Exhibit 12.01

NUSTAR ENERGY L.P.

STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Thousands of Dollars, Except Ratio)

		Three Months Ended March 31,				Years Ended December 31,
		2009				2008				2007				2006				2005				2004
Earnings:
Income from continuing operations before provision for income taxes and income from equity investees		$	43,568			$	256,994			$	154,913			$	149,885			$	110,069			$	77,074
Add:
Fixed charges			25,994				113,959				91,594				75,829				46,211				21,625
Amortization of capitalized Interest			133				440				255				126				80				60
Distributions from joint ventures			1,500				2,835				544				5,268				4,657				1,373
Less: Interest capitalized			(481	)			(5,108	)			(5,995	)			(1,758	)			(1,008	)			(192	)
Total earnings		$	70,714			$	369,120			$	241,311			$	229,350			$	160,009			$	99,940
Fixed charges:
Interest expense (1)		$	20,314			$	92,971			$	77,584			$	68,241			$	41,616			$	20,630
Amortization of debt issuance costs			224				815				1,030				726				622				407
Interest capitalized			481				5,108				5,995				1,758				1,008				192
Rental expense interest factor (2)			4,975				15,065				6,985				5,104				2,965				396
Total fixed charges		$	25,994			$	113,959			$	91,594			$	75,829			$	46,211			$	21,625
Ratio of earnings to fixed charges			2.7x				3.2x				2.6x				3.0x				3.5x				4.6x

(1) The “Interest expense, net” reported in NuStar Energy L.P.’s consolidated statement of income for the three months ended March 31, 2009 includes investment income of $68,000.

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