[Non-Sequitur]

“Valero Energy Corp. is taking another step toward expanding its Norco refinery by seeking approval of $1 billion in Gulf Opportunity Zone bonds from the St. Charles Parish Council.

If Valero could post $5.5 billion in profits for 2006, and they had the money to announce a $6 billion stock repurchase plan in April, then why do they need a federal subsidy to expand their core business?

[hinckley buzzard]

why do they need a federal subsidy to expand their core business?

If cheap money is available for investment the corporate officers would be stupid, irrational and misfeasant not to use it.

If my tax dollars are used to promote expansion of the energy supply by the private sector then I say That's a better use for them than most of what they get spent on.

[texas booster]

The bonds still have to be paid back but they cost less.

They were created by government to mitigate the risk in building a new plant in St Charles Parish, and to give incentives to locate in St Charles instead of elsewhere.

Some folks still understand the concept of job creation.

I also think that this is a way to bring in new business without providing a 10 year pass on local and state taxes.