John Felmy
John Felmy
agree consumers due economic either energy higher people rates reduce savings seen
I think most people would agree that two-thirds of the economic slowdown we've seen is due to higher energy prices, ... And with higher energy prices, consumers will either have to reduce savings rates ... or reduce consumption.
conspiracy cost crude gasoline high prices reasons sort
The reasons for high gasoline prices are very clear: the high cost of crude and the high cost of manufacturing gasoline. The idea that this is some sort of conspiracy is very unfortunate.
high knows petroleum prices products volatile
Everyone knows how high prices have been and how volatile they are for petroleum products this year,
brief compromise decision higher individual possible production push safety
It may be possible to push production higher for very brief periods, but the decision to do so must be made by individual companies, which will not compromise the safety of workers.
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.
markets reverse
Right now, the short-term markets are going a little crazy. If there is little damage, they can reverse themselves.
creates fill room run storage supply
Eventually, if you don't fill up, we run out of storage room and that creates a supply backlog,
industry investing vast
We are an industry already doing a lot. ... We're already investing vast amounts.
problem
There's no windfall. That's the fundamental problem with that argument.
earth throw
That would be the stupidest thing on Earth we could do. It would throw us back into the 1970s.
reports steps terms
What you have is an important set of steps in terms of these are high-temperature, high-pressure facilities. And that's if you have not had any damage, and we know from preliminary reports that's not the case.
nobody villain wants
nobody wants to be the villain in the story.
good
We've had some good signs, we'll just keep working at it.
buck good run running
Those that can run it were running it and making a pretty good buck off it.