It's going to be tough to build products with the number of refineries off line.
It's taking a long time to get the answer. Educated guess: No news is bad news.
We're in an information vacuum because it's going to be another couple of days until we get a meaningful damage assessment.
It's possible (we'll see $4), but I don't think so.
I hate to be an alarmist, but we're in a situation without much precedent. With the gasoline market as tight as it is, people complain about $3 gas but they'll put $5 gas in their car if they suddenly think it's not available.
It's more of a feel-good bill than anything else. The bill does nothing to reduce our dependence on imported oil and the only winners will be those that benefit from high energy prices.
There's a fair amount of visibility that the refineries that haven't come back on yet will be down for a while. That makes the market nervous.
The markets will treat it like it's Tyrannosaurus rex, but bigger.
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