Peter Beutel
Peter Beutel
attention close dying later living market paying people point report revisit rita turn twist until weather
People are not paying very close attention to it, ... At this point this market is just living and dying with every twist and turn of weather report -- we'll probably revisit it later but it's not important until we get Rita out of our systems.
dropping prices
I think that's going to keep (gasoline and oil) prices from dropping dramatically.
best commentary electricity line release releasing sad
Release of the SPR isn't going to get the refineries back on line or get the electricity running. Releasing the SPR is the best we can do, which is a sad commentary on our preparedness for this kind of disaster.
again anytime appear bubble burst corner declines five levels maybe next point price prices slow turned
Price declines could be slow this week, maybe with a bubble burst at some point in the future. It does appear we've turned the corner here in this market. I don't think we'll see prices at these levels again anytime in the next five years.
double extent full gas last level national pass prices
If we pass on the full extent of national gas prices they could be double their level last winter.
limit lose oil three weeks
If we lose one refinery for two or three weeks the sky's the limit (for oil prices).
cents labor prices
By Labor Day weekend, prices will be up 20 cents to 50 cents a gallon,
capacity demand fuel gasoline jet last less night oil production reports sign spare strong switch time year
At this time of year we have seasonal maintenance on refineries as they switch over from heating oil production to gasoline production. Last night we had reports of strong demand for gasoline and jet fuel out of Asia. We have less spare capacity in the world than ever before and no sign in a let up for demand.
above feeling kerry might oil petroleum reserves sold stop strategic tried
The feeling was that Kerry might have tried to stop the restocking of the strategic petroleum reserve, and might have sold off reserves if oil got above $50.
barrels million production raise
They would have to raise production by more than a million barrels a day to get it down to $25,
potential seen tremendous
There's tremendous potential for spikes we've never seen before.
area exactly follows knocks production rita
If Rita follows through on its course, all rigs in the area will be evacuated and production will be affected, which is exactly what we don't need, and if Rita knocks out any more refineries, we're in real trouble,
anyone approach logic
I don't see how anyone could approach it with any kind of rationality or logic left.
demand fall moves seat supply
If demand is not going to fall and keep on falling, then supply moves back into the driver's seat in this market.