Horace Hobbs, Chief Economist, Phillips 66, joined the company in October 2013. Mr. Hobbs is primarily focused on long-range planning and capital allocation for the global portfolio of Phillips 66 businesses. He has spent his entire thirty-year career in the energy industry, primarily as a management consultant and an operating executive. Prior to joining Phillips 66, Mr. Hobbs was Managing Director of Muse Stancil & Co., a boutique, global consulting firm, where he was focused on downstream strategy and provided a broad array of merger, acquisition, and divestiture advisory services. He also provided industry analysis and business planning support for operating companies, project and technology developers, equity investors, and financial institutions. Mr. Hobbs spent five years as part of the start-up executive team for Longhorn Pipeline and was previously employed as a downstream industry consultant at Wright Killen & Co. and The Pace Consultants (Now Jacobs Consultancy). He spent the early years of his career as a chemical engineer involved in process design and advanced process control applications. He has testified as a downstream industry expert before the Federal Energy Regulatory Commission (FERC), The California Public Utility Commission, and the National Energy Board of Canada. He regularly addresses a variety of audiences on topics related to global energy markets and economics. Mr. Hobbs holds a bachelor’s degree in chemical engineering from the University of Houston and is licensed by the state of Texas to practice engineering.