Quotes by Sarah Emerson

“The market has already bid up the price of gasoline. Its been buy the rumor and sell the fact,”

“Prices will come down on imports. There are lots coming our way.”

“After Katrina, there were a bunch of refineries which didnt sustain structural damage but couldnt turn the power back on.”

“The crude market isnt tight at all. OPEC and non-OPEC production is rising and if anyone wants, they can buy additional oil from the SPR.”

“Growth is down from last year. The U.S. and China led demand growth last year but thats changing. The situation in China and has changed; they are not using as much distillate fuel for power generation.”

“Its a significant amount of oil. If he were successful it would be very significant. But I dont think it will come to pass.”

“We are up above $60 because of Iran. If something happened in Iran we would be in trouble because there isnt enough spare capacity to make up for the loss. If there was 3 or 6 million barrels of spare capacity there wouldnt be this kind of reaction.”

“After Christmas we had two crises. The problems in Nigeria had a short fuse and there was an immediate drop in shipments while the situation in Iran has a much longer fuse.”

“We have big maintenance going on so refiners can gear up for low-sulfur diesel, so were going to chew up some of these high product levels.”

“With oil prices this high I cant see OPEC cutting production. Its clear they wont change the quotas. Prices arent going to fall a lot anytime soon.”