Guy Caruso Quotations

I don't have any specific concerns about Saudi Arabia at this time.

I think our view is the market needs to continue to be adequately supplied. There is a lot of uncertainty about demand and therefore it's best to let the market determine how much it wants to take up.

We continue to see geopolitical risk adding to the upside potential of price.

The definition of price gouging is very nebulous,

We're not predicting that we're just saying that's possible.

Conservation is the best short-term initiative we can take.

We think productive capacity will be there in the next couple of months until 2007.

We think that terminals already under construction will be enough to meet our projections.

Demand is up, supply is not rising fast enough to keep prices down, so the only relief valve is price.

Probably, the Midwest region will suffer the largest increases.

Ethanol supplies are expected to remain tight and increased possibility exists for regional short-term supply disruptions and price volatility.

In our outlook we only have two million barrels per day of spare capacity, most of which will be in Saudi Arabia and most of which will be sour. We continue to see that as a pretty tight market.

Clearly, we expect significant price expenditures (for heating fuels) this winter compared to last winter,

There's very little upstream capacity. We're still living in a disrupted world oil supply environment.

Apparently the price isn't high enough to curb non-discretionary travel.

There's a risk that we could have a substantial impact on further refineries. We clearly cannot afford any further disruptions in gasoline production and capacity.

What's happening is fundamentally that the world oil market is extremely tight and crude prices are rising, partly because demand is outstripping supply and partly because of the geopolitical pressures that we're reading about every day in the papers.

We expect gasoline prices to ease off in coming weeks.

We expect them (gas prices) to keep going up ... for at least the next several weeks.

We expect (the supply situation) to remain that way for the next several weeks.

There's a very robust growth in the economy. We see that continuing despite high oil prices.

The market is so tightly balanced, clearly, we can't afford to lose a large supply of crude to the market.

The main factor is increased demand, not only in this country but on a global basis.