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Ethanol bails out Valero

This article was originally published in The Public Ledger

ETHANOL has been a bright spot in an otherwise dismal fourth quarter and full year for Valero Energy. Valero lost $155m and $55m over the two periods, primarily due to a $226m loss on its petroleum refining operations. But Valero's ethanol segment showed an operating profit of $94m for the fourth quarter and $165m for 2009 since it bought nine plants from bankrupt VeraSun Energy.


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