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Nov 5th, 2009 by David Anderson

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on 20 Nov 2009 at 12:381annoni

Valero to close Del. refinery (good job Mr. VP, evil energy co. gets its just deserts)

Philadelphia Inquirer ^ | 11/20/2009 | staff
Valero Energy Corp., the largest U.S. refiner, announced today that it will permanently close its Delaware City, Del., plant because of losses brought on by the poor economy. The shutdown is expected to affect about 550 employees. “A safe and orderly shutdown of the refinery will commence immediately,” the San Antonio, Texas-based company said today in a statement, adding that employees were told today of the move. The company said it expects to save $450 million in operating expenses next year by shutting the refinery.
on 26 Nov 2009 at 11:532annoni

How Carbon Bill Would Hit Valero Energy
Forbes ^ | November 13, 2009 | Christopher Helman

Posted on Thursday, November 26, 2009 8:53:55 AM by reaganaut1

William Klesse, chief executive of oil refiner Valero Energy, is riled up. “I think cap-and-trade is ludicrous,” he says. “The whole bill is a hidden tax.” The so-called climate bill wending its way through the Senate aims to create a cap-and-trade regime covering emissions of carbon dioxide and other greenhouse gases. If it passes in anything close to its current form, the bill would milk more carbon cash (payments to the government for the right to pollute) out of refiners than any other industry–somewhere between $30 billion and $110 billion a year. Valero, as America’s biggest refiner (2.4 million barrels a day), would pay on the order of $7 billion a year.

The numbers are massive because the bill would hit refiners twice. First they would have to pay for allocations covering the carbon emissions from their factories (roughly 5% of total U.S. emissions). Then they would also be responsible for the tailpipe emissions from the combustion of all the automotive fuels they sell (roughly 40% of U.S. emissions). Klesse, 62, moans that politicians are “picking winners and losers” in figuring emissions allocations.

One problem with this analysis: It’s motorists who will pay, as refiners simply tack carbon costs onto the price of gasoline. Valero Energy admits as much: Placards posted atop each pump at Valero’s 5,800 branded gas stations feature the iconic illustration of a finger-pointing Uncle Sam and the words, “You will pay the price.” The sign says that cap-and-trade “will cost you 77 cents or more a gallon.”

…

In five years the U.S. will have the plants to produce some 70 million more gallons of fuel a day than it needs, figures Deutsche Bank’s Paul Sankey. Under cap-and-trade that extra fuel wouldn’t be exported because it couldn’t compete with new refineries, unburdened with carbon regulations

(Excerpt) Read more at forbes.com …
on 03 Dec 2009 at 18:293annoni

Secret Service: Threats Against Obama No Higher than Normal

CBS ^ | 12/3/09 | Stepahine Condom
The director of the Secret Service today disputed widely-reported claims that President Obama is receiving more death threats than previous presidents. At a congressional hearing into the White House security breach that took place last week, when Tareq and Michaele Salahi “crashed” the White House state dinner, Secret Service Director Mark Sullivan said the current threat level against the president is normal. “The threats right now … is the same level as it has been for the previous two presidents at this point in their administrations,” Sullivan said. Sullivan was the only requested witness who agreed to testify today before…

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