We're going to see huge price increases, particularly for Midwestern home owners this winter and if it's a cold winter they will be really hurting. They are already looking at price increases of 40 to 80 percent.
More Quotes from Peter Beutel:
It doesn't make a lot of sense to me. With what's been going on the past few days, it's hard to see a solid reason why prices should be higher today. It's disturbing.Peter Beutel
With another storm threatening the half the Gulf that avoided Katrina, it has traders spooked this morning,
Peter Beutel
Everyone is worried it's going to be a very consumption-oriented fall and winter, and that's what's pushing prices higher.
Peter Beutel
there is something wrong with the market.
Peter Beutel
Prices seem to be in a trading range between 57 and 64. They are having difficulty moving beyond either of those borders.
Peter Beutel
It's going to take a long time before we know exactly how to look at this, what effect Katrina is having long-term. I would like to say for now at least the worst is behind us. What tomorrow brings, particularly on the weather front, remains to be seen. We're still in a tight situation.
Peter Beutel
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