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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (41406)	9/12/2005 7:43:10 PM
From: ild	Respond to of 110194

NEW YORK, Sept 12 (Reuters) - Valero Energy Corp. (VLO.N: Quote, Profile, Research) said its 78,000 barrels per day, Wilmington, California refinery experienced a total power failure after a major electricity outage hit the Los Angeles area on Monday. Valero said in a statement that "neighboring plants are also impacted." Power was out for thousands of customers and authorities were trying to find out the cause. A fire department spokesman said earlier, "It's a widespread power disruption." Valero spokeswoman Mary Rose Brown said, "At this point, it looks like a problem with the LA City Dept. of Water and Power." Later on Monday, Valero said the refinery was still without power but was expecting electricity to resume soon and the unit would restart immediately. "If power resumes later today as we expect, we would restart immediately," Brown said in a statement. "This would allow us to be at minimum rates by tomorrow and full rates within one to two days, depending on equipment condition." L.A. spot gasoline prices rose 7 cents a gallon as traders said a total of three Los Angeles-area refineries were downed by the outage.