FastSaying

We probably are OK (with gasoline supplies) to get to Labor Day, but the question is how much is demand going to fall off (after the holiday) and what's crude going to do and how does that impact the gasoline price.

Doug MacIntyre

DayLabor

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Normally we'd expect to see a decline of about 400,000 barrels a day from August to September just for seasonal reasons, as people stop taking vacations.
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It?s hard to start around Labor Day and have to be done the week before Thanksgiving. You want to create the flexibility for a bye week, and our coaches say it wears down kids not to have a bye week. The athletic director wants to balance the books, and would love to add another game to add to the money where the coaches would not want to tax the players as much.
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Then it really depends on how the summer unfolds with demand and summer vacations.
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Even before Katrina we felt the market was on edge, a very tight market, with very little spare (refining) capacity anywhere along the chain.
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That sort of gives an indication of the price impact. It's a big decline.
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