Not Logged In Log In   Sign Up   Points Leaders
Follow Us    6:57 AM

GasBuddy News Article

42
votes
Valero seeking to sell California refineries-report

Reuters -- Valero spokesman Bill Day declined comment on the issue. However, he noted that Valero Chief Executive Bill Klesse told analysts nearly a year ago that the company was considering options for the two plants in light of a 2006 California law that requires emissions to match 1990 levels by 2020, which could cost hundreds of millions of dollars in upgrades to achieve.

During Valero's third-quarter 2011 conference call, an analyst asked if long-term viability of Valero's California refineries could be in question given the looming regulations.

"We're looking at our options," Klesse replied.


Read the Full Article

Submitted Oct 20, 2012 By: NOTSOGRN
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Valero seeking to sell California refineries-report Back to Topics
REPLIES (newest first) Post a Reply
honda0105
Champion Author Tallahassee

Posts:24,080
Points:2,392,115
Joined:Nov 2008
Message Posted: Oct 24, 2012 5:43:08 AM

gonna see more of this as Pig Oil reaps record profits and no maintenance is being done.
honda0105
Champion Author Tallahassee

Posts:24,080
Points:2,392,115
Joined:Nov 2008
Message Posted: Oct 23, 2012 6:07:18 AM

that's what happens when you don't put money into upkeep.
nsdp
Champion Author San Antonio

Posts:1,119
Points:77,430
Joined:Jun 2012
Message Posted: Oct 21, 2012 4:58:25 PM

Obviously you people know nothing about Valero's balance sheet or you would know they couldn't afford to sell them in today's market since they would be heavily penalized for not having done anything other than waste a bunch of money on Prop 23 to try to solve the problem. Sitting there doing nothing for 6 years has come home to roost. Closing them would cost 4 or 5 times as much because of the cleanup required. Management made a bad bet and now has to pay for it. Exxon Shell and Chevron had no problem getting ready. Tesoro is in a bind as well.
EconomiserAZ
All-Star Author Tucson

Posts:877
Points:172,010
Joined:Mar 2011
Message Posted: Oct 21, 2012 1:33:21 PM

I felt compelled to go to press on this one. But contributor 'bshort' just nailed it. Well done, mate!.

You know for the longest time I have been going to buy myself a nice gift. Something refined. Maybe and oil well?
bsnort
Champion Author Huntsville

Posts:1,595
Points:868,310
Joined:Aug 2012
Message Posted: Oct 21, 2012 12:30:45 PM

You wonder why people/businesses pack up and leave the left coast. Only ones moving in are the freeloaders/illegal immigrants. What is cali gonna do when it runs out of other people's money?
daequitz
Champion Author New Jersey

Posts:9,536
Points:2,161,945
Joined:Jan 2007
Message Posted: Oct 21, 2012 6:43:52 AM

I'll buy it. How much?
NOTSOGRN
Champion Author Michigan

Posts:2,600
Points:2,192,780
Joined:Dec 2007
Message Posted: Oct 21, 2012 2:02:01 AM

.
.
Kinda like a Hugo thing...
Sneakers55
Champion Author Houston

Posts:64,051
Points:2,803,390
Joined:Nov 2005
Message Posted: Oct 21, 2012 1:43:45 AM

On Oct 20, 2012 11:08:14 PM, RAE344 wrote:

>This would devastate the chances of the president
>winning California in his re-election bid.

It's not going to be an issue, the possibility is out there but it will probably be years before anything happens.

>I would not be surprised if he borrowed some more
>money from our future generation and federalized
>those refineries.

I would be very surprised if Obama nationalized anything relating to the oil industry.

He has enough of a mess with Government Motors and the Post Office already.

Ahking
Champion Author Orange County

Posts:3,618
Points:625,235
Joined:May 2011
Message Posted: Oct 21, 2012 1:40:10 AM

talks.
Melinda205
Champion Author Alabama

Posts:2,739
Points:537,915
Joined:May 2012
Message Posted: Oct 21, 2012 1:29:46 AM

Okay
Number43
Champion Author Lexington

Posts:12,080
Points:2,420,365
Joined:Oct 2008
Message Posted: Oct 21, 2012 12:25:33 AM

More regulation will mean higher cost to drivers no matter who owns them.
Number43
Champion Author Lexington

Posts:12,080
Points:2,420,365
Joined:Oct 2008
Message Posted: Oct 21, 2012 12:24:26 AM

