Doug MacIntyre Quotes (13 Quotes)

Our imports of gasoline averaged close to 1.0 million barrels per day in the last four weeks, which is very high for February.

We don't see prices going as low as 2.50 any time this summer. They could bottom out much higher than that.

Being close to a refinery is more helpful than not being close to one. But other factors would include how much competition is in that area and also the demographics.

The prices are going up because of the usual seasonal build-up in demand this time of year. The reason we still have prices going up when inventories are seemingly abundant is that there's a lot of uncertainty about gasoline supplies in the future.

It's difficult for me to envision (the OPEC offer) having too much of an impact. Crude inventories here in the U.S. are looking pretty good.

There's still crude out there that can make up for any loss in production.

There may be certain parts of the country that see that, but for the U. S. average I don't think we have anything nearly that low.

Normally we'd expect to see a decline of about 400,000 barrels a day from August to September just for seasonal reasons, as people stop taking vacations.

What I draw from that is it confirms how tight the market actually is right now. To us, the big picture is we are in a situation globally and here in the U.S. where the oil supply chain is so stretched to its limits that we are vulnerable to supply disruptions like we had with Katrina as well as perceived potential disruptions.

The good news is, we've seen wholesale prices of gasoline go down in recent days.

Demand growth has become so strong that these higher supply levels don't represent the same daily demand coverage they used to. SUVs are making up a bigger percentage of the fleet and the average American tends to drive more miles.

Just as we were saying high prices were lessening the demand growth we would normally see, but not as much as some people would think, the lower prices are having some impact on making demand higher.

We've got a lot more down now than normally would be. If gas markets are already tight to begin with and you lose 5 percent of the supply, prices are going to increase.