We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Valero Energy (VLO) Becomes Part of RFA: What to Expect?
Read MoreHide Full Article
Per Bloomberg, leading independent refiner Valero Energy Corporation (VLO - Free Report) has joined the leading trade association for ethanol industry of U.S. – Renewable Fuels Association (RFA). This indicates that the previously unwilling fuel producers are now agreeing to blend ethanol with gasoline to take advantage of the rapidly growing biofuels market.
The U.S. Environmental Protection Agency (EPA) has come up with a new requirement specifying the increased amount of renewable fuel that should be added by refiners to their gasoline supply. For 2017, EPA increased the level to 19.28 billion gallons of renewable fuel from the prior 2016 mark of 18.11 billion gallons.
Most importantly, the newly proposed mark for 2017 is higher than EPA’s earlier figure of 18.8 billion gallons and the 18.1 billion gallon target for 2016. The blending of more renewable fuel with gasoline will mostly be done by mixing corn-based ethanol.
Interestingly, Valero had previously opposed the Renewable Fuel Standard that mandates refining players to blend ethanol and gasoline to lower emission.
Why the Need to Lower Emission
Per the Energy Information Administration (EIA), motor gasoline and diesel consumed for transportation in the U.S. during 2015 emitted a total of 1,545 million metric tons of carbon dioxide (CO2). This accounted for almost 83% of the U.S. transportation industry’s total CO2 discharge. This is where the urgent need for reducing pollution and saving the environment comes into play.
San Antonio, TX-based Valero Energy is the largest independent refiner and marketer of petroleum products in the U.S. With 15 refineries located across the U.S., Canada and the Caribbean, the company has a refining capacity of 3.0 million barrels per day. Over the last one month, the company gained almost 8% compared with the Zacks-categorized oil refining and marketing market’s 7% gain.
Valero Energy also surpassed other refiners like Marathon Petroleum Corp. (MPC - Free Report) , Phillips 66 (PSX - Free Report) and Tesoro Corp. that gained 5.5%, 1.5% and -3.3%, respectively.
How would you like to see our best recommendations to help you find today’s most promising long-term stocks? Starting now, you can look inside our portfolios featuring stocks under $10, income stocks, value investments and more. These picks, which have double and triple-digit profit potential, are rarely available to the public. But you can see them now. Click here >>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Valero Energy (VLO) Becomes Part of RFA: What to Expect?
Per Bloomberg, leading independent refiner Valero Energy Corporation (VLO - Free Report) has joined the leading trade association for ethanol industry of U.S. – Renewable Fuels Association (RFA). This indicates that the previously unwilling fuel producers are now agreeing to blend ethanol with gasoline to take advantage of the rapidly growing biofuels market.
The U.S. Environmental Protection Agency (EPA) has come up with a new requirement specifying the increased amount of renewable fuel that should be added by refiners to their gasoline supply. For 2017, EPA increased the level to 19.28 billion gallons of renewable fuel from the prior 2016 mark of 18.11 billion gallons.
Most importantly, the newly proposed mark for 2017 is higher than EPA’s earlier figure of 18.8 billion gallons and the 18.1 billion gallon target for 2016. The blending of more renewable fuel with gasoline will mostly be done by mixing corn-based ethanol.
Interestingly, Valero had previously opposed the Renewable Fuel Standard that mandates refining players to blend ethanol and gasoline to lower emission.
Why the Need to Lower Emission
Per the Energy Information Administration (EIA), motor gasoline and diesel consumed for transportation in the U.S. during 2015 emitted a total of 1,545 million metric tons of carbon dioxide (CO2). This accounted for almost 83% of the U.S. transportation industry’s total CO2 discharge. This is where the urgent need for reducing pollution and saving the environment comes into play.
San Antonio, TX-based Valero Energy is the largest independent refiner and marketer of petroleum products in the U.S. With 15 refineries located across the U.S., Canada and the Caribbean, the company has a refining capacity of 3.0 million barrels per day. Over the last one month, the company gained almost 8% compared with the Zacks-categorized oil refining and marketing market’s 7% gain.
Valero Energy also surpassed other refiners like Marathon Petroleum Corp. (MPC - Free Report) , Phillips 66 (PSX - Free Report) and Tesoro Corp. that gained 5.5%, 1.5% and -3.3%, respectively.
These are reflected in the company’s Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
VALERO ENERGY Price
VALERO ENERGY Price | VALERO ENERGY Quote
Zacks' Top Investment Ideas for Long-Term Profit
How would you like to see our best recommendations to help you find today’s most promising long-term stocks? Starting now, you can look inside our portfolios featuring stocks under $10, income stocks, value investments and more. These picks, which have double and triple-digit profit potential, are rarely available to the public. But you can see them now. Click here >>