"There will be no light sweet crude imports into the U.S. Gulf Coast," by 2015, says Valero...

|About: Valero Energy Corporation (VLO)|By:, SA News Editor

"There will be no light sweet crude imports into the U.S. Gulf Coast," by 2015, says Valero (VLO) CEO Bill Klesse, who expects domestic shale output to take its place. This will narrow the discount of heavy crude so much, the company is nixing plans for a Port Arthur refinery. Shale oil "(affects) the competitiveness of the refining business on the world scale."