Jamal Qureshi
Jamal Qureshi
blew doubles hole katrina problems product rita serious
Katrina blew a big hole in the product market. If Rita doubles that, we are in for some serious problems.
ahead challenges national problems switch
There's some new problems and challenges ahead in the national switch to ethanol.
starved
Even if the refineries are OK, they could be starved of their imports.
chinese crude flows happy impact iran iranian major oil sanctions
I think sanctions that impact oil flows from Iran are very unlikely. The Chinese are major importers of Iranian crude and they would not be too happy to see that.
hard incentives people price run
People are going to run as hard as they can. The price incentives are there.
existing fields hard million seeing sounds time
A million sounds pretty high. I have a hard time seeing that from just existing fields and rehabilitation.
covering happen people positions
People are covering their positions before the weekend. We don't know what's going to happen with Iran.
people product tight worried
People were worried post-Katrina as we have real tight product supply,
ahead brought easy recovery slower stuff tough
This is significantly slower than the recovery from (Hurricane) Ivan, ... The easy stuff has been brought back. ... Now the tough stuff is ahead of us.
bigger blow heading hole huge hurricane products
Now we have a hurricane heading for the bigger part of the coastal refinery center, threatening to blow a huge hole in products supply.
build crude easy high huge pumping understand
We had a huge US crude build and OPEC said they're going to just keep pumping at high levels, so between the two of those it's pretty easy to understand the sell-off.
framework legal stable until
You don't know the legal framework that you are working under. You won't have that until you have a stable government.
kerry likely petroleum
Under a Kerry administration we'd likely have a much more interventionist SPR (Strategic Petroleum Reserve) policy,
closer demand faces high hold imported key people political problems purchasing serious several stability supplies
We're in a world that faces serious problems with political stability in several key regions. People want to hold more supplies closer to home, and that's going to keep demand high for purchasing imported barrels.