Apparently, not every company is on board with the U.S. lifting the ban on crude oil exports. In a recent statement, Valero (NYSE:VLO) said it supports the U.S.'s current position of severely restricting the export of crude oil. If you look at what Valero has to gain from it, though, you wouldn't be surprised. The company has plans to export over 400,000 barrels per day of petroleum products, and restricting crude oil exports will keep prices low for Valero's feedstocks.
- Jan 13, 2014 at 1:15PM
- Energy, Materials, and Utilities