Exhibit 12.01

NUSTAR ENERGY L.P.

STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Thousands of Dollars, Except Ratio)

				Year Ended December 31,
				2008						2007						2006						2005						2004
Earnings:
Income from continuing operations before provision for income taxes and income from equity investees				$	256,994					$	154,913					$	149,885					$	110,069					$	77,074
Add:
Fixed charges					113,959						91,594						75,829						46,211						21,625
Amortization of capitalized Interest					440						255						126						80						60
Distributions from joint ventures					2,835						544						5,268						4,657						1,373
Less: Interest capitalized					(5,108	)					(5,995	)					(1,758	)					(1,008	)					(192	)
Total earnings				$	369,120					$	241,311					$	229,350					$	160,009					$	99,940
Fixed charges:
Interest expense (1)				$	92,971					$	77,584					$	68,241					$	41,616					$	20,630
Amortization of debt issuance costs					815						1,030						726						622						407
Interest capitalized					5,108						5,995						1,758						1,008						192
Rental expense interest factor (2)					15,065						6,985						5,104						2,965						396
Total fixed charges				$	113,959					$	91,594					$	75,829					$	46,211					$	21,625
Ratio of earnings to fixed charges					3.2x						2.6x						3.0x						3.5x						4.6x

(1) The “Interest expense, net” reported in NuStar Energy L.P.’s consolidated statements of income for the years ended December 31, 2008, 2007 and 2006 includes investment income of $2,968,000, $2,098,000 and $2,701,000, respectively.

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