Buy Cheaper Domestic Crude, Sell Gasoline At Same High Price

Valero Energy's fourth-quarter profit soared on higher refining margins, as it swapped out foreign crude for cheaper domestic oil. Net income was $1.01 billion, or $1.82 per share; compared with $45 million, or 8 cents per share, a year earlier. Valero's income grew on higher refining margins because it replaced imported light crude oil with cheaper domestic crude at its Gulf Coast and Memphis refineries.  It was the company's highest fourth-quarter earnings per share since 2005.

On the backs of the driving public.

TREASON via unrestrained Capitalism?

Oil marching back up to $100 a barrel, shoveling more money into the hands of the Oil Industry. Not just capital but ungodly PROFITS year after year! Government doing nothing to help us "captive buyers" migrate to cheaper sources. I wonder if sometime in the future, historians will recognize the treasonous behavior of American oil interests in keeping the nation in the financial hole.