74 Quotes by Peter Beutel

It's just a matter of seeing how high prices will go before we reach a level that will stop growth.

It seems like we're going to have to rendezvous with the $50 level.

It's a combination of petro-political fears. It's such a nervous market.

It's less than 30,000 barrels a day in a country that consumes 21 million. That's not even rearranging a single deck chair on the Titanic. But psychologically, it has some effect.

It's going to take a long time before we know exactly how to look at this, what effect Katrina is having long-term. I would like to say for now at least the worst is behind us. What tomorrow brings, particularly on the weather front, remains to be seen. We're still in a tight situation.

Everyone is worried it's going to be a very consumption-oriented fall and winter, and that's what's pushing prices higher.

Still, the middle of October is the time for us to look at a top. A number of fundamentals that used to move higher are getting pretty stale. The drop in production from the U.S. Gulf, the Nigerian strike, a lot of these factors aren't getting any worse.

It now looks like the post-Katrina high will be the top for a long time. Although the supply picture is the worst it has ever been, the weakening demand picture is an even bigger worry. Demand is shifting underfoot as high prices are felt by consumers.

They would have to raise production by more than a million barrels a day to get it down to $25,