Opened a position in Phillips66 (PSX) this morning. Shares are down over 5% with 'fresh' declines in oil (I hate how journalists constantly rely on that phrase). Phillips66 is all about differentials between US and global NGL prices and US and global oil prices. Big midstream projects are mostly geared toward NGLs as well. This is a great way to participate in the Gulf Coast petchem boom and collect a growing dividend. 2.9% now but the dividend is slated to grow for many years.