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Author Topic: Booming North American Oil Supply Boosts U.S. Refiners' Profits Back to Topics
RENEGADEGAS

Champion Author
Missouri

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Message Posted: May 1, 2013 1:28:14 AM

A growing influx of cheap, North American-produced oil once again lifted the profits of refiners Valero Energy Corp. (VLO) and Marathon Petroleum Corp. (MPC), as the companies said they expected even more domestic crude to reach their gates in the near term.

Valero's intake of light, sweet crude, most of it produced in the U.S., reached an all-time high of one million barrels a day in the first quarter, up 25% from the year before. That helped the San Antonio refiner beat expectations with a profit of $654 million, or $1.18 a share, versus a loss of $432 million a year earlier. Analysts polled by Thomson Reuters had most recently forecast earnings of $1 a share on revenue of $30.41 billion.


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REPLIES (newest first) Post a Reply
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jtravis711
Veteran Author Orange County

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Message Posted: May 15, 2013 1:29:15 AM

More production, more refining and lower fuel prices for Americans. If thats not the answer..then why not?
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tomok
Champion Author Portland

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Message Posted: May 10, 2013 2:41:25 AM

Booming North American Oil Supply Boosts U.S. Refiners' Profits! US Refiners' Profits are tremendous and are higher every day.
Big Oil sells fuel on the world market for higher prices. The US ‘oil resources’ belong to the citizens of this country and are to be used by those same citizens! The price at the pump needs to go down to $2/gallon - *$3, *$3.50/gallon or *$4.00 is Not the new low!
More Refineries are Not the answer, Stop exporting fuel is!
*If 'they' can export all that fuel, there are enough refineries already, there is no need for more!
Take care of the domestic fuel market first and above all else before exporting and selling fuel to other countries!
Drive vehicles with high MPG, are very safe, reliable, have a ‘reasonable’ cost and a good ‘value’ for the money.
The price of fuel at the pump is too high!
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honda0105
Champion Author Tallahassee

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Message Posted: May 3, 2013 7:46:37 AM

so, where's the price drop at the pump?
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tidalwave3
Champion Author Tallahassee

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Message Posted: May 2, 2013 8:29:38 AM

Oh well.... get it
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DrCashFlow
Champion Author Massachusetts

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Message Posted: May 2, 2013 5:22:22 AM

curbing supply hasn't hurt the refiners either
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KrsnaDragon
Champion Author Montreal

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Message Posted: May 2, 2013 3:34:47 AM

Good news.
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comprof
Champion Author Houston

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Message Posted: May 2, 2013 2:21:54 AM

Great!
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comprof
Champion Author Houston

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Message Posted: May 2, 2013 2:20:10 AM

Keep drilling.
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JagXKR
Champion Author British Columbia

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Message Posted: May 2, 2013 12:27:37 AM

Hopefully retirement funds have invested in the oil patch so they can help those who are trying to save for that day. Unfortunately with the economy the way it is there are a lot who can't even think about retirement.
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Aviator_Rob
Champion Author New York

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Message Posted: May 2, 2013 12:27:15 AM

Your boss just called, @clermont40miles. He says you need to take a pay cut or else you're fired.

Produce.
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Aviator_Rob
Champion Author New York

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Message Posted: May 2, 2013 12:25:34 AM

Only if you're a majority stockholder in Valero will you see any of this money, @BobD2009. Once more, the super-rich rob the rest of us, and laugh in our faces.
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Aviator_Rob
Champion Author New York

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Message Posted: May 2, 2013 12:23:33 AM

You heard it here. The refiners are taking the discount they get from refining tight oil pumped domestically and are pocketing the difference.

If you're still wondering why gas prices haven't come down as much as oil prices, here's your first clue.
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crreed1
Champion Author West Virginia

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Message Posted: May 2, 2013 12:22:48 AM

good
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rahcat
Champion Author Grand Rapids

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Message Posted: May 2, 2013 12:19:42 AM

No profits.....no jobs.
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dongo50
Champion Author West Virginia

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Message Posted: May 2, 2013 12:18:10 AM

ok
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jrsva
Champion Author Virginia

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Message Posted: May 2, 2013 12:17:34 AM

“So the Oil Companies are making the profits on the U.S.A. Oil.
Not the consumers of gasoline.”

