Iran continues to weigh but there is a sense that it's a longer-term situation. I don't see any rash decisions about sanctions, embargoes or cuts in supply.

We're not in a situation where we need to do something rash.

Over the longer term, we'll see the same situation as strong or stronger in 2006 due to further increases in demand and environmental restrictions that go into effect at the end of the year and will challenge refiners,

Over the longer term, we'll see the same situation as strong or stronger in 2006 due to further increases in demand and environmental restrictions that go into effect at the end of the year and will challenge refiners.

In the short run, it's a no-win situation for the administration. But longer term, it's a win-win situation because you keep financial flows going, and economic growth will become a lot firmer.

A1 Great Britain has to look at the longer term.