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[0:00] ..." 143 dollars plus a barrel for a brief time anyway that prices. New York crude oil on the nymex exchange overnight and questions abound as to how high it'll go on what's behind the high cost"...
[0:52] ..." past couple months so if you believe supply and demand and was pricey gas --"...
[1:41] ..." concern to new englanders even though we are months away from the cold weather this is -- time -- a lot of people will Philip's attack because they can do so less expensively not this year"...
[2:34] ..." He -- gasoline price is a very good chance to beat back under four dollars a gallon by the end of the year. And heating oil"...
[0:00]" 143 dollars plus a barrel for a brief time anyway that prices. New York crude oil on the nymex exchange overnight and questions abound as to how high it'll go on what's behind the high cost and joining us to talk about this morning is oil industry analyst John Kilduff and -- start off by asking how high can ago."
[0:19]" seems to be almost no one inside at this point and but I think certainly upwards of 150 dollars a barrel is in the cards here quite quickly but I do think now we're in the process of reaching a major breaking point as -- various countries raising their prices cutting subsidies. And brings to -- on consumers."
[0:38]" Now we know that the still developing world particularly economies like China and India. Have increased demand for oil overall here in this country however the demand for gasoline has declined and demonstrably so over the past couple months so if you believe supply and demand and was pricey gas --"
[0:57]" A lot of things -- combining to make supplies worries acute. We have a major major situation in Nigeria -- 50% of that country's oil -- mine almost over a million barrels a day there was another attack this morning at -- things similarly we're seeing incredible amount of new importation and demand by China. My thesis is that it's a runup to the Olympics and that after the Olympics -- China will. Early spot -- animals seem real -- Britain and destruction Aaron that will break the act of things. But China for example imports 34 times. More heating oil last month when they did the same time a year ago so the numbers keep being sparkling at times on both the supply and demand front."
[1:39]" John -- heating -- obviously is of great concern to new englanders even though we are months away from the cold weather this is -- time -- a lot of people will Philip's attack because they can do so less expensively not this year what's the future for home heating -- again on."
[1:52]" I -- price caps are being marketed out there upwards of five dollars a gallon which is an incredible -- I would say that a decision here now looking at the winter it looks terrific but I think -- high prices are experiencing now should lead to more demand or reduction destruction -- it's being called now and I don't believe that these prices will necessarily persist into the winter and a lot something of a gamble that the average home heating oil customer. Would -- be want to buy cap so that prices again you can participate but GW worst case scenario locking and I think appears not a great idea."
[2:26]" Under an optimistic but realistic view what do you think home heating oil will cost next to several -- gasoline cost to September."
[2:34]" He -- gasoline price is a very good chance to beat back under four dollars a gallon by the end of the year. And heating oil prices should so -- be lower although certainly as painful as it's been this winter's going to be at least as bad. This coming up winter."
[2:50]" And finally Jon Kyl of what about the rule of investors. People who were hedging against a weak dollar by buying oil futures -- is that contributed to the 143 dollars a barrel for crude."
[3:00]" What they're big factor me to the extent that which is a function of the other I guess is the real question that the dollar continued to decline because of inflation pressures in her actions are not being taken by our Federal Reserve in terms of raising interest rates. And as that dollar declines. -- commodity -- just by. Definition in mathematics need to go a lot and because the lack confidence in the equity markets right now as bad things are there. It's as if all the money's hiding out in this safe place. Part acceptable to oil the -- you name it because there seemed to be no other place to invest will be able to keep your money say so it is a big part of it. He -- in turn around later in the year we get an interest rate hike by the Federal Reserve and there's renewed confidence some Al -- housing an equity markets these oil prices welcomed and speculation will amount it"
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