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Valero's Klesse: economy is biggest 2010 challenge

Reuters -- PHOENIX, March 21 - Valero Energy Corp Chief Executive Bill Klesse said on Sunday that the biggest challenge facing refiners in 2010 is the economy.

Klesse, who also heads the National Petrochemical Refiners Association, told the association's annual meeting that legislation in Washington is threatening the industry.

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Submitted Mar 21, 2010 By: Mudsprings

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granitestater Champion Author New Hampshire Posts:3,904 Points:600,875 Joined:Oct 2008	Message Posted: Mar 22, 2010 2:40:22 AM Ignore granitestater Report Abuse don't be fooled--oil and gas can never be cheap again--See here--unless you develop a new recovery technique like hydro-fracturing for natural gas. The cheap oil is gone. And the taxes are starting to pile up on gasoline.
Mooseman1 Champion Author Manitoba Posts:5,353 Points:897,015 Joined:Jul 2007	Message Posted: Mar 22, 2010 1:26:00 AM Ignore Mooseman1 Report Abuse Economy is always the biggest challenge. The only difference is now the inflation rate is more closely tied with crude pricing.
benjy Champion Author Chicago Posts:4,606 Points:856,655 Joined:Nov 2003	Message Posted: Mar 22, 2010 1:19:09 AM Ignore benjy Report Abuse they forgot their meeting on getting blood from a turnip....
250FORD Champion Author Minnesota Posts:7,494 Points:1,199,535 Joined:Feb 2007	Message Posted: Mar 22, 2010 1:18:28 AM Ignore 250FORD Report Abuse Drop the price of oil and gas and the economy will burst into prosperity all over again.
grouch311 Champion Author Illinois Posts:3,869 Points:637,805 Joined:Jun 2007	Message Posted: Mar 22, 2010 1:18:15 AM Ignore grouch311 Report Abuse legislation is everyone's problem and enemy
letmathe Champion Author Chicago Posts:9,830 Points:2,250,120 Joined:May 2001	Message Posted: Mar 22, 2010 1:09:48 AM Ignore letmathe Report Abuse This industry is suffering with the rest of the economy, it seems.
rimpyCA Champion Author Los Angeles Posts:1,470 Points:305,495 Joined:Aug 2009	Message Posted: Mar 22, 2010 1:04:28 AM Ignore rimpyCA Report Abuse really
AtascaderoHound All-Star Author California Posts:557 Points:588,690 Joined:Oct 2006	Message Posted: Mar 22, 2010 1:03:48 AM Ignore AtascaderoHound Report Abuse Biggest challenge for refiners is how to squeeze more out of the customers!
MidNJ Champion Author New Jersey Posts:1,341 Points:213,980 Joined:Sep 2009	Message Posted: Mar 22, 2010 1:01:12 AM Ignore MidNJ Report Abuse This article does not define who, "THEY" are. Please define who the THEY is in, "They don't understand the importance to our national security," said Charles Drevna, of the NPRA.
Bussman Champion Author Dallas Posts:1,627 Points:489,405 Joined:Nov 2008	Message Posted: Mar 22, 2010 12:59:10 AM Ignore Bussman Report Abuse "It's the economy stupid!"
BlackHorse Champion Author Twin Cities Posts:2,454 Points:618,785 Joined:Dec 2002	Message Posted: Mar 22, 2010 12:57:26 AM Ignore BlackHorse Report Abuse legislation in Dc is threating EVERYONE
joel27nc Champion Author Raleigh Posts:5,347 Points:852,095 Joined:Mar 2008	Message Posted: Mar 22, 2010 12:56:07 AM Ignore joel27nc Report Abuse With the House just passing the health care bill, the economy doesn't stand a chance.
Sportdeck Champion Author Atlanta Posts:8,152 Points:1,563,425 Joined:Sep 2003	Message Posted: Mar 22, 2010 12:55:00 AM Ignore Sportdeck Report Abuse Why doesn't he and his cohorts at other energy companies and refineries lower prices and help the economy instead of continually pushing the price up and keeping a stranglehold on the American Economy.
frogponder42 Rookie Author Colorado Posts:74 Points:11,300 Joined:Mar 2010	Message Posted: Mar 22, 2010 12:50:07 AM Ignore frogponder42 Report Abuse no, not Washington just wait like the article said it all pick-up by 2011
humblepie Champion Author Toledo Posts:7,757 Points:1,359,340 Joined:Mar 2006	Message Posted: Mar 22, 2010 12:41:51 AM Ignore humblepie Report Abuse but washington keeps saying the recession is over could they be telling a mistruth ?
