It's late in the game. The only policy changes that would have an immediate effect would be demand restraints, such as increases in gasoline taxes, alternate driving days or enforcement of speed limits.
More Quotes from Antoine Halff:
Refinery activity has been very depressed because of damage caused by hurricanes last year and deferred maintenance. There was a huge surge in imports after last year's storms but that has ended. At the same time refinery activity has not recovered.Antoine Halff
It's new in the sense that this is the boldest attempt to strike at the heart of a Saudi oil-production complex. So far they had been confined to office buildings and housing units.
Antoine Halff
If we have colder-than-normal weather, we'll see a bit of a shock to the economy, ... I plan to put a sweater on at home.
Antoine Halff
There is tremendous political risk to supplies, including from OPEC producers, such as Iran or Venezuela, who have trouble meeting their production quotas, or even Nigeria. They can't address these concerns openly, but I am sure they are on everybody's mind.
Antoine Halff
Geopolitical factors have been the major factor pushing us higher and they will get worse before they get better.
Antoine Halff
Heightened geopolitical risk profoundly changes the meaning of fundamentals.
Antoine Halff
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