Valero Energy Corporation Is Doing Everything It Can to Prevent Oil Exports
Well, at least Valero is putting its money where its mouth is. After recently announcing that it was against easing regulations agains crude oil exports from the U.S., the company recently unveiled plans to spend more than $700 million to increase its refining capacity for light cruudes coming out of the Eagle Ford Shale by 160,000 barrels per day. Increased refining capacity for shale oil, not domestic consumption, will be the determining factor in whether exporting oil will be necessary to keep the boom in oil and gas rolling in the future.
Find out why increased pipelines from the Eagle Ford and the Permian Basin like Magellan Midstream Partners' BridgeTex pipeline are making Valero's refinery conversion possible and what this move means to Valero as a whole by tuning into the video below.
What will be 2014's top-performing stock?
The Motley Fool's chief investment officer really nailed his 2013 top stock pick with oil services company Core Labs, which shot up a spectacular 75%! Now, he has selected his No. 1 stock for 2014, and it has "top-performing stock" written all over it. You can find out which stock it is in the special report: "The Motley Fool's Top Stock for 2014." Simply click here and we'll give you free access to the name of this under-the-radar company.
The article Valero Energy Corporation Is Doing Everything It Can to Prevent Oil Exports originally appeared on Fool.com.Fool contributors Aimee Duffy and Tyler Crowe have no position in any stocks mentioned. You can follow them on Twitter @TMFDuffy and @TylerCroweFool, respectively. The Motley Fool recommends Magellan Midstream Partners, L.P. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2014 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.