Vette1967 Champion Author Albany Posts:1,242 Points:292,375 Joined:Jun 2009	Message Posted: Mar 22, 2010 12:38:35 AM Ignore Vette1967 Report Abuse We are all feeling this stagnate economy.
BobD2009 Champion Author Long Island Posts:1,723 Points:228,435 Joined:Apr 2009	Message Posted: Mar 22, 2010 12:38:33 AM Ignore BobD2009 Report Abuse Recent articles say usage is up over last year. Stock piles as a result are going down, but yet 2 refineries went out of business and closed. This bad economy is bad and pundits say the worst is still ahead of us. Not a good climate for any business.
ops3 Champion Author Cincinnati Posts:1,229 Points:737,025 Joined:Dec 2007	Message Posted: Mar 22, 2010 12:38:25 AM Ignore ops3 Report Abuse Better get ready to use all that money made between 2001 and 2008!
MidNJ Champion Author New Jersey Posts:1,341 Points:213,980 Joined:Sep 2009	Message Posted: Mar 22, 2010 12:36:02 AM Ignore MidNJ Report Abuse Join the Tea Party: Just say NO, NO, NO, NO!!!
Sealer Champion Author Charleston Posts:5,648 Points:837,475 Joined:Jan 2008	Message Posted: Mar 22, 2010 12:30:10 AM Ignore Sealer Report Abuse Refiners definitely have it hard because falling U.S. demand and the forced use of alternative fuels means a surplus of refining capacity and even lower profits in an industry with already low profits.
SLYboogie Sophomore Author Colorado Springs Posts:132 Points:78,760 Joined:Feb 2010	Message Posted: Mar 22, 2010 12:29:54 AM Ignore SLYboogie Report Abuse Well, GreenFrog, I am a hermit.....trust, they still be collecting taxes deemed necessary.... Can't beat the system, although my dad has been deceased for 6 years this year , and my mom still receives mail directly addressed to his full name from the I.R.S. You'd think of all organizations/companies, one of the first to know/realize/look into verification would be a large government agency, such as, duh- the IRS!
greenfog Champion Author Illinois Posts:1,543 Points:640,750 Joined:Feb 2008	Message Posted: Mar 22, 2010 12:18:56 AM Ignore greenfog Report Abuse i am almost to point of becoming a hermit and then see if they can get their taxes.
tedjm1 Champion Author New York Posts:1,367 Points:159,230 Joined:Dec 2006	Message Posted: Mar 22, 2010 12:18:03 AM Ignore tedjm1 Report Abuse I think that the gov't. should rein in all types of companies. As of now, the higher-ups make big money with bonuses for what? Why should they get paid this money? Are they worth it? I doubt it. They get their money, then after a while they leave, whether on their own or told to go, get great severence pay and smile to the bank. The people at the lower levels are the ones who break their backs, and do not even get raises, much less bonuses, that come up to the executive values. Company profits (questionable) pay the execs money for a great job.
10k Champion Author North Carolina Posts:12,604 Points:1,241,625 Joined:May 2006	Message Posted: Mar 22, 2010 12:15:53 AM Ignore 10k Report Abuse yup loneguy.. we in north carolina already have compiled the list of who goes out the door in november..
altima2008 Champion Author Philadelphia Posts:3,054 Points:731,410 Joined:Apr 2008	Message Posted: Mar 22, 2010 12:15:09 AM Ignore altima2008 Report Abuse Whatever economy we have left won't be around much longer!
DarthDadJr Champion Author Virginia Posts:3,177 Points:609,315 Joined:Jul 2008	Message Posted: Mar 22, 2010 12:14:13 AM Ignore DarthDadJr Report Abuse Nothing like stating the obvious....
LoneGuy Champion Author Lansing Posts:3,456 Points:1,324,450 Joined:Aug 2005	Message Posted: Mar 22, 2010 12:13:42 AM Ignore LoneGuy Report Abuse The government thinks we are rich enough to fund a trillion dollar health care system.
thriftymeCA Sophomore Author Oakland Posts:127 Points:31,075 Joined:Feb 2010	Message Posted: Mar 22, 2010 12:13:35 AM Ignore thriftymeCA Report Abuse Don't trust big oil or Washington insiders!
toyrunner300 Champion Author Calgary Posts:1,925 Points:971,290 Joined:Jan 2007	Message Posted: Mar 22, 2010 12:11:51 AM Ignore toyrunner300 Report Abuse They are whining for money...next bailout is for them.
scrounger Champion Author Vancouver Posts:8,250 Points:2,205,165 Joined:Mar 2003	Message Posted: Mar 22, 2010 12:11:31 AM Ignore scrounger Report Abuse lot of the economy problems are caused by the refiners and big oil
lucky69 Champion Author Austin Posts:1,651 Points:594,235 Joined:May 2008	Message Posted: Mar 22, 2010 12:11:21 AM Ignore lucky69 Report Abuse it need to be the biggest concern.
