The Iranian situation appears to be getting worse.
More Quotes from Jason Schenker:
There is no strategic government reserve of natural gas or refined products, and right now the biggest concerns in the marketplace are for products.Jason Schenker
I totally expect to see 50 a barrel, at least in a spike to that level, at some point in the near future. We've been in an upward trend for several years, and I really don't see any indication of a reversal of that trend. 50 a barrel is a completely rational expectation.
Jason Schenker
On a national average, we could hit 3.25 at the pump easily, potentially even by this weekend, ... This is going to cut into consumer demand.
Jason Schenker
Geopolitical power is moving from energy consuming countries to the producers. We may see more of these supply shocks in the years ahead.
Jason Schenker
The government's offer of barrels from the Strategic Petroleum Reserve has mitigated some of the upward price pressure on crude oil. The problems with gasoline and natural gas may not be helped even if the SPR is tapped. If refineries are offline and can't run the extra oil, it will make no difference.
Jason Schenker
Potentially, Katrina could signal the death knell of the SUV in as much as consumers are going to find themselves once burned, twice shy to buy such vehicles,
Jason Schenker
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