"Congress likely to cut US ethanol aid, not end it" (ADM; AVRW; PEIX; VLO)

Yes Valero. As of last spring they were the third largest ethanol producer in the country.
And then there's that $80 Billion/year oil refinery operation.
From Reuters:

* Ethanol tax credit could fall to 36 cents a gallon
* Baucus package may be early look at biofuels future
* Ethanol believed in the mix in tax bill discussions
* Industry seeks longer-term ethanol policy

By Charles Abbott
WASHINGTON, Dec 6 (Reuters) - Congress is likely to extend the major U.S. ethanol incentive, rather than let it expire at the end of the month, but it will cut the tax credit by 20 percent or so, an analyst and an industry spokesman said on Monday.

Mark McMinimy of Washington Research Group said the most likely outcome was for a one-year extension of the tax credit at 36 cents a gallon, down from the current 45 cents.
The Renewable Fuels Association, a trade group, said it believed ethanol was part of ongoing discussions for an omnibus tax bill dominated by estate and income tax rates. A business lobbyist also said ethanol was believed part of the talks....MORE

Here are a few of our Valero posts:

August 21, 2010 
"Ethanol On The Rise: New Life For Refiners?" (ADM; GPRE; PEIX; VLO)
May 10, 2010 
"Valero Invests in Algenol: What’s Going On?" (VLO)

March 9, 2010 
"Ethanol Making Comeback as Valero Sees Profit Where Gates Lost" (ADM; PEIX; VLO)