Peter Beutel
Peter Beutel
bad news
This is the big one. This is unmitigated, bad news for consumers.
excuse hold meaningful meetings point reason shopping
They have at this point ceased to be a meaningful cartel at these prices. The only reason they hold these OPEC meetings is have an excuse to get out of their own countries, go to Vienna and go on a shopping spree.
excuse hold meaningful meetings point reason shopping
They have at this point ceased to be a meaningful cartel at these prices, ... The only reason they hold these OPEC meetings is have an excuse to get out of their own countries, go to Vienna and go on a shopping spree.
ball behind caught eight opportunity people saw
We did have some profit-taking early, but I think a lot of people that were caught behind the eight ball saw that as an opportunity to buy.
across board draws reason report
Yesterday's report showed draws across the board and for some reason it didn't take.
best commentary electricity line release releasing sad
Release of the SPR isn't going to get the refineries back on line or get the electricity running. Releasing the SPR is the best we can do, which is a sad commentary on our preparedness for this kind of disaster.
cents labor prices
By Labor Day weekend, prices will be up 20 cents to 50 cents a gallon,
area exactly follows knocks production rita
If Rita follows through on its course, all rigs in the area will be evacuated and production will be affected, which is exactly what we don't need, and if Rita knocks out any more refineries, we're in real trouble,
demand fall moves seat supply
If demand is not going to fall and keep on falling, then supply moves back into the driver's seat in this market.
anyone approach logic
I don't see how anyone could approach it with any kind of rationality or logic left.
drop factors higher middle move nigerian number october production time
Still, the middle of October is the time for us to look at a top. A number of fundamentals that used to move higher are getting pretty stale. The drop in production from the U.S. Gulf, the Nigerian strike, a lot of these factors aren't getting any worse.
although bigger demand felt high looks picture prices shifting supply top worst
It now looks like the post-Katrina high will be the top for a long time. Although the supply picture is the worst it has ever been, the weakening demand picture is an even bigger worry. Demand is shifting underfoot as high prices are felt by consumers.
barrels million production raise
They would have to raise production by more than a million barrels a day to get it down to $25,
potential seen tremendous
There's tremendous potential for spikes we've never seen before.