Quote:
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Originally Posted by Valiant
"As recently as August, investors were selling oil refiners on concern an economic slowdown would slash fuel demand in the U.S., the world's largest energy market. During seven weeks last August and September, Valero shares fell 29 percent, wiping out $12 billion in market value."
But we cut production to start to drive the demand back up so we did not lose any money... And we are going to tell you now that their is more demand for it, even though every day more and more people are buying more fuel efficient vehicles...
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BTW, VLO recovered all of that market cap.