John Felmy
John Felmy
since uncharted
We're in uncharted territory. We haven't experienced something like this since the 1980's.
costs finding profits requests
When you take all those costs out you're not finding unreasonable profits for everything we have to do to get (gasoline) to consumers. These requests are just unfortunate.
calling consumers jigsaw prudent putting puzzle
We're still calling on consumers to be prudent in their use of gasoline. It's just a complicated jigsaw puzzle we're putting back together.
amount business certainly consumers cost dollars drag exchange foreign high increasing money oil pockets prices spent taking
High oil prices are certainly a drag on the economy, ... Oil is taking money out of the pockets of consumers that could be spent elsewhere, increasing the cost of doing business and the amount of foreign exchange dollars that need be funneled overseas.
corn ethanol example fuel increase
If you were to, for example, increase your ethanol usage to 20% of the fuel supply, you'd use 100% of the corn crop.
costs provide
If you don't provide the relief, nothing will happen. The start-up costs are just too massive.
crude gas gone oil prices
Gas prices have gone up, but so have crude oil prices.
above consumer england fuel primary producing record seen shoot storage
We've been producing record amounts of distillate fuel but what we've seen in ... New England, which is a primary consumer of heating oil, we've seen our inventories of primary storage shoot up to something like 50% above average.
cents clear crude gallon gasoline oil prices speak stations
We can't speak for each of the 170,000 gasoline stations nationwide, ... But it's clear that gasoline prices are up 29 cents a gallon because crude oil prices are up about 29 cents a gallon during the same period.
consumers key question
The real question is, What will consumers do? That's a key part of the equation.
bad energy marketing policy price slippery slope start starts suffered ultimately
When you start intervening in a market, it starts you down a slippery slope of price controls, marketing manipulation and -- ultimately -- the bad energy policy that we suffered through in the 1970s.
processes series takes
What you've got are a whole series of requirements and processes and that takes days, if not weeks.
companies market sets
Our companies don't set the price. The market sets the price.
congress free imposing industry mistakes past repeat structures taxes worst
It is important to do no harm. The worst thing Congress could do now would be to repeat the mistakes of the past by overriding the structures of the free marketplace (by) imposing new controls, allocation schemes, new taxes on industry or other obstacles.