It's going to be tough to build products with the number of refineries off line.
For now the gasoline market looks OK. I'm not going to say the summer driving season is not going to see higher prices. I think there's a lot of uncertainty.
It's taking a long time to get the answer. Educated guess: No news is bad news.
It's possible (we'll see $4), but I don't think so.
We're in an information vacuum because it's going to be another couple of days until we get a meaningful damage assessment.
There's a fair amount of visibility that the refineries that haven't come back on yet will be down for a while. That makes the market nervous.
It's more of a feel-good bill than anything else. The bill does nothing to reduce our dependence on imported oil and the only winners will be those that benefit from high energy prices.
I wouldn't call this a failure, but if it happened routinely, we'd have a different discussion.
The markets will treat it like it's Tyrannosaurus rex, but bigger.
We've got a very uncertain geopolitical environment, and we have an uncertain gasoline situation in the U.S., and all those factors are driving the energy market higher.
