Peter Beutel
Peter Beutel
energy major prices recession time triple
Every time energy prices triple we have a major recession in 1½ to 2 years.
afternoon anyone exactly friday goes gulf katrina likelihood looks market people point short talking
At this point it looks like $70 is squarely in the market's sights, and people are talking about it as a done deal, ... The likelihood is that if Katrina goes into the Gulf and we don't know exactly where it will make landfall, anyone short in this market Friday afternoon will panic.
broke funds mutual oil
We also broke an important barrier. Once oil broke $62.50, a lot of mutual funds and speculators started buying.
additional almost bad everywhere expect gas increase news prices sometime
Right away, nationwide, we're going to see an increase of gas prices of 12 cents. We'll see it almost everywhere by Tuesday. In addition, sometime between St. Patrick's Day and the end of the month, I expect to see an additional 12 cents. This is extraordinarily bad news for the consumer.
problems seems supply
One of the big problems is that it seems there's no supply to see us through the end of the year.
additional aggressive agree almost attention build change company focused good hoops jump margins news ramp storm
The only good news is that with margins like this, every refiner that can will ramp up output. There may be a long-term change because this storm has focused attention on the need for additional refineries. An aggressive company may agree to jump through the hoops to build the first new refinery in almost 30 years.
ask increase traders
There's some apprehension about the report. If we don't see an increase in distillate inventories, traders are going to ask when we will before winter.
ask increase traders
There's some apprehension about the report, ... If we don't see an increase in distillate inventories, traders are going to ask when we will before winter.
acting fact fallen prices seem telling
Prices to me seem to be sick. I don't know if it's something to do with the economy. The fact that they're acting so sick, that they've fallen down and they can't get up is telling me that it may be something structural.
beyond difficulty either moving prices range seem trading
Prices seem to be in a trading range between $57 and $64. They are having difficulty moving beyond either of those borders.
fact further gear ignored kicked proof
The very fact that it was ignored is further proof that we are now in a bearish market. We feel that we may have kicked into a new gear on the downside.
absolutely supply
This has absolutely nothing to do with supply and demand.
billion consumers energy last nearly spent three week
American consumers spent nearly $10 billion more last week on energy than they did in the same week three years ago. That's not sustainable.
kept numbers sign
This is a postcard from another country. If only we could have kept these numbers without the hurricane, this would have been a real sign of hope.