The rise in prices has been driven by concern about future supply, not the present situation.
More Quotes from Mark Routt:
Refiners have been producing gasoline flat out since the storms. Gasoline was needed, money was to be made and there was political pressure. The last thing they wanted was to be hauled into a congressional hearing and hear about a windfall profits tax.Mark Routt
Once the refineries start making the product you have to transport it. We have to watch the pipelines to the Midwest and the Northeast. The Northeast is less of an issue because we can get cargoes from Europe. Florida has a big problem because 60 to 70 percent of their gasoline is barged across the Gulf.
Mark Routt
You won't see the extended flooding flooding that you did in Louisiana, ... You have larger refining capacity but out for a shorter period of time.
Mark Routt
Those are easily bought and sold, so it's not difficult to finance that part of the acquisition.
Mark Routt
We're climbing from here. I think in some places we could see almost 3.50.
Mark Routt
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