Doug MacIntyre Tight Quotations

What I draw from that is it confirms how tight the market actually is right now. To us, the big picture is we are in a situation globally and here in the U.S. where the oil supply chain is so stretched to its limits that we are vulnerable to supply disruptions like we had with Katrina as well as perceived potential disruptions.

We've got a lot more down now than normally would be. If gas markets are already tight to begin with and you lose 5 percent of the supply, prices are going to increase.

Even before Katrina we felt the market was on edge, a very tight market, with very little spare (refining) capacity anywhere along the chain.