Lee Raymond Petroleum Quotations

Petroleum earnings go up and down with the volatility in the openly and globally traded commodities in which we deal. ... History teaches us that punitive measures hastily crafted in reception to short-term market manipulations, will likely have unintended negative consequences including creating disincentives for investment.

This year's second-quarter results benefited from higher liquids production, increased petroleum product and chemical sales volumes, and improved downstream margins.