People are not paying very close attention to it, ... At this point this market is just living and dying with every twist and turn of weather report -- we'll probably revisit it later but it's not important until we get Rita out of our systems.
More Quotes from Peter Beutel:
This is all about Tropical Storm Rita ... obviously, the last thing that this market needs is for a hurricane to hit the western gulf where it didn't hit last time.Peter Beutel
Price declines could be slow this week, maybe with a bubble burst at some point in the future. It does appear we've turned the corner here in this market. I don't think we'll see prices at these levels again anytime in the next five years.
Peter Beutel
It does appear we've turned the corner here in this market. They're reacting to the fact that there was less damage than expected, rather than the amount of damage that did occur. Yes, it's going to take time to repair these refineries, and yes there will be at least one day we'll see prices run up. But I think we've probably seen the highest gasoline prices behind us.
Peter Beutel
It's less than 30,000 barrels a day in a country that consumes 21 million. That's not even rearranging a single deck chair on the Titanic. But psychologically, it has some effect.
Peter Beutel
It is a country interested in growing rapidly, and one of the big bottlenecks in its growth has been energy. If it was suddenly trying to buy 1.5 million barrels today, it'd sop up most of the surplus right now.
Peter Beutel
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My forehead is sometimes too high, but bangs could correct this.
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