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Gold/Mining/Energy : VLO: Valero Energy Corp. -- Ignore unavailable to you. Want to Upgrade?

To: Wyätt Gwyön who wrote (184)	5/31/2007 9:13:09 PM
From: Paul Senior	Read Replies (1) \| Respond to of 299

For me who holds small positions, and being subject to USA taxes, I try to avoid limited partnerships/royalty trusts where I get ---and have to file --- K-1 stuff. Just too much harassment and too difficult. If someone purchases big enough position, maybe such are worthwhile. Or if they like paperwork filling and filing. To me, for small positions I normally have, forget it. I can escape with no more than $1000 "income" of such in an IRA. For that, my preference is to hold shares of BPT. jmo, of course. Others will vary.

To: Wyätt Gwyön who wrote (184)	5/31/2007 10:09:34 PM
From: carranza2	Respond to of 299

Thanks, I will take a look at them. I see that one of the partnerships owns the terminal facility at St. Eustatius which I assume is the old storage facility originally built by a subsidiary of Chicago Bridge and Iron. If I recall correctly, it went private. Looks like one of the partnerships now owns it. License to print money, IMO. I learned quite a bit about the St. Eustatius facility b/c I litigated a case involving an emergency response vessel operated by the terminal company, Statia Terminals. Soundly kicked Chicago Bridge and Iron's butt. No telling what the deal is now, but when I litigated the case, the terminal company had a juicy take or pay contract with ARAMCO. If the same kind of deal is in place now, it is extremely profitable. There was also a Deer Park TX facility as well as one in Canada. A simple cost plus business. How many companies in the world can discharge supertankers, then store the oil until a smaller tanker comes to pick it up?