|Day's Range||8.50 - 8.50|
Recently, Zacks.com users have been paying close attention to Phillips 66 (PSX). This makes it worthwhile to examine what the stock has in store.
Phillips 66 (PSX) closed the most recent trading day at $94.69, moving -0.9% from the previous trading session.
In the oldest refining town in the American West, Phillips 66 is promising a greener future as it moves to halt crude-oil processing and build a massive renewable diesel plant, leading a global trend. The company’s initial claim that it would slash greenhouse gasses by half doesn’t match the project’s environmental impact report, published by county regulators, which shows a 1% reduction, according to a Reuters calculation of emissions data in the report. These dynamics and other variables raise questions about Phillips 66’s marketing of renewable diesel as a green fuel and make it impossible to tell whether and how much the refinery overhaul will reduce community pollution, three independent environmental experts told Reuters.