Small item from International Oil Daily

"We believe the full impact of Hurricanes Katrina and Rita is downplayed by the government and the oil industry," Oppenheimer analyst FadelGheit said in a research note Wednesday. "The government is concerned that the news could undermine consumer confidence, which could further curtail economic growth. The industry is concerned that record earnings could reinforce negative public perception and piling record cash could tempt politicians to push for a windfall profit tax."

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