The reason is that even without sanctions on Russia, the explosive growth of the burgeoning shale oil industry and new crude oil production from the Gulf of Mexico gives Valero access to relatively inexpensive crude stocks as West Texas crude ( WTI ) is expected to fall in price over the next year. New pipelines are delivering cheap U.S. shale oil to Valero's Gulf Coast refineries. Valero also has a very strong balance sheet with cash expected to exceed $5 billion by 2015.