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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: Paul Senior who wrote (12)4/24/2005 4:18:00 AM
From: Wyätt Gwyön   of 299
 
my understanding is that with the widespread use of pay-at-the-pump pumpheads (freeing up the store clerk from receiving the bulk of gasoline revenue at the register), retail outlets have been able to refocus themselves as small convenience stores which many people actually use even if they are not buying gas. so it is kind of a separate clientele.

of course, for VLO, crack spreads and the discount for sour crude will have much greater impact on the bottom line. i thought the latest CC was very positive as these guys are practically printing money on their sour runs. the CEO suggested that 2005 was shaping up to be even better than last year, and 2006 could be better still.

it makes sense in a world where light sweet crude has already peaked.
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