Exhibit 12.01

VALERO ENERGY CORPORATION AND SUBSIDIARIES
STATEMENTS OF COMPUTATIONS OF RATIOS OF EARNINGS TO FIXED
CHARGES AND RATIOS OF EARNINGS TO FIXED CHARGES AND PREFERRED
STOCK DIVIDENDS
(Millions of Dollars)

	Year Ended December 31,
	2008			2007			2006			2005			2004
Ratio of Earnings to Fixed Charges:
Earnings:
Income from continuing operations before income tax expense, minority interest in net income of consolidated subsidiaries, and income from equity investees	$	320		$	6,743		$	7,872		$	5,013		$	2,726
Add:
Fixed charges		643			658			566			474			410
Amortization of capitalized interest		18			15			9			8			7
Distributions from equity investees		—			—			47			50			42
Less:
Interest capitalized		(111	)		(107	)		(165	)		(66	)		(37	)
Total earnings	$	870		$	7,309		$	8,329		$	5,479		$	3,148
Fixed charges:
Interest expense, net	$	340		$	359		$	212		$	268		$	260
Interest capitalized		111			107			165			66			37
Rental expense interest factor (1)		192			192			189			140			113
Total fixed charges	$	643		$	658		$	566		$	474		$	410
Ratio of earnings to fixed charges		1.4	x		11.1	x		14.7	x		11.6	x		7.7	x
Ratio of Earnings to Fixed Charges and Preferred Stock Dividends:
Total earnings	$	870		$	7,309		$	8,329		$	5,479		$	3,148
Total fixed charges	$	643		$	658		$	566		$	474		$	410
Preferred stock dividends		—			—			3			20			19
Total fixed charges and preferred stock dividends	$	643		$	658		$	569		$	494		$	429
Ratio of earnings to fixed charges and preferred stock dividends		1.4	x		11.1	x		14.6	x		11.1	x		7.3	x

(1) The interest portion of rental expense represents one-third of rents, which is deemed representative of the interest portion of rental expense.