It doesn't matter that the government opens the strategic reserves because there is very little slack in the refining business.

It doesn't matter that the government opens the strategic reserves because there is very little slack in the refining business,

Unlike the public and business is prepared, government cannot do this alone.

It definitely opens up the ice a bit. It's definitely less congested out there.

There isn't the spare capacity to make up for the missing production in the Gulf of Mexico. OPEC used to have 4 to 5 million barrels of spare capacity. That's down to about 1.5 million barrels a day this year.

Nigeria has always been a difficult place and now they have targeted the offshore platforms. They've never done that before. Obviously, that's very dangerous.