As long as economic growth and demand remain vibrant, it's difficult to see much pressure taken off the oil price. If you're looking at the next six months, we don't see the kind of (supply) growth that would make a difference in prices. |
Katrina really increased the anxiety about gasoline prices in the U.S. and calls for conservation only add to that, |
People need to drive to work, take their kids to school, go to the store and so forth. |
So far we're not at the point where demand is pulling back. |
The typical U.S. consumer may not see much of a difference when they go to the pump. |
We do anticipate some price moderation in the coming months, but only moderation that results in prices that are still high by just about anybody's definition. |