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So, I've been thinking about putting some money in Valero (VLO). Here is my reasoning:
-Despite all of the American outcries for increased drilling, the current oil crisis isn't caused by a lack of crude oil, its caused by a lack of refining capacity.
-That means that all current refineries are selling EVERYTHING they produce.
-It also means there are going to be cheaper oil supplies if drilling does open up.
-Further, if drilling doesn't open, cost of oil will rise from refineries due to increased demand.
-Alternative energy sources are awesome, but I'm betting on the general tendency of people to be ignorant and resist change at all costs.
-P/E Ratio of 5.80
Now, why valero? Simple - Valero owns the majority of refineries, at least in the US. That means that they'll be in business for a good long time. Would any of you stock experts want to weigh in? I'd like to see some counterpoints. Thanks!
You can turn your back on a person, but never turn your back on a drug, especially when its waving a razor sharp hunting knife in your eye. Hunter S. Thompson
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