[sammyg2]

Originally Posted by jyl

Point us to some evidence of this?

October 19, 2012, 6:42 PM.
Valero Shopping Its Two California Refineries.
By Ben Lefebvre, Ryan Dezember and Tom Fowler

Valero Energy Corp. is putting its two California refineries on the
block, attempting to exit the state ahead of a ratcheting up of air-pollution
regulations, people familiar with the matter said.

San Antonio-based Valero has enlisted Citigroup Inc. to help find a buyer
for the facilities, these people said, adding that the process is in the early
stages.

Valero, one of the largest refiners in the U.S., operates a
78,000-barrel-a-day refinery in Wilmington outside Los Angeles and a
132,000-barrel-a-day refinery in Benicia, in the San Francisco Bay area.
Together the plants represent about 10% of the company’s U.S. refining capacity.

A Valero spokesman declined to comment. A Citi spokesman also declined to comment.

Valero Shopping Its Two California Refineries - Deal Journal - WSJ