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Valero profit boosted by cheaper domestic oil

Business News Network -- Valero Energy Corp. (VLO-N 43.77 4.96 12.78%) reported a bigger-than-expected jump in fourth-quarter profit on Tuesday as the U.S. refining company's plants processed higher amounts of cheaper domestic crude oil. Growing supplies of crude produced from shale formations in the United States have been a boon to refining companies, which are processing more and more of the less-expensive oil.

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Submitted Jan 30, 2013 By: Teslukbla
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Valero profit boosted by cheaper domestic oil Back to Topics
REPLIES (newest first) Post a Reply
mrsmercier
Rookie Author El Paso

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Message Posted: Jan 31, 2013 11:13:30 AM

Yay!!
jimbeaux53
Champion Author Kansas City

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Message Posted: Jan 31, 2013 8:11:30 AM

Users at the pump are as likely to see anything from this as a junkie is to see from their local drug dealer.
DrCashFlow
Champion Author Massachusetts

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Message Posted: Jan 31, 2013 12:44:13 AM

less supply as refineries are shut down
clermont40miles
Champion Author Cincinnati

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Message Posted: Jan 30, 2013 11:55:37 PM

Profit is good.

Excess profit not so good.
KhelbenArunson
Champion Author Michigan

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Message Posted: Jan 30, 2013 9:22:56 PM

The prices need to be lower at the pump.
divebomber
Champion Author Nebraska

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Message Posted: Jan 30, 2013 8:59:32 PM

TOO BAD THEY DID'NT LOWER THEIR $$$ INSTEAD!
gasmack
Champion Author Ventura

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Message Posted: Jan 30, 2013 8:55:18 PM

Could not access link.
spud5559
Veteran Author Yakima

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Message Posted: Jan 30, 2013 8:54:29 PM

greed
Elaine4411
Champion Author Pennsylvania

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Message Posted: Jan 30, 2013 8:52:34 PM

All the while the gas prices keep going up, up, up!!
Robert44
Champion Author Columbus

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Message Posted: Jan 30, 2013 8:51:10 PM

Profits are up but price of gas is way up to?!? Sounds like profits on back of consumers?!?
carinthuist
Champion Author San Francisco

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Message Posted: Jan 30, 2013 8:50:40 PM

raising gas prices
JimL1
Champion Author Phoenix

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Message Posted: Jan 30, 2013 8:49:41 PM

I have to wonder which oil or gas company Volkswagen 2 is working for or supported by because Focus 2 was right on with the comment; "Buy cheap and sell high! That does add up to greater profit margins. We have a refinery that refines the Canada tar sands and we saw no drop in gasoline prices. They may even be higher than other states. We get the pollution, higher gas prices and the shaft. Maybe, some new playground equipment for voting for them to expand and process the Bitumen.

I am not against finding more energy. With all this increased fracking, I am concerned with trading fresh water for oil which is gone forever. The oil we may not see as it may be exported. The gas that is always there, definitely is planned for export. Big Energy is lobbying the public for the right to export our natural gas on the world market.

The following is an e-mail I received.

Join us for a telephone town hall to discuss natural gas exports on Friday, February 1st at 1:00pm. Learn more about why the world needs American natural gas and how that creates more jobs and energy security here at home.

Please RSVP today!

What: Liquified Natural Gas Exports

When: Friday, February 1st @1:00pm EST

Who: Erik Milito, American Petroleum Institute

RSVP today for the liquefied natural gas exports telephone town hall and we’ll call you a few moments before the call starts. You can’t afford to miss it!

Sincerely,

Energy Citizens Team "
DustyHorse
Champion Author Virginia

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Message Posted: Jan 30, 2013 8:47:31 PM

While they rais e prices on gasoline.
Volkswagen62
Sophomore Author Salinas

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Message Posted: Jan 30, 2013 8:43:50 PM

Focus2 has ALOT of time on his hands!!!!!!
knot2swift
Champion Author Calgary

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Message Posted: Jan 30, 2013 8:39:27 PM

Great! I'll bet none of these riches get passed onto consumers.
BlewettCA
Veteran Author California

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Message Posted: Jan 30, 2013 8:37:26 PM

ok
nimpy
Champion Author Indianapolis

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Message Posted: Jan 30, 2013 8:37:25 PM

And the prices are going to rise
JohnLM
Champion Author Orlando

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Message Posted: Jan 30, 2013 8:34:01 PM

We should be energy indipendent by mow.
Dan4NH
Rookie Author New Hampshire

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Message Posted: Jan 30, 2013 8:31:43 PM

Good for Valero
NotLoggedIn
Champion Author Oklahoma City

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Message Posted: Jan 30, 2013 8:29:05 PM

yeah...
bbreff
Champion Author Atlanta

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Message Posted: Jan 30, 2013 8:28:09 PM



Good for them.

darkform
Veteran Author Illinois

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Joined:May 2011
Message Posted: Jan 30, 2013 8:22:39 PM

OK
rampower80
Champion Author Kentucky

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Joined:Jan 2012
Message Posted: Jan 30, 2013 8:17:39 PM

Sounds like they are charging higher prices for gasoline, even though raw crude prices are lower. Hmmmm!
cateyes8264
Champion Author Tennessee

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Message Posted: Jan 30, 2013 8:17:15 PM

HMMMM bigger than expected profit.....could be because prices remain too high?
1COR1533
Champion Author San Jose

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Message Posted: Jan 30, 2013 8:16:09 PM

always a profit
johton
Champion Author Seattle

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Message Posted: Jan 30, 2013 8:15:55 PM

Lots of profit. Just not for the working stiff!
Focus2
Champion Author Illinois

Posts:8,172
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Joined:Mar 2006
Message Posted: Jan 30, 2013 8:15:41 PM

Buy cheap and sell high! That does add up to greater profit margins. We have a refinery that refines the Canada tar sands and we saw no drop in gasoline prices. They may even be higher than other states. We get the pollution, higher gas prices and the shaft. Maybe, some new playground equipment for voting for them to expand and process the Bitumen.