Gas prices will go higher in Ca.( and stay high).
hotrod_brother
Champion Author Tampa

Posts:12,606
Points:2,232,195
Joined:Oct 2006
Message Posted: Oct 21, 2012 12:16:33 AM

Californication !!!
boatfloyd
Champion Author Jacksonville

Posts:5,027
Points:1,168,615
Joined:Mar 2012
Message Posted: Oct 21, 2012 12:16:17 AM

Far Out.
judgemobile
Champion Author Ohio

Posts:10,834
Points:3,227,325
Joined:Nov 2005
Message Posted: Oct 21, 2012 12:10:24 AM

if oil industry were looking better in the future, why would thy sell ?
rxman1
Champion Author Toledo

Posts:13,031
Points:2,641,570
Joined:Nov 2007
Message Posted: Oct 21, 2012 12:09:00 AM

What? What? More regulations! Is this acway of creating more jobs.?
snky2k
Champion Author Indianapolis

Posts:3,589
Points:1,034,070
Joined:Mar 2012
Message Posted: Oct 21, 2012 12:08:49 AM

Be careful, California lawmakers.
PrinceLH
Champion Author Ontario

Posts:5,967
Points:1,319,070
Joined:Jun 2011
Message Posted: Oct 21, 2012 12:08:19 AM

Get it done!
RAE344
Champion Author Virginia Beach

Posts:6,377
Points:1,439,485
Joined:Jun 2011
Message Posted: Oct 21, 2012 12:08:14 AM

This would devastate the chances of the president winning California in his re-election bid. I would not be surprised if he borrowed some more money from our future generation and federalized those refineries.
1fulltank
Champion Author Buffalo

Posts:10,942
Points:2,289,355
Joined:Nov 2008
Message Posted: Oct 21, 2012 12:08:09 AM

I'm a little short this week.
Blue_Cruzer
Champion Author Lexington

Posts:8,894
Points:1,942,465
Joined:Mar 2007
Message Posted: Oct 21, 2012 12:07:16 AM

I wonder if Valero is looking for serious?
PrinceLH
Champion Author Ontario

Posts:5,967
Points:1,319,070
Joined:Jun 2011
Message Posted: Oct 21, 2012 12:06:16 AM

I hope it spurs more refineries to be built.
vibdata
Champion Author Massachusetts

Posts:5,136
Points:1,078,590
Joined:Nov 2005
Message Posted: Oct 21, 2012 12:06:05 AM

So you are saying, that with all the increased regulations and improvements over the past 20 years, that the emissions in 2020 must match those of long ago? I do not understand this at all. I thought there were IMRPOVEMENTS year to year all the time?

How can the emissions in 2020 match those of 1990 unless they get much WORSE?

This is ridiculous.
shores4now
Champion Author Kentucky

Posts:5,740
Points:1,304,775
Joined:Jul 2009
Message Posted: Oct 21, 2012 12:05:14 AM

Ok
ManOfLeisureII
Champion Author Philadelphia

Posts:5,035
Points:1,228,640
Joined:Jan 2012
Message Posted: Oct 21, 2012 12:04:38 AM

Tough to make a buck in Kal-eye-four-nye-yea.
JamesCalvin
Champion Author Lancaster

Posts:6,533
Points:1,297,085
Joined:Nov 2011
Message Posted: Oct 21, 2012 12:03:51 AM

Hey, Hey! Hey!
Cableman66
Champion Author North Carolina

Posts:5,708
Points:1,269,200
Joined:May 2011
Message Posted: Oct 21, 2012 12:03:43 AM

Old news.
bowler360
Champion Author Illinois

Posts:5,028
Points:1,270,370
Joined:Jun 2011
Message Posted: Oct 21, 2012 12:02:01 AM

money maker. maybe i'll buy one.
darkknight1
Champion Author Winston-Salem

Posts:7,550
Points:1,675,160
Joined:Nov 2010
Message Posted: Oct 20, 2012 11:57:49 PM

ok
Cableman66
Champion Author North Carolina

Posts:5,708
Points:1,269,200
Joined:May 2011
Message Posted: Oct 20, 2012 11:57:07 PM

Self inflict wounds at the pump. Sorry guys better stop smoking the weed or start cause looks like your pump price is of your own doing.
30mpg80
Champion Author Lexington

Posts:15,215
Points:2,269,920
Joined:Nov 2008
Message Posted: Oct 20, 2012 11:56:17 PM

When you have options, they will be considered, duh!
tidalwave3
Champion Author Tallahassee

Posts:2,778
Points:2,188,455
Joined:Jun 2008
Message Posted: Oct 20, 2012 11:53:56 PM

More California regs. killing business and consumers :(
clermont40miles
Champion Author Cincinnati

Posts:14,689
Points:2,548,460
Joined:Apr 2008
Message Posted: Oct 20, 2012 11:53:32 PM

Can't blame ANY business for leaving the Socialist state of Caleefornia.

