We fear that people are mistaking the size of our earnings for a windfall, not realizing the enormous levels of investments required to achieve those earnings and bring new energy supplies to the market.

The trend toward consolidation is being driven by globalization, with mergers giving companies from all industries sufficient scale and a lower cost structure to enable them to compete in a global arena.

Our country sorely needs additional refining capacity, pipelines and other critical energy infrastructure, including LNG [liquefied natural gas]-receiving terminals. The private sector will make these investments without need of any new government incentives, ... However, the industry needs governments at all levels to streamline permitting and environmental review processes so we can make these investments and add to our energy supplies.

As an industry we feel it is not a good precedent to fund a government program.

Obviously, the United States we don't need another hurricane, ... It certainly could have an impact on the production and the refineries that are up and running today and it certainly would have an impact on the recovery.

We think that's more a realm of the government,