GFM Network News

U. S. Oil Refiner Buys Into Ethanol

Oil refiner Valero Energy beat out Archer Daniels Midland in buying bankrupt VeraSun Energy Corp.’s ethanol plants because ADM was only interested in buying the entire company, a lawyer for VeraSun said March 18. VeraSun announced March 17 that Valero, the largest U. S. oil refiner, had won an auction to buy seven of its