Adios.
kbierley
Champion Author Dayton

Posts:10,767
Points:1,422,395
Joined:Nov 2003
Message Posted: Oct 20, 2012 11:53:17 PM

Sell them to who?
abacus44
Champion Author Toms River

Posts:6,545
Points:1,516,105
Joined:Jan 2011
Message Posted: Oct 20, 2012 11:53:04 PM

California gets what it votes for.
scubadaniel
Champion Author Dayton

Posts:4,535
Points:1,462,540
Joined:Jan 2011
Message Posted: Oct 20, 2012 11:52:12 PM

Any takers out there? Wanna be a oil tycoon?
smokay
Rookie Author New Hampshire

Posts:59
Points:46,090
Joined:Aug 2012
Message Posted: Oct 20, 2012 11:51:27 PM

Wow
raj_fl
Champion Author Trenton

Posts:4,327
Points:1,338,205
Joined:Oct 2010
Message Posted: Oct 20, 2012 11:47:41 PM

nice
raj_fl
Champion Author Trenton

Posts:4,327
Points:1,338,205
Joined:Oct 2010
Message Posted: Oct 20, 2012 11:47:26 PM

well u know what who ever buys the refinery will have to upgrade
Dodge_Me
Champion Author Atlanta

Posts:2,222
Points:1,155,040
Joined:Mar 2006
Message Posted: Oct 20, 2012 11:47:26 PM

Hmm
nickatnite
Veteran Author Indianapolis

Posts:373
Points:854,725
Joined:May 2012
Message Posted: Oct 20, 2012 11:46:51 PM

Nice
Daveyfudd
All-Star Author Jackson

Posts:914
Points:1,236,200
Joined:May 2008
Message Posted: Oct 20, 2012 11:45:30 PM

Whatever a man sows (in this case, a state), he (California) is going to reap!

California has beautiful weather but that's about it.
colaguy
Champion Author Columbia

Posts:5,109
Points:1,563,395
Joined:Oct 2008
Message Posted: Oct 20, 2012 11:45:08 PM

ok
Jeeputtputt
Champion Author Ohio

Posts:3,042
Points:693,325
Joined:Aug 2009
Message Posted: Oct 20, 2012 11:43:28 PM

what?
livedream
Champion Author Michigan

Posts:7,129
Points:1,528,595
Joined:Mar 2011
Message Posted: Oct 20, 2012 11:43:11 PM

Good point, us4usa!

California residents should all switch to electric cars.

No more emissions. No more gas gouging at the pumps!
OOXXFF
Champion Author Greensboro

Posts:6,263
Points:1,853,195
Joined:Sep 2009
Message Posted: Oct 20, 2012 11:41:31 PM

Not good news.
munch252
Veteran Author Cleveland

Posts:301
Points:219,540
Joined:Aug 2012
Message Posted: Oct 20, 2012 11:37:19 PM

I'll bu yit
us4usa
Champion Author Missouri

Posts:7,163
Points:1,564,050
Joined:May 2008
Message Posted: Oct 20, 2012 11:35:37 PM

Hey GM should buy them, then shut them down gas prices jump, and everyone in Cali. will buy a volt...
TheHermit
Champion Author Maine

Posts:3,452
Points:275,915
Joined:May 2012
Message Posted: Oct 20, 2012 11:31:03 PM

Raffle them off
SparkieMi
Champion Author Kalamazoo

Posts:6,335
Points:1,346,675
Joined:Sep 2011
Message Posted: Oct 20, 2012 11:30:49 PM

Interesting...
mstearno
Champion Author Dayton

Posts:9,689
Points:2,359,560
Joined:Jan 2008
Message Posted: Oct 20, 2012 11:25:51 PM

that's what they get
Post a reply Back to Topics