The key thing that I can't answer is will consumers act appropriately. If they decide to rush the system, it can't handle it even in the best of times.
More Quotes from John Felmy:
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,John Felmy
Get ready for winter.
John Felmy
It is important to do no harm. The worst thing Congress could do now would be to repeat the mistakes of the past by overriding the structures of the free marketplace (by) imposing new controls, allocation schemes, new taxes on industry or other obstacles.
John Felmy
Things clearly have to get done on a government level to fix these issues.
John Felmy
The first thing we need to do in response to these climbing prices is get our house in order. The U.S. needs legislation that addresses our energy problems, provides incentives for alternative energy, improves energy infrastructure, maximizes domestic resources and addresses the fact that the energy crisis we face now isn't going away.
John Felmy
It was a mistake then, and it is still a bad idea. It drained 79 billion from the industry and reduced the rate of return for producing oil in this country.
John Felmy
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