They simply have less money in their pocket.
More Quotes from Tom Knight:
The initial wave of selling (in oil futures) came when the computer models showed Rita veering further to the east, which would make landfall nearer Port Arthur than Houston,Tom Knight
We expect them to have good vision and make the extra pass. That's something that we preach daily.
Tom Knight
Refining problems are behind the higher prices today, which have pushed Gulf Coast cash prices extremely high
Tom Knight
There is little news to perk up the market.
Tom Knight
That's the nice thing about young kids. They're not self-conscious about dancing around. It's a lot of fun, especially when the parents get involved.
Tom Knight
With pipelines coming back on line and increased imports arriving from foreign sources, there appears to be plenty of crude oil, Knight said. The problem is not having the capacity to run it, ... Some may be down because they don't have power, and some may be more serious because of flooding, corrosive damage. We don't have accurate information.
Tom Knight
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