The White House has made little progress in the fight against high prices at the pump…
Last week, U.S. Energy Secretary Jennifer Granholm met with oil executives to discuss rising oil and gas prices.
However, despite suggesting that the President could be open to potentially lifting smog-related gasoline rules, the two sides failed to reach any meaningful agreement.
Granholm noted that discussions made it clear that there are few viable short-term options to mitigate prices – adding further uncertainty over the trajectory of the situation.
It also reinforced that even though the administration said it was prepared to act “quickly and decisively,” to work with the industry, tensions remain elevated.
Prior to the meeting, the President blamed refiners for the current predicament, adding that they remain focused on high profits while holding back on output.
Energy executives responded by saying this was untrue, and that they were operating near full capacity. And they continued to push back against a potential ban on U.S. fuel exports to combat record gas prices.
This, combined with the disappointing meeting, suggests neither side will budge on the matter anytime soon, particularly now that Biden skipped the gathering to strike a deal with offshore wind farm executives.
In turn, oil and gas prices are anticipated to remain elevated, benefiting companies such as this Texas oil stock… Enterprise Products Partners (NYSE: EPD).
EPD is a midstream energy services firm that helps gather, store, process, and transport a variety of fossil fuels.
This means it’s exposed to the crude market without needing to invest in oil projects and other costly drilling ventures.
And because it mostly stores and transports fossil fuels, it will benefit from elevated prices – as consumers are already doing what they can to reduce their energy consumption and costs.
As a result, this could make producers more reliant on EPD’s services while paying higher fees in the process. And if the broader situation grows more volatile, its 7.8% dividend yield may help protect investors through passive income.
Read This BEFORE Buying Any Oil Stocks…
Billionaire investors are scooping up oil stocks in response to record U.S inflation.
- Warren Buffett bought shares worth $8.8 billion…
- Carl Icahn's top 5 holdings are valued at nearly $4 billion…
- And George Soros acquired stocks worth over $10 million
In short: It's becoming painfully obvious that massive inflation is here to stay.
And there's no question oil could skyrocket as a result.
You can't just buy big names like Exxon (XOM) which has little upside…
Nor should you take on a risky explorer or driller.
Instead, it's a type of oil business you've probably never hear of…
I call it the absolute best oil business on Earth – and with good reason.
In the past, folks have could have made 20X their money in less than 10 years!