Peter Beutel
Peter Beutel
double extent full gas last level national pass prices
If we pass on the full extent of national gas prices they could be double their level last winter.
gulf hit hurricane last market needs rita storm tropical western
This is all about Tropical Storm Rita ... obviously, the last thing that this market needs is for a hurricane to hit the western gulf where it didn't hit last time.
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.
builds expecting last major report three
Last week's report showed builds in all three major categories, but we aren't expecting this week's report to be as bearish.
capacity demand fuel gasoline jet last less night oil production reports sign spare strong switch time year
At this time of year we have seasonal maintenance on refineries as they switch over from heating oil production to gasoline production. Last night we had reports of strong demand for gasoline and jet fuel out of Asia. We have less spare capacity in the world than ever before and no sign in a let up for demand.
barrels million production raise
They would have to raise production by more than a million barrels a day to get it down to $25,
dropping prices
I think that's going to keep (gasoline and oil) prices from dropping dramatically.
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.
cents labor prices
By Labor Day weekend, prices will be up 20 cents to 50 cents a gallon,
potential seen tremendous
There's tremendous potential for spikes we've never seen before.
nervous
It's a combination of petro-political fears. It's such a nervous market.
rendezvous seems
It seems like we're going to have to rendezvous with the $50 level.
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.
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.