Peter Beutel
Peter Beutel
belongs company debate direction err fields larger percentage portion prefer profits spending
We can debate what percentage of the profits should be plowed back into the company and what percentage belongs to the shareholders. Not being a shareholder, I'd prefer to see them err in the direction of spending a larger portion on refineries and new (oil and gas) fields and infrastructure.
across board draws reason report
Yesterday's report showed draws across the board and for some reason it didn't take.
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.
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.
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.
barrels buy country growing growth interested million suddenly surplus trying
It is a country interested in growing rapidly, and one of the big bottlenecks in its growth has been energy. If it was suddenly trying to buy 1.5 million barrels today, it'd sop up most of the surplus right now.
beneath disaster texas
Having one beneath Texas would be an unmitigated disaster.
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.