Commodities - The Coming Bull Market Message Board

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Strategies & Market Trends : Commodities - The Coming Bull Market

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To: craig crawford who wrote (108)	6/5/2001 4:14:19 PM
From: craig crawford	Read Replies (1) of 1643

Tuesday June 5, 3:15 pm Eastern Time Valero to cut runs unless exempted from Ca. blackouts NEW YORK, June 5 (Reuters) - Valero Energy Corp. (NYSE:VLO - news) said on Tuesday it would be forced to reduce production of gasoline and other distillates at its 130,000 barrel per day (bpd) Benecia refinery in California if it were not exempted from rolling blackouts this summer. A spokeswoman for the company said the planned blackouts, caused by an electricity crunch in the state, would force the plant to rely on back-up generators to avoid routine shutdowns, ``and we don't have the back-up generation to maintain full production.'' The company could not immediately estimate what percentage of its production could be maintained using its own generators, but said ``this would further tighten the gasoline market.'' The San Francisco Chronicle reported Tuesday that Chevron would also reduce runs at its California plants if refineries were not exempted from the planned blackouts this summer.

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