I am not against finding more energy. With all this increased fracking, I am concerned with trading fresh water for oil which is gone forever. The oil we may not see as it may be exported. The gas that is always there, definitely is planned for export. Big Energy is lobbying the public for the right to export our natural gas on the world market.

The following is an e-mail I received.

Join us for a telephone town hall to discuss natural gas exports on Friday, February 1st at 1:00pm. Learn more about why the world needs American natural gas and how that creates more jobs and energy security here at home.

Please RSVP today!

What: Liquified Natural Gas Exports

When: Friday, February 1st @1:00pm EST

Who: Erik Milito, American Petroleum Institute

RSVP today for the liquefied natural gas exports telephone town hall and we’ll call you a few moments before the call starts. You can’t afford to miss it!

Sincerely,

Energy Citizens Team
bababooey2
Champion Author Hartford

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Message Posted: Jan 30, 2013 8:08:14 PM

Good for not for consumers.
fire@53
Champion Author Philadelphia

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Message Posted: Jan 30, 2013 8:04:20 PM

Keep finding oil here.
bady777
All-Star Author Edmonton

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Message Posted: Jan 30, 2013 8:02:02 PM

surprise
Bud122CA
Champion Author California

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Message Posted: Jan 30, 2013 8:00:07 PM

All prices should be going down NOT up with the US drilling and pumping more here at home
sosgas
Champion Author Portland

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Message Posted: Jan 30, 2013 8:00:01 PM

Good.
snerd
All-Star Author Pennsylvania

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Message Posted: Jan 30, 2013 7:58:07 PM

Ok
barbs24
Champion Author Virginia Beach

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Message Posted: Jan 30, 2013 7:55:10 PM

How will this help me?
PoohMcGoo
Champion Author Alabama

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Message Posted: Jan 30, 2013 7:54:33 PM

Ok
REKEY
Champion Author South Carolina

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Message Posted: Jan 30, 2013 7:54:22 PM

So the oil is cheaper and the gas is higher?
jb107
Champion Author New Jersey

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Message Posted: Jan 30, 2013 7:54:18 PM

It's good to see companies using domestic oil.
soups5
Champion Author Victoria

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Message Posted: Jan 30, 2013 7:46:48 PM

so happy to see their proffits are up
bevmill
Champion Author Georgia

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Message Posted: Jan 30, 2013 7:45:45 PM

ok
73amx
Champion Author Allentown

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Message Posted: Jan 30, 2013 7:43:42 PM

higher prices at the pump also helped
DCbeachbum
Champion Author South Carolina

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Message Posted: Jan 30, 2013 7:40:17 PM

Cheaper domestic oil to create lower costs at the pump. Doesn't mean lower prices at the pump. It just means that there is less gasoline going into your tank.
IUVidiot
Champion Author Indiana

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Message Posted: Jan 30, 2013 7:39:08 PM

hmmmm
agent0077
Champion Author Colorado

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Message Posted: Jan 30, 2013 7:36:55 PM

At least someone is making money
bob2f
Rookie Author Vermont

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Message Posted: Jan 30, 2013 7:35:26 PM

I can't complain about Valero gas prices in Northern Vermont. They are running 10 - 20 cents cheaper than our other options....ie, Mobil .... 23 gas stations across vermont are owned by one family and they tend to keep the gas prices inflated. Vermont is approx. $.30 higher than the national average. At least with Valero, we have the option to save 1/2 of that cost! Valero is $3.53 a gal but if you pay cash, it's $3.48 Our Mobil is $3.68 a gal.
Somis1
Champion Author Ventura

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Message Posted: Jan 30, 2013 7:34:28 PM

Less cost goes right to the bottom line of the supplier, not to the pump price. No surprise.
Discovery02
Champion Author Colorado Springs

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Message Posted: Jan 30, 2013 7:32:17 PM

That's what happens when you lower the cost of doing business but either don't reduce prices or reduce them buy a much smaller amount...profits go UP!

[Edited by: Discovery02 at 1/30/2013 7:32:33 PM EST]
crusty1
All-Star Author Chicago

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Message Posted: Jan 30, 2013 7:31:36 PM

Valero is always high priced at the statiopn near me.
drakeman70
Sophomore Author Vermont

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Message Posted: Jan 30, 2013 7:31:11 PM

Surprise surprise.
goinwgas
Champion Author Oregon

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Message Posted: Jan 30, 2013 7:27:16 PM

less expensive oil means less expensive gas. right, RIGHT!!!!!!!!
The_DR
Champion Author New Jersey

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Message Posted: Jan 30, 2013 7:26:55 PM

So why are their prices so high?
mackconsult
Champion Author Portland

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Message Posted: Jan 30, 2013 7:26:51 PM

I am sure there is some profit in there
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