Peritus’ Tim Gramatovich as interviewed by The Street’s Joe Deux.
Excerpt transcribed by Rawlinsview, Click photo for link to full interview.
Wed, Sep 4, 2013, 6:46pm EDT – via Yahoo’s “The Street”
……What’s being exposed with this discussion is the facade of our notion of ‘energy independence’ here in the U.S. It’s not close, I mean we are producing somewhere between 6 and 7 million barrels a day, we are consuming 20 million. So the notion of us somehow being independent.. is um its a facade. It’s not going to happen. So it matters and it matters to our standard of living and our quality of life.
You know one other factor that we through in for investors as well is 15 year ago the CFO of Wall Mart came out and said that our number one correlation in terms of retail sales involves gasoline prices. And as gasoline goes down our sales tend to go up as gasoline prices rise our sales tend to go down. So it does matter from a consumer spending perspective.
Interviewer Joe Deux
So then you Do you think that this discussion about Syria, still at the heart of it does have a discussion about oil
Yes without question, Um as much as we would all like to believe that it isn’t and that it is all about humanitarian issues and it certainly is and it should be, there is absolutely no question that you are concerned about the region for that production. That is reality.
As we discussed earlier Syria maybe 50,000 barrels a day really on a 90 million barrels a day production cycle globally, a rounding error, right but the reality is the regional stability is all about oil. …….