Peter Beutel
Peter Beutel
afternoon anyone exactly friday goes gulf katrina likelihood looks market people point short talking
At this point it looks like $70 is squarely in the market's sights, and people are talking about it as a done deal, ... The likelihood is that if Katrina goes into the Gulf and we don't know exactly where it will make landfall, anyone short in this market Friday afternoon will panic.
consumers defies hard laws point start
It doesn't make a whole lot of sense to me. It's hard to tell at what point consumers will start to balk. It defies the laws of economics.
excuse hold meaningful meetings point reason shopping
They have at this point ceased to be a meaningful cartel at these prices. The only reason they hold these OPEC meetings is have an excuse to get out of their own countries, go to Vienna and go on a shopping spree.
excuse hold meaningful meetings point reason shopping
They have at this point ceased to be a meaningful cartel at these prices, ... The only reason they hold these OPEC meetings is have an excuse to get out of their own countries, go to Vienna and go on a shopping spree.
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.
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.
gasoline lines looking maybe worst
We could be looking at gasoline lines and $4 gas, maybe even $5 gas, if this thing does the worst it could do,
fact further gear ignored kicked proof
The very fact that it was ignored is further proof that we are now in a bearish market. We feel that we may have kicked into a new gear on the downside.
ask increase traders
There's some apprehension about the report. If we don't see an increase in distillate inventories, traders are going to ask when we will before winter.
ask increase traders
There's some apprehension about the report, ... If we don't see an increase in distillate inventories, traders are going to ask when we will before winter.
acting fact fallen prices seem telling
Prices to me seem to be sick. I don't know if it's something to do with the economy. The fact that they're acting so sick, that they've fallen down and they can't get up is telling me that it may be something structural.
beyond difficulty either moving prices range seem trading
Prices seem to be in a trading range between $57 and $64. They are having difficulty moving beyond either of those borders.
energy major prices recession time triple
Every time energy prices triple we have a major recession in 1½ to 2 years.
meet position spare unit vital
We're already in the position where every refinery unit is vital just to meet demand. We don't have any spare capacity. That's what it makes it so critical.