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Gold/Mining/Energy : VLO: Valero Energy Corp.
VLO 181.78+3.4%Nov 14 9:30 AM EST
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To: Daniel G. DeBusschere who wrote (5)5/29/2001 7:56:37 PM
From: flint  Read Replies (1) of 299
 
The 4 to 8 is wrong. I wrote that from memory, but since then Vice President Dick Cheny addressed the problem. Currently there are over 50 different blends of Gasoline. Each major city has its own blends. Dick Cheny wants to see that number reduced. He believes the refineries are not setup to produce and store the variety required. The large choices of blends with limited storage capacity is what allows each company to pick out specific grades and produce them with little competition.

VLO is setup to produce the special blends that the midwestern cities require. If the blends become more normalize I believe they will lose the huge advantage each company has from the limited competition that 50 plus blends creates. The industry on a whole has become so cash rich though that they are destine to be good investments even if things return to normal in the future.

The fact that Dick Cheny used to be an executive at HAL and Bush of course being pro-oil seems to be backfiring on their plan to normalise the gasoline industry. The large Democratic cities simply do not trust the Republicans. It is their right to have their own special gasoline and it appears to be what they are going to get, for awhile at least.

Also keep in mind the explosion in the number of gasoline grades occured under the Democrats. These people have shown great resentment towards Bush's reversal of Clinton's actions. Now that the Democrats out number the Republicans, out of spite if nothing else expect no change for the next 2 years.
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