Peter Beutel Quotations
Peter Beutel Quotes about:
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Belongs Quotes
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.
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U.S. refineries prefer a lighter grade of crude than OPEC can add right now. The big problem is the refining issue. Now with another storm threatening the Gulf, and the half the Gulf that avoided Katrina, it has traders spooked this morning. We really don't need another storm near the producing areas at all.
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Add Quotes
U.S. refineries prefer a lighter grade of crude than OPEC can add right now, ... The big problem is the refining issue. Now with another storm threatening the Gulf, and the half the Gulf that avoided Katrina, it has traders spooked this morning. We really don't need another storm near the producing areas at all.
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Additional Quotes
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.
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Additional Quotes
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.
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Amount Quotes
It does appear we've turned the corner here in this market. They're reacting to the fact that there was less damage than expected, rather than the amount of damage that did occur. Yes, it's going to take time to repair these refineries, and yes there will be at least one day we'll see prices run up. But I think we've probably seen the highest gasoline prices behind us.
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Afternoon Quotes
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.
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Behind Quotes
It's going to take a long time before we know exactly how to look at this, what effect Katrina is having long-term. I would like to say for now at least the worst is behind us. What tomorrow brings, particularly on the weather front, remains to be seen. We're still in a tight situation.
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Capacity Quotes
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.