30 Quotes by Doug MacIntyre

We probably are OK (with gasoline supplies) to get to Labor Day, but the question is how much is demand going to fall off (after the holiday) and what's crude going to do and how does that impact the gasoline price.

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 think they're going to likely continue to rise for a few more weeks at least.

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.

There's still crude out there that can make up for any loss in production.

Normally we'd expect to see a decline of about 400,000 barrels a day from August to September just for seasonal reasons, as people stop taking vacations.

Demand growth has become so strong that these higher supply levels don't represent the same daily demand coverage they used to. SUVs are making up a bigger percentage of the fleet and the average American tends to drive more miles.

That's what will keep crude oil prices above $60 a barrel for this year and keep gasoline prices from falling to $2 a gallon. We are forecasting prices to go back up this summer ... above $2.50.