The market's mesmerized by what appear to be low demand numbers. Product supplied is not the same as demand, since it measures what is leaving refineries, not what's being consumed.

The economic stimulus from rebuilding will help offset the economic drag caused by higher energy prices.

Iran and Nigeria have got people extremely nervous.

Iran and Nigeria have got people extremely nervous. There's a concern that around two and a half million barrels per day of Iranian exports could be removed.

The biggest impact may be damage to the port facilities south of New Orleans. We have no way of knowing now how badly they are damaged.

It's not going to be of much help unless we get refineries running again. Releasing oil from the SPR right now would be actually inappropriate because there would be no place to put it.

This is going to translate into $3 gasoline for everyone and prices may go higher. The chances of another storm hitting the region are pretty high and we just aren't prepared for it. Refineries are already having great difficulty getting back up and running.

Are we going to punish the Saudis? Two-thirds of our Middle East oil comes from Saudi Arabia, and despite the ups and downs of the relationship with Saudi Arabia, they tend to be our friends.

Crude oil isn't the problem right now but may be in a few weeks. The helicopters that are needed to get repair crews on the platforms are busy saving people from rooftops.

We should have an overall higher level of distillate product -- This should give the industry a breather.