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Valero Energy (VLO) suspends gasoline sales into the California spot market because of a product...

Valero Energy (VLO) suspends gasoline sales into the California spot market because of a product shortage resulting from a spate of refinery outages in the state. The unusual move from the largest U.S. refiner comes after accidents and maintenance have caused shutdowns at several California refineries, sending pump prices soaring. VLO -3.2% AH.
Comments (10)
  • Aristiphones
    , contributor
    Comments (1327) | Send Message
     
    this REEKS of political hooey. And as a consequence "the stock gets crushed." mess with American energy supplies at your peril Energy Companies!
    4 Oct 2012, 05:46 PM Reply Like
  • Whitehawk
    , contributor
    Comments (3129) | Send Message
     
    More refineries need to get built, with the latest technologies available. What's stopping this: NIMBY, and ridiculous regulations. The old refineries suffer outages because they were built decades ago.
    4 Oct 2012, 08:19 PM Reply Like
  • deercreekvols
    , contributor
    Comments (5736) | Send Message
     
    While I feel for the folks in CA, at least there seems to be a reason for high gas prices.

     

    $4.09/ gallon in Western NY and there are no refinery outages, only high state tax. I spent over $100 filling two gas cans and my truck. (I did not fill the truck!)

     

    PA refineries are less than 50 miles from my front door.
    4 Oct 2012, 10:32 PM Reply Like
  • Boxed Merlot
    , contributor
    Comments (1585) | Send Message
     
    Since a gallon of gas = a gallon of gas and a '64 US quarter can still buy the same amount as it could in '64, (about a gallon and a half), seems Ben's successfully stoking the fire of peak oil pretty well by devaluing the currency the US treasury contracts to buy from him.

     

    In other words, your 100.frn in gas is still only worth less than 4 bucks in real money. Including NY taxes no less.
    4 Oct 2012, 11:37 PM Reply Like
  • sethmcs
    , contributor
    Comments (3326) | Send Message
     
    Well the air board should be pleased. Less gas sold less pollution. No wonder there is a shortage California insists a special formula for gas sold there. Epic fail.
    5 Oct 2012, 12:06 AM Reply Like
  • samshukla
    , contributor
    Comments (3) | Send Message
     
    why would they suspend sales, when competitors are down? this will add fuel to the fire. Valero is sales gas at it's Ultramar stations in Ontario,Canada at a significant loss all the time anyhow. Isn't it all about market share? they are getting chance to eat Exon's lunch for now why not?
    5 Oct 2012, 02:52 AM Reply Like
  • The_American
    , contributor
    Comments (149) | Send Message
     
    USO and UCO rallies UNG has rallied UGAZ BOIL GASL are just a few leveraged ETF that I have traded and done well.
    I worked on Wall Street and its a shame that our BIG IDEA it's to switch from one liquid GOLD to another which I promise the markets will trade up
    China is moving into EV period and as they do the Rare Earths that are needed will SPIKE already up 700% in just a few years
    REE s will continue to rise as China has a Monopoly on it
    I recommend MCP anywhere in the 10 range and bought HL @ 3.80 and NUGT @7.92 pre market along with S@2 just to name a few
    I'm up 400% on the year and would show any asset manager my account
    The UDN is a basket of currencies as the 1st time in History the USD is in question which is why GLD and SLV rise USLV is up 100% just this year AGQ is up 50% imagine buying options on those and NUGT GDX GDXJ SIL SLVP GLDX GLTR GGGG RING which are Miner ETFs IAU GLD UGL UGLD SLV PSLV SIVR are direct investment and are supposed to trade with GOLD and SILVER in tandem and not all created equal but worth a look and certainly do not rule out Platinum PPLT PTM PLTM and Palladium PALL
    As rising costs of GAS and OIL food energy utilities bills property taxes insurance premiums sky rocketing KILLING AMERICA'S Middle Class as DBA MOO DBC JJG which is grain up over 30% WEET and many more SGAR looks like its on the move
    Our Dysfunction of Government on BOTH sides and many of them 200 years ago would be accused for Treason. A book came out by Robert Draper when the financial collapse started and the DIA QQQ SPY went into free fall this book has names of congress and senators buying put options with the names of them and specific trades and are still in government
    I've been recommending AUY FCX HL GDX GDXJ NUGT SLV GLD SCCO DDD NANO AGNC GRT and many more some REIT s RGLD SLW SWC and GOLD SILVER PLTM and PAL PLG which have brought great returns MUX TC as much as they have come up they are still cheap in low interest rate environment Now I'm trading Iron Ore which is needed for CU Copper and all Precious Metals PMs as well as Industrial Metals TIE VALE ANR ACI KOL is cheap JRCC and KWT PWND
    WHATEVER PRESIDENT COMES WE NEED A NATIONAL SMART GRID INFRASTRUCTURE PROJECT.
    Bring Energy costs down which would increase consumer spending, spark innovation, increase the National Savings rate and CREATE JOBS.
    We are 16 TRILLION IN DEBT WITH NOTHING TO SHOW FOR IT.
    Rotting infrastructure 1/3 of our bridges are deemed unsafe so where does all the money go.
    Despite what they say about China they are eating our lunch.
    Last week they have more Millionaires then we do, Canadians are now wealthier than Americans per capita and we just keep going down the list
    Out of 10 largest buildings in the world China has about half of them
    They have more Internet and mobile users than we have in our entire population
    Our unemployment is stagnate and the new norm which may tick higher now and 2013
    JPM RBS BAC WFC USB BNY are not lending and if the Fed wants to expand the balance sheet with no investment in America with these low rates to build out National Smart Grid which would also Secure our National Security on Energy it seems we have the cant can't cant attitude.
    I PROMISE it's the lobbyists and Corporations who bought our Government and the same people who turned EDUCATION INTO CORPORATION AND TURNED PRISON INTO BIG BUSINESS ALL AT THE EXPENSE OF ALL AMERICANS.
    Our Children are coming out in debt with no jobs and 2 TRILLION IN DEBT.
    It's a Disgrace it's Macro And our Children are Our Future
    This would NEVER be 50 years ago and Canada has a MUCH better Education System and are in Top 10- Marketwatch
    We do not even make the List
    5 Oct 2012, 06:40 AM Reply Like
  • bill d
    , contributor
    Comments (1905) | Send Message
     
    They screw us because they can. You can bet your sweet a$$ they are still shipping gas from CA to AZ.
    Jesse James without a gun.
    Last week Vons supermarket out in BFE here in CA selling 3.94 regular price without the .10/gal discount available per $100 shopping.
    Big boys 4.10+.
    Guess Vons has their own refinery.
    Note - "Last week they have more Millionaires then we do, Canadians are now wealthier than Americans per capita and we just keep going down the list"
    But WE have 2400 millionaires drawing unemployment!! Let's see them beat that!!!
    5 Oct 2012, 06:42 PM Reply Like
  • smartin619
    , contributor
    Comments (7) | Send Message
     
    Valero is saving gas for thier own CA based stations. The crazy formula stadards here are to blame not greedy a greedy energy company.
    6 Oct 2012, 11:19 AM Reply Like
  • bill d
    , contributor
    Comments (1905) | Send Message
     
    BULL - a 70 cent jump overnight is nothing but greed.
    8 Oct 2012, 04:29 PM Reply Like
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