> I was reading this article:

> "Valero recently reported its first quarter 2009 results. The company
> announced that its net income was 59 cents per share, compared to 48
> cents per share in the first quarter of 2008. “We reported positive
> earnings despite weaker demand,” said Bill Klesse, Valero’s Chairman
> of the Board and Chief Executive Officer. “In fact, our first quarter
> 2009 earnings per share were 23% higher than the first quarter of
> 2008, and 64% higher if you exclude last year’s insurance recovery. In
> all our regions, gasoline margins were unseasonably strong and nearly
> double the level in the same quarter last year. Diesel and jet fuel
> margins were also good in the first quarter despite being down from
> last year’s high levels."

> ...... and wondering why there isn't better price action in VLO. The
> rise in Oil prices perhaps??? Going into the summer season with the
> economy starting to recover and hurricanes coming I can't imagine this
> stock goes much lower.