Exhibit 12.01
NUSTAR ENERGY L.P.
STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Thousands of Dollars, Except Ratio)

| Nine Months |  |
| Ended |  |  |  |  |  |  |  |  |  |
| September 30, |  | Years Ended December 31,
| 2012 |  | 2011 |  | 2010 |  | 2009 |  | 2008 |  | 2007
Earnings: |  |  |  |  |  |  |  |  |  |  |
(Loss) income from continuing operations before provision for income taxes and income from equity investees | $ | (199,676 | ) |  | $ | 227,022 |  |  | $ | 240,211 |  |  | $ | 225,791 |  |  | $ | 256,994 |  |  | $ | 154,913 |
Add: |  |  |  |  |  |  |  |  |  |  |
Fixed charges | 98,157 |  |  | 113,220 |  |  | 103,390 |  |  | 102,781 |  |  | 113,959 |  |  | 91,594 |
Amortization of capitalized interest | 752 |  |  | 793 |  |  | 642 |  |  | 553 |  |  | 440 |  |  | 255 |
Distributions from joint ventures | 6,364 |  |  | 14,374 |  |  | 9,625 |  |  | 9,700 |  |  | 2,835 |  |  | 544 |
Less: Interest capitalized | (6,545 | ) |  | (5,388 | ) |  | (3,701 | ) |  | (1,650 | ) |  | (5,108 | ) |  | (5,995 | )
Total earnings | $ | (100,948 | ) |  | $ | 350,021 |  |  | $ | 350,167 |  |  | $ | 337,175 |  |  | $ | 369,120 |  |  | $ | 241,311 |
Fixed charges: |  |  |  |  |  |  |  |  |  |  |
Interest expense (a) | $ | 70,035 |  |  | $ | 82,758 |  |  | $ | 77,343 |  |  | $ | 78,622 |  |  | $ | 92,971 |  |  | $ | 77,584 |
Amortization of debt issuance costs | 1,709 |  |  | 1,738 |  |  | 1,118 |  |  | 910 |  |  | 815 |  |  | 1,030 |
Interest capitalized | 6,545 |  |  | 5,388 |  |  | 3,701 |  |  | 1,650 |  |  | 5,108 |  |  | 5,995 |
Rental expense interest factor (b) | 19,868 |  |  | 23,336 |  |  | 21,228 |  |  | 21,599 |  |  | 15,065 |  |  | 6,985 |
Total fixed charges | $ | 98,157 |  |  | $ | 113,220 |  |  | $ | 103,390 |  |  | $ | 102,781 |  |  | $ | 113,959 |  |  | $ | 91,594 |
Ratio of earnings to fixed charges | (c) |  |  | 3.1x |  |  | 3.4x |  |  | 3.3x |  |  | 3.2x |  |  | 2.6x |

(a) | The “Interest expense, net” reported in NuStar Energy L.P.'s consolidated statement of income for the nine months ended September 30, 2012 includes investment income of $0.7 million.

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

(c) | For the nine months ended September 30, 2012, earnings were insufficient to cover fixed charges by $199.1 million. The deficiency included the effect of $271.8 million of impairment losses mainly resulting from the write-down of the carrying value of our long-lived assets related to our asphalt operations, including fixed assets, goodwill, intangible assets and other long-term assets.