The Epic American Credit and Bond Bubble Laboratory Message Board

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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: ild who wrote (42353)	9/26/2005 7:12:20 PM
From: CalculatedRisk	Read Replies (1) of 110194

That is a significant amount of refining capacity shut down ... with no firm estimates to restart. That is about 17% of US production. The Europeans have already sent the US their extra inventories. Now what? The price at the pump has to rise high enough to cut demand (Demand dropped significantly after Katrina). Prices peaked at $3.07 nationwide after Katrina (DOE weekly data). My guess is $3.25 to $3.50 per gallon sometime in the next two weeks. Maybe even higher ...

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