But again, I remain optimistic that the impact on energy from these two events will be limited.
The impact on the broader economy and financial markets of the problems in the subprime markets seems likely to be contained.
As long as we find that the energy impact is only temporary ... my guess is that the effects on the overall economy will be fairly modest.
There's going to be a big impact there for a number of weeks. It's big enough to show up in the national statistics.
impact on consumer spending and production broadly will be modest.
There is of course the direct impact of the shutting down of the U.S. economy, the loss of several hundred thousand jobs at least, and reduced output production in the Gulf,