Valero is very bullish even at $400/share due to enormous profits from staying in refining; main risk is government intervention (e.g., export bans) targeting their cash pile.

yeah, the whisper on that seems to be that they would restart Benicia perhaps the Valero refinery uh which was you know regulated out of out of uh operation only in the last year. uh Valera finally capitulated right before this latest crisis actually but you know it was nothing to do with the crisis it just was a bad economic place to operate in California and California has really caused its own problems in a lot of ways so it could be restarting Benicia

One of the conclusions is it's it is even with Valero at $400 $400 a share. It's very bullish for the likes of Valero. You know, it's the the problem for those guys. They're going to make too much money and then it becomes the threat that, you know, somebody in Washington somehow gets their hands on the cash pile or bans exports or something stupid happens.

But for now, you know, the profits of these companies going to be absolutely enormous. And you've got to remind people that's because they stuck with refining when everyone else gave up.

So they deserve to be rewarded for the fact that people kept driving cars and flying planes but cut shot all the refineries and um you know good luck to Valera. They're in a great place at the moment.

You know, it's the the problem for those guys. They're going to make too much money and then it becomes the threat that, you know, somebody in Washington somehow gets their hands on the cash pile or bans exports or something stupid happens.

But for now, you know, the profits of these companies going to be absolutely enormous. And you've got to remind people that's because they stuck with refining when everyone else gave up.

So they deserve to be rewarded for the fact that people kept driving cars and flying planes but cut shot all the refineries and um you know good luck to Valera. They're in a great place at the moment.