Big US refiner Valero makes surprise leap into ethanol

摘要

New York-Valero Energy’s unexpected decision to enter the ethanol business is not only a good deal for North America’s largest refiner, but also could launch the ethanol industry back into the spotlight, albeit at depressed values, analysts said February 6. In addition, Valero’s move runs counter to the US refining industry’s stand against many aspects of the biofuel and could signal a reversal. So far, refiners have been lukewarm on an industry that chips away at already weak gasoline demand through federally mandated blending requirements.