing that a rebound in #oilandgas is around the corner?
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Yes, and even more layoffs around the next corner too.
The only thing around the corner is more layoffs.
Simple. Buy Cheap, Sell High.
Jimmy Buffett lives in Margaritaville and would never think about stepping foot in B-Ville.
Buffet is known for willing to wait for the next 10 years or longer
The risk to downstream is upstream as upstream will not be able to continue to pay the bills at some point. P66 is an excellent candidate to purchase upstream assets including aviation and tankers.
No, refiners like P66 are doing very well...without the liability of the well!