EXHIBIT 23.1

            CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

We consent to the reference to our firm under the caption "Experts" in the
Registration Statement on Form S-3 and related Prospectus of Valero Energy
Corporation, VEC Trust III and VEC Trust IV for the registration of $3.5 billion
of their securities and to the incorporation by reference therein of our report
dated March 11, 2004, with respect to the consolidated financial statements of
Valero Energy Corporation included in its Annual Report (Form 10-K) for the year
ended December 31, 2003, filed with the Securities and Exchange Commission.

/s/ Ernst & Young LLP

San Antonio, Texas
June 18, 2004