Refiners should be careful what they wish for…

Valero CEO Bill Klesse says he’s expecting the climate change bill to be a no-go in the Senate.

“We are not altering our business model based on this legislation because we think the legislation is so poor for all the constituents, the consumers, everybody,” Klesse, 63, said in an interview at the company’s headquarters in San Antonio.

Some in Washington think the bill will still move forward in the Senate, despite the obstacles, namely the priority given to the healthcare bill. There’s even word it could add incentives for more nuclear power, which could win over a few more Senate votes.
But if it doesn’t pass, U.S. officials won’t exactly be empty-handed going to the Copenhagen climate talks in December. The EPA is plowing ahead on its plans to regulate CO2.
Do they really want Lisa Jackson telling them how much they can emit or a market that, at times, will give you CO2 prices like this?