A. Is there anything new about that?
B. Is anyone surprised?

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jrschl
Champion Author Louisville

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Message Posted: May 2, 2013 12:16:11 AM

As they ship it out of the country.
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Focus2
Champion Author Illinois

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Message Posted: May 2, 2013 12:14:09 AM

Time to end the subsidies to big oil.
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bolobill
Champion Author Michigan

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Message Posted: May 2, 2013 12:13:14 AM

ok
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pa79th
Champion Author Pennsylvania

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Message Posted: May 2, 2013 12:12:47 AM

Everybody gets a cut of the pie...except the retail buyers!
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boatfloyd
Champion Author Jacksonville

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Message Posted: May 2, 2013 12:12:43 AM

So the Oil Companies are making the profits on the U.S.A. Oil.
Not the consumers of gasoline.
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obimerrill
Champion Author Cincinnati

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Message Posted: May 2, 2013 12:09:56 AM

Good...but how about OUR pocketbooks!!??
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BobD2009
Champion Author Long Island

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Message Posted: May 2, 2013 12:09:34 AM

I'd say that's a good thing. Americans making money and getting jobs can't be bad.
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OGW
Champion Author London

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Message Posted: May 2, 2013 12:08:00 AM

But at the expense of drivers!
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grt197
Champion Author Illinois

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Message Posted: May 2, 2013 12:07:15 AM

ok
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fharri7196
Sophomore Author Miami

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Message Posted: May 2, 2013 12:05:46 AM

Ok
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TheSicilian
Champion Author Jacksonville

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Message Posted: May 2, 2013 12:05:09 AM

would be nice if it lowered the pump price
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Rooster922
Champion Author Wilmington

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Message Posted: May 2, 2013 12:03:58 AM

Yep
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ManOfLeisureII
Champion Author Philadelphia

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Message Posted: May 2, 2013 12:02:42 AM

If you can't beat 'me, buy their stock....
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russiam
All-Star Author Cincinnati

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Message Posted: May 2, 2013 12:02:06 AM

Ok
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UrbEx219
Sophomore Author Gary

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Message Posted: May 2, 2013 12:00:08 AM

More corporate profits, prices keep going up. of course republican-controlled faux news would report on this - to gloat!
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dld1295
All-Star Author Detroit

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Message Posted: May 1, 2013 11:58:44 PM

Lower gas prices
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OKRifle
Champion Author Oklahoma City

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Message Posted: May 1, 2013 11:57:22 PM

Well, of course!
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bvrbill
Champion Author Eugene

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Message Posted: May 1, 2013 11:53:14 PM

It's time to see pump prices fall.
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CCLighthouse
Champion Author Hartford

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Message Posted: May 1, 2013 11:49:04 PM

It needs to be back down under $2.00 a gal.
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hank1326
Champion Author Los Angeles

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Message Posted: May 1, 2013 11:47:34 PM

Meanwhile, we are still getting raked at the pumps.
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flyfast
Champion Author Kansas City

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Message Posted: May 1, 2013 11:46:26 PM

kept the money at home
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Hewy67
Sophomore Author Grand Rapids

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Message Posted: May 1, 2013 11:45:06 PM

and....
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firefly09
Champion Author San Diego

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Message Posted: May 1, 2013 11:44:21 PM

When gas goes below $3.00 I will be happy.
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bonzoonfmb
Champion Author Florida

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Message Posted: May 1, 2013 11:38:49 PM

Gas prices are too high.
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jackster111
Champion Author North Carolina

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Message Posted: May 1, 2013 11:35:36 PM

Hmmm
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kcboy
Champion Author Utah

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Message Posted: May 1, 2013 11:34:23 PM

Interesting
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Darwin00
Champion Author Mississippi

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Message Posted: May 1, 2013 11:30:10 PM

That's right!
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us4usa
Champion Author Missouri

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Message Posted: May 1, 2013 11:28:10 PM

Tell OPEC to kiss our A$$, they have no B plan...
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Hop1LA
Champion Author Baton Rouge

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Message Posted: May 1, 2013 11:27:37 PM

And we're still paying more than $3/gal.
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Robert44
Champion Author Columbus

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Message Posted: May 1, 2013 11:27:03 PM

Good for them may mean good for us?
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wayoung56
Champion Author Alabama

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Message Posted: May 1, 2013 11:22:55 PM

Interesting...
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clermont40miles
Champion Author Cincinnati

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Message Posted: May 1, 2013 11:22:40 PM

Profits means jobs. Your paycheck is your profit. Is that dirty and wrong?

Produce.
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louderthanlove
Champion Author Portland

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Message Posted: May 1, 2013 11:21:28 PM

utilize the resources
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69Bonne
Champion Author Gary

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Message Posted: May 1, 2013 11:20:06 PM

Well, then there should be lower prices at the pump.
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