The U.S. Energy Boom Finally Reverberates
It's happening. The revolution in oil and gas is happening. You just need to know where to look for it. Today we see it in Valero Energy (VLO), the world's largest independent refinery, which reported phenomenal earnings this morning, in large part because of the incredible boom in U.S. drilling.
While there were many positives in the quarter, the best fourth quarter since 2005, when cars were using much more gasoline, Valero gave you this amazing morsel: "We replaced all imported light foreign crude oils with cheaper domestic crude oils at our Gulf Coast and Memphis refineries. Since we expect U.S. and Canadian crude oils to become increasingly available, we are pursuing options to process additional volumes of these cost-advantaged crudes throughout our refining system."...461 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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