Red Cavaney
Red Cavaney
Red Cavaney is an American businessman and lobbyist. He is a former CEO of the American Petroleum Institute, of Ericson Yachts, and he served in the administrations of Richard Nixon and Gerald Ford...
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In fact, there are news reports today that the Congressional Research Service has attributed the gasoline price situation in the Midwest to supply disruption problems and the use of reformulated gasoline with ethanol,
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The claims that anticompetitive behavior has contributed to recent gasoline price increases, nationally and in the Midwest, are without any factual basis.
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The impact of this devastating storm on oil and natural gas operations will be significant and protracted, ... Let us understand: This is not an easy thing.
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The increased prices that people are having to pay is attributable to the increased costs of the price of crude oil and the 5 to 6 cents (a gallon) that we said is going to be the cost to refiners to go ahead and blend this new blend.
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A long time ago, people used to brag about reserves. It's all about reserves.
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The market is working. The prices are falling.