Peter Beutel Last Quotations

If we pass on the full extent of national gas prices they could be double their level last winter.

Last week's report showed builds in all three major categories, but we aren't expecting this week's report to be as bearish.

American consumers spent nearly $10 billion more last week on energy than they did in the same week three years ago. That's not sustainable.

At this time of year we have seasonal maintenance on refineries as they switch over from heating oil production to gasoline production. Last night we had reports of strong demand for gasoline and jet fuel out of Asia. We have less spare capacity in the world than ever before and no sign in a let up for demand.

This is all about Tropical Storm Rita ... obviously, the last thing that this market needs is for a hurricane to hit the western gulf where it didn't hit last time.