It's not going to be of much help unless we get refineries running again. Releasing oil from the SPR right now would be actually inappropriate because there would be no place to put it.
More Quotes from Adam Sieminski:
This is going to translate into 3 gasoline for everyone and prices may go higher. The chances of another storm hitting the region are pretty high and we just aren't prepared for it. Refineries are already having great difficulty getting back up and running.Adam Sieminski
We should have an overall higher level of distillate product -- This should give the industry a breather.
Adam Sieminski
Maybe what we need is surreptitious federal regulation that forces gasoline prices up for good reasons that politicians can explain.
Adam Sieminski
The economic stimulus from rebuilding will help offset the economic drag caused by higher energy prices.
Adam Sieminski
One-third of the production in OPEC is deteriorating and doesn't have very good prospects of improving in the short run.
Adam Sieminski
The biggest impact may be damage to the port facilities south of New Orleans. We have no way of knowing now how badly they are damaged.
Adam Sieminski
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