Edtx2009 Champion Author Houston Posts:1,258 Points:260,765 Joined:Jun 2009	Message Posted: Mar 22, 2010 12:11:08 AM Ignore Edtx2009 Report Abuse Agree with ssect8. I hope the Democrats are all kicked out in 2010 and 2012.
ssect8 Champion Author Hartford Posts:2,902 Points:1,187,175 Joined:Jun 2006	Message Posted: Mar 22, 2010 12:08:04 AM Ignore ssect8 Report Abuse I agree with Catmam, our biggest problem are the idiots in the House who voted for this health care bill. This is going to take the USA down the road to bankruptcy.
mwhals Champion Author Charleston Posts:8,450 Points:1,433,235 Joined:Jun 2006	Message Posted: Mar 22, 2010 12:05:45 AM Ignore mwhals Report Abuse Economy for refiners will get even worse with the Health Care bill passing. It will then get even worse than that when Cap and Trade ends up as a law.
FlyNFool Champion Author South Carolina Posts:3,386 Points:685,645 Joined:Aug 2008	Message Posted: Mar 22, 2010 12:05:12 AM Ignore FlyNFool Report Abuse Isn't that the truth with the new health care deal.
CobraLeader Champion Author New Jersey Posts:235,420 Points:1,098,050 Joined:Apr 2007	Message Posted: Mar 22, 2010 12:04:23 AM Ignore CobraLeader Report Abuse Down with Valero!
vulcan96 Champion Author Ohio Posts:17,687 Points:2,091,470 Joined:Aug 2004	Message Posted: Mar 22, 2010 12:03:53 AM Ignore vulcan96 Report Abuse legislation in Washington is threatening the industry. wow -- imagine that !!!
rxman1 Champion Author Toledo Posts:4,153 Points:871,780 Joined:Nov 2007	Message Posted: Mar 22, 2010 12:03:49 AM Ignore rxman1 Report Abuse I think the biggest 2010 challenge will be jobs.
Toppers Champion Author Atlanta Posts:3,932 Points:1,463,940 Joined:Mar 2005	Message Posted: Mar 22, 2010 12:01:44 AM Ignore Toppers Report Abuse & now...healthcare...
HA4CNN All-Star Author Toronto Posts:795 Points:557,715 Joined:Dec 2006	Message Posted: Mar 21, 2010 11:59:37 PM Ignore HA4CNN Report Abuse What a surprise.
sammynorge Champion Author Columbus Posts:1,184 Points:316,765 Joined:Jan 2006	Message Posted: Mar 21, 2010 11:45:45 PM Ignore sammynorge Report Abuse Thank God the Bushian Nightmare is over! CAN'T WAIT FOR SOLAR AND OTHER CLEAN FORMS OF ENERGY TO MAKE OIL AND OTHER FOSSIL FUELS OBSOLETE.
ItsMorph Champion Author Grand Rapids Posts:26,492 Points:2,173,335 Joined:Mar 2004	Message Posted: Mar 21, 2010 11:44:29 PM Ignore ItsMorph Report Abuse Shoot it. It's dead.
GasitupJB Champion Author Columbia Posts:3,714 Points:559,710 Joined:Sep 2005	Message Posted: Mar 21, 2010 11:42:40 PM Ignore GasitupJB Report Abuse I couldn't have said it any better, Catman.
CatMan623 Champion Author Houston Posts:8,306 Points:1,345,150 Joined:Aug 2006	Message Posted: Mar 21, 2010 11:42:09 PM Ignore CatMan623 Report Abuse With the House just passing the health care bill, the economy doesn't stand a chance.
RedRam2005 Champion Author San Antonio Posts:3,390 Points:574,115 Joined:Dec 2007	Message Posted: Mar 21, 2010 11:36:57 PM Ignore RedRam2005 Report Abuse Biggest challenge is an understatement, the Congress is doing everything in their power to weaken the United States.