“[Meanwhile Chavez is picking fights with foreign oil companies — including Shell, ExxonMobil, Repsol YPF, Chevron, BP, and Total that have been working in Venezuela for years. Thirty-two publicly traded oil companies are accused of owing Venezuela $4 billion in back taxes for overproduction — something they deny. This follows Venezuela's hikes in production royalties from 1% to 16.7% in October, hikes in taxes on operating agreements from 32% to 50% in April, and a declared end to contracted dollar payments to foreign oil field operators in May.] The desire to operate in Venezuela, ... is fading fast.”
“The inventory reports should again be viewed with a cautious eye, as obviously the 'normal' transfer of products around the Gulf Coast is anything but 'normal,'”
“My times have improved by about a minute and a half (since last season), ... I trained pretty hard over the summer. Coach (Adam Kedge) gave us a training plan. I tried to run every day. I guess it paid off.”
“Mother Nature is going to be huge in the next several weeks. Long term I think we're headed to $30 to $35, but I don't think we're doing that yet. We have a lot of winter left.”
“The recovery continues to be slow. Government reserves will more than make up for reduced production but they will eventually have to be replaced. This will probably end up being the most damaging storm to the industry by far.”
