49 Quotes by John Felmy

Our companies don't set the price. The market sets the price.

Markets work, if you let them. Clearly, with $60 oil, anybody who can get a project into production and sell oil is going to be doing that.

I think most people would agree that two-thirds of the economic slowdown we've seen is due to higher energy prices, ... And with higher energy prices, consumers will either have to reduce savings rates ... or reduce consumption.

That would be the stupidest thing on Earth we could do. It would throw us back into the 1970s.

When you start intervening in a market, it starts you down a slippery slope of price controls, marketing manipulation and -- ultimately -- the bad energy policy that we suffered through in the 1970s.

What you've got are a whole series of requirements and processes and that takes days, if not weeks.

The real question is, What will consumers do? That's a key part of the equation.

We can't speak for each of the 170,000 gasoline stations nationwide, ... But it's clear that gasoline prices are up 29 cents a gallon because crude oil prices are up about 29 cents a gallon during the same period.

We've been producing record amounts of distillate fuel but what we've seen in ... New England, which is a primary consumer of heating oil, we've seen our inventories of primary storage shoot up to something like 50% above average.