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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

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mrsmercier Rookie Author El Paso Posts:23 Points:25,395 Joined:Jan 2013	Message Posted: Jan 31, 2013 11:13:30 AM Ignore mrsmercier Report Abuse Yay!!
jimbeaux53 Champion Author Kansas City Posts:5,094 Points:969,460 Joined:Aug 2010	Message Posted: Jan 31, 2013 8:11:30 AM Ignore jimbeaux53 Report Abuse 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 Posts:7,075 Points:1,629,095 Joined:Jun 2008	Message Posted: Jan 31, 2013 12:44:13 AM Ignore DrCashFlow Report Abuse less supply as refineries are shut down
clermont40miles Champion Author Cincinnati Posts:10,588 Points:1,774,820 Joined:Apr 2008	Message Posted: Jan 30, 2013 11:55:37 PM Ignore clermont40miles Report Abuse Profit is good. Excess profit not so good.
KhelbenArunson Champion Author Michigan Posts:4,456 Points:719,815 Joined:Apr 2008	Message Posted: Jan 30, 2013 9:22:56 PM Ignore KhelbenArunson Report Abuse The prices need to be lower at the pump.
divebomber Champion Author Nebraska Posts:6,093 Points:1,815,200 Joined:Jun 2007	Message Posted: Jan 30, 2013 8:59:32 PM Ignore divebomber Report Abuse TOO BAD THEY DID'NT LOWER THEIR $$$ INSTEAD!
gasmack Champion Author Ventura Posts:1,720 Points:670,350 Joined:Feb 2011	Message Posted: Jan 30, 2013 8:55:18 PM Ignore gasmack Report Abuse Could not access link.
spud5559 Veteran Author Yakima Posts:287 Points:85,465 Joined:Jul 2012	Message Posted: Jan 30, 2013 8:54:29 PM Ignore spud5559 Report Abuse greed
Elaine4411 Champion Author Pennsylvania Posts:1,663 Points:465,515 Joined:Dec 2011	Message Posted: Jan 30, 2013 8:52:34 PM Ignore Elaine4411 Report Abuse All the while the gas prices keep going up, up, up!!
Robert44 Champion Author Columbus Posts:3,586 Points:1,222,710 Joined:Mar 2004	Message Posted: Jan 30, 2013 8:51:10 PM Ignore Robert44 Report Abuse Profits are up but price of gas is way up to?!? Sounds like profits on back of consumers?!?
carinthuist Champion Author San Francisco Posts:2,255 Points:332,100 Joined:Mar 2012	Message Posted: Jan 30, 2013 8:50:40 PM Ignore carinthuist Report Abuse raising gas prices
JimL1 Champion Author Phoenix Posts:8,222 Points:1,243,395 Joined:Jul 2003	Message Posted: Jan 30, 2013 8:49:41 PM Ignore JimL1 Report Abuse 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 Posts:6,098 Points:1,393,795 Joined:Oct 2008	Message Posted: Jan 30, 2013 8:47:31 PM Ignore DustyHorse Report Abuse While they rais e prices on gasoline.
Volkswagen62 Sophomore Author Salinas Posts:192 Points:664,695 Joined:Nov 2010	Message Posted: Jan 30, 2013 8:43:50 PM Ignore Volkswagen62 Report Abuse Focus2 has ALOT of time on his hands!!!!!!
knot2swift Champion Author Calgary Posts:4,398 Points:699,905 Joined:Nov 2009	Message Posted: Jan 30, 2013 8:39:27 PM Ignore knot2swift Report Abuse Great! I'll bet none of these riches get passed onto consumers.
BlewettCA Veteran Author California Posts:318 Points:240,410 Joined:May 2012	Message Posted: Jan 30, 2013 8:37:26 PM Ignore BlewettCA Report Abuse ok
nimpy Champion Author Indianapolis Posts:8,150 Points:1,704,030 Joined:Oct 2007	Message Posted: Jan 30, 2013 8:37:25 PM Ignore nimpy Report Abuse And the prices are going to rise
JohnLM Champion Author Orlando Posts:1,043 Points:530,920 Joined:May 2010	Message Posted: Jan 30, 2013 8:34:01 PM Ignore JohnLM Report Abuse We should be energy indipendent by mow.
Dan4NH Rookie Author New Hampshire Posts:37 Points:49,320 Joined:Jan 2013	Message Posted: Jan 30, 2013 8:31:43 PM Ignore Dan4NH Report Abuse Good for Valero
NotLoggedIn Rookie Author Oklahoma City Posts:14 Points:50,780 Joined:May 2012	Message Posted: Jan 30, 2013 8:29:05 PM Ignore NotLoggedIn Report Abuse yeah...
bbreff Champion Author Atlanta Posts:9,863 Points:2,571,340 Joined:Jun 2005	Message Posted: Jan 30, 2013 8:28:09 PM Ignore bbreff Report Abuse Good for them.
darkform Veteran Author Illinois Posts:352 Points:370,235 Joined:May 2011	Message Posted: Jan 30, 2013 8:22:39 PM Ignore darkform Report Abuse OK
rampower80 Champion Author Kentucky Posts:2,054 Points:463,865 Joined:Jan 2012	Message Posted: Jan 30, 2013 8:17:39 PM Ignore rampower80 Report Abuse Sounds like they are charging higher prices for gasoline, even though raw crude prices are lower. Hmmmm!
cateyes8264 Champion Author Tennessee Posts:2,957 Points:644,865 Joined:Jul 2011	Message Posted: Jan 30, 2013 8:17:15 PM Ignore cateyes8264 Report Abuse HMMMM bigger than expected profit.....could be because prices remain too high?
