Red Cavaney
Red Cavaney
Red Cavaney is an American businessman and lobbyist. He is a former CEO of the American Petroleum Institute, of Ericson Yachts, and he served in the administrations of Richard Nixon and Gerald Ford...
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Lee has been a legend in the pantheon of industry leaders since the beginning of time. He commands this tremendous aura of respect when he speaks. People do listen.
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We can no longer be fortress America. I think we, like other industries, have been slow in understanding the need to communicate what we're doing to the public and opinion makers.
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No one knows the ins and outs of energy policy like Joe Barton.
consumer
A waiver right now would be counterproductive for the consumer over time,
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the mistakes of some past energy policies by trampling the structures of the free marketplace.
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They feel they are not necessary. We are not involved in trying to hold them in place.
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Yes, someday oil will be replaced, but clearly not until alternatives are found and tested - alternatives that are proven more reliable, more versatile, and more cost-competitive than oil.
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If Lady Luck smiles on us there won't be a third hurricane, ... Probably no one is more sensitive to the weather in the Atlantic Ocean or the Gulf than the people in this industry.
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In fact, there are news reports today that the Congressional Research Service has attributed the gasoline price situation in the Midwest to supply disruption problems and the use of reformulated gasoline with ethanol,
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I don't predict prices, but I think it will definitely be a downward trend.
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It is too soon to estimate the extent of fuel supply disruptions, if any. However, even if we are fortunate enough to escape with minimal damage, the shutdowns in preparation for Rita will have some effect,
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Anytime you have steady and predictable demand, which we have with worldwide crude oil demand, and you have relatively small surpluses of production capacity, anything out of the ordinary touches a speculator's heart and can therefore become a premium. Until you have a reasonable surplus capacity, you're going to have problems.
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(The reserve's) basic intent was to provide crude oil at critical times to the users that had the need. If it isn't fully subscribed, then (the refinery) who had an urgent need was taken care of.
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The claims that anticompetitive behavior has contributed to recent gasoline price increases, nationally and in the Midwest, are without any factual basis.