Oil expert warns gas prices could reach ‘apocalyptic’ numbers
OPIS Energy analysis global head Tom Kloza argues he expects gas prices to stay elevated if summer hurricanes threaten oil refineries.
OPIS energy analysis global head Tom Kloza joined "Mornings with Maria," Friday, warning that gas prices could reach "apocalyptic" numbers if the summer hurricane season threatens oil refineries.
TOM KLOZA: Let's be candid… what I'm hearing is the progress was on relaxing some of the summer standards for gasoline so that you can put some cheap components in and swell the gasoline pool. I think a lot of refiners would like to see that, that would mean we'd be able to import stuff that doesn't meet U.S. muster in the summer, and it's a positive sign…unfortunately, positive signs between now and… the middle of August may be just overwhelmed if we have an active tropical season.