1COR1533 Champion Author San Jose Posts:1,706 Points:318,210 Joined:Jun 2012	Message Posted: Jan 30, 2013 8:16:09 PM Ignore 1COR1533 Report Abuse always a profit
johton Champion Author Seattle Posts:1,225 Points:314,115 Joined:Jun 2012	Message Posted: Jan 30, 2013 8:15:55 PM Ignore johton Report Abuse Lots of profit. Just not for the working stiff!
Focus2 Champion Author Illinois Posts:7,896 Points:1,920,520 Joined:Mar 2006	Message Posted: Jan 30, 2013 8:15:41 PM Ignore Focus2 Report Abuse 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 Posts:6,362 Points:1,305,540 Joined:Sep 2009	Message Posted: Jan 30, 2013 8:08:14 PM Ignore bababooey2 Report Abuse Good for not for consumers.
fire@53 Champion Author Philadelphia Posts:11,843 Points:2,771,250 Joined:May 2003	Message Posted: Jan 30, 2013 8:04:20 PM Ignore fire@53 Report Abuse Keep finding oil here.
bady777 All-Star Author Edmonton Posts:865 Points:298,510 Joined:Jul 2011	Message Posted: Jan 30, 2013 8:02:02 PM Ignore bady777 Report Abuse surprise
Bud122CA Champion Author California Posts:7,481 Points:1,608,025 Joined:Jul 2008	Message Posted: Jan 30, 2013 8:00:07 PM Ignore Bud122CA Report Abuse All prices should be going down NOT up with the US drilling and pumping more here at home
sosgas All-Star Author Portland Posts:885 Points:458,690 Joined:Feb 2009	Message Posted: Jan 30, 2013 8:00:01 PM Ignore sosgas Report Abuse Good.
snerd All-Star Author Pennsylvania Posts:935 Points:656,000 Joined:May 2005	Message Posted: Jan 30, 2013 7:58:07 PM Ignore snerd Report Abuse Ok
barbs24 Champion Author Virginia Beach Posts:3,154 Points:2,042,745 Joined:Feb 2006	Message Posted: Jan 30, 2013 7:55:10 PM Ignore barbs24 Report Abuse How will this help me?
PoohMcGoo Champion Author Alabama Posts:3,077 Points:802,635 Joined:Dec 2010	Message Posted: Jan 30, 2013 7:54:33 PM Ignore PoohMcGoo Report Abuse Ok
REKEY Champion Author South Carolina Posts:8,589 Points:1,701,365 Joined:May 2008	Message Posted: Jan 30, 2013 7:54:22 PM Ignore REKEY Report Abuse So the oil is cheaper and the gas is higher?
jb107 Champion Author New Jersey Posts:9,564 Points:2,623,950 Joined:Sep 2005	Message Posted: Jan 30, 2013 7:54:18 PM Ignore jb107 Report Abuse It's good to see companies using domestic oil.
soups5 Veteran Author Victoria Posts:378 Points:571,365 Joined:May 2011	Message Posted: Jan 30, 2013 7:46:48 PM Ignore soups5 Report Abuse so happy to see their proffits are up
bevmill Champion Author Georgia Posts:2,592 Points:602,495 Joined:Apr 2006	Message Posted: Jan 30, 2013 7:45:45 PM Ignore bevmill Report Abuse ok
73amx Champion Author Allentown Posts:1,183 Points:461,715 Joined:Sep 2011	Message Posted: Jan 30, 2013 7:43:42 PM Ignore 73amx Report Abuse higher prices at the pump also helped
DCbeachbum Champion Author South Carolina Posts:2,647 Points:906,315 Joined:May 2010	Message Posted: Jan 30, 2013 7:40:17 PM Ignore DCbeachbum Report Abuse 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 Posts:3,600 Points:711,385 Joined:Jun 2011	Message Posted: Jan 30, 2013 7:39:08 PM Ignore IUVidiot Report Abuse hmmmm
agent0077 All-Star Author Colorado Posts:704 Points:482,180 Joined:Jul 2011	Message Posted: Jan 30, 2013 7:36:55 PM Ignore agent0077 Report Abuse At least someone is making money
bob2f Rookie Author Vermont Posts:1 Points:3,170 Joined:Sep 2005	Message Posted: Jan 30, 2013 7:35:26 PM Ignore bob2f Report Abuse 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 Posts:13,696 Points:2,616,725 Joined:Jul 2005	Message Posted: Jan 30, 2013 7:34:28 PM Ignore Somis1 Report Abuse Less cost goes right to the bottom line of the supplier, not to the pump price. No surprise.
Discovery02 Champion Author Colorado Springs Posts:2,580 Points:312,615 Joined:May 2012	Message Posted: Jan 30, 2013 7:32:17 PM Ignore Discovery02 Report Abuse 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 Posts:659 Points:412,755 Joined:Oct 2008	Message Posted: Jan 30, 2013 7:31:36 PM Ignore crusty1 Report Abuse Valero is always high priced at the statiopn near me.
drakeman70 Sophomore Author Vermont Posts:110 Points:41,215 Joined:Oct 2008	Message Posted: Jan 30, 2013 7:31:11 PM Ignore drakeman70 Report Abuse Surprise surprise.
goinwgas All-Star Author Oregon Posts:884 Points:235,275 Joined:Jun 2012	Message Posted: Jan 30, 2013 7:27:16 PM Ignore goinwgas Report Abuse less expensive oil means less expensive gas. right, RIGHT!!!!!!!!
The_DR Champion Author New Jersey Posts:2,795 Points:587,015 Joined:Aug 2011	Message Posted: Jan 30, 2013 7:26:55 PM Ignore The_DR Report Abuse So why are their prices so high?