PBF Energy

I mean, this isn't stuff they're expecting.

So PBF and Martinez, they had a fire and a furnace, a blowout.

PBF and Martinez actually had – operations, maintenance guys got on the wrong flange and opened up and it caught on fire.

And then Marathon and Martinez had a furnace fire a few years ago.

So these things happen in refineries.

And there's so many things that can take a refinery out.

That's the biggest thing right now, and specifically in California, that I worry about.

you know, if you lose a PBF or you lose a Chevron refinery, then it does affect diesel.

Well, the three of them did create.

Yeah, no, I know what you, I hear you, Joe, the three of marathon PBF and Chevron did write those three letters about four months ago.

Man, show me a letter that has done anything.

Well, that caused the Air Board to adjust those amendments they were going to propose.

Yeah, let me bring you up to date about that development.

So in early September, the Pennsylvania Public Utility Commission, which is the state's pipeline regulator, denied a petition by a group of Pennsylvania marketers that include Monroe Energy, PBF Energy, and Sheetz to

appeal

to a PUC order in July that had sided with Buckeye.

Chevron sent a letter.

PBF Energy sent one.

Marathon Petroleum sent a letter.

Those three companies own nearly 90% of the refining capacity that's left in California.

ExxonMobil, BP, Chevron, Petrobras, uh, Shell, Canadian National, uh, ConocoPhillips.

Oh, Suncor, PBF Energy, EOG Resources, Phillips sixty-six, Valero Energy.

All energy.

Marathon Petroleum, all new yearly highs.

Because it's the cleanest trend in the market.

Valero up four point six nine, PBF up seven point three, Phillips up four.

Those are big single-day moves.

And it's not just one day.

What's on the actual watchlist?

Valero at four fifty-seven, record DARVAS breakout.

PBF at ninety-one point two six, continuation plus DARVAS.

And AMD at six oh five point eight eight with a demand shelf at five fifty-nine, five sixty.

Guys, if you throw up the CRAK, which is an ETF, crack, because it's named after a crack spread, that's kind of one of the major refinery ETFs.

Marathon, Valero, Phillips 66, PBF, HF Sinclair.

They're all soaring.

I like it.

...

Chevron, PBF Energy, they're all, uh, they could all take a hit.

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Um, so yeah.

But if you bought, like, PBF or something, you did better than if you bought Valero.

Um, I wouldn't...

I'm, I, I'm not saying they're great bets right now, but I wouldn't sell them.