Over the decades, Bill Greehey built a monster of a company over at Valero Energy
I'm referring to the inverted version of Superman, in which Bizarro Superman says and does the opposite of whatever Superman would do. Valero has directed a great deal of effort toward generating gasoline and diesel products from cheaper, lower-quality crude oil. Smaller players such as Frontier Oil
How many headlines have you seen in the past week about the record price of asphalt? About zero, I'd imagine. It isn't nearly as sexy as oil, but the economics of asphalt are quietly becoming very attractive. As more and more U.S. refining capacity is dedicated to creating fuel out of heavy crude, potential asphalt supply gets squeezed.
Bizarro Valero trades under two listed vehicles. In a format common to energy cash cows like Kinder Morgan Energy Partners
NuStar handles far more than just asphalt across its network of pipelines, terminals, and storage facilities. But with Wednesday's announcement of an acquisition of assorted CITGO assets, NuStar's asphalt ascendancy is reasonably assured.