Impact: Interview With Phil Flynn.

Publication: Finance Wire

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Original Source: THE O'REILLY FACTOR

O'REILLY: "Impact" segment tonight, Katrina has hit the oil industry hard, forcing shut down of rigs in the Gulf. These reserves make up about 25 percent of U.S. production. This of course drives up the cost of gas all over the country.

Question, what can be done? Will President Bush release oil reserves?

Joining us now from Chicago, Phil Flynn, senior managing analyst at Al Aron Trading Corporation.

All right, Mr. Flynn, best guess, is the president opening up the strategic reserves to keep the prices down?

PHIL FLYNN, SENATOR ENERGY ANALYST: I think he is. And maybe not just to keep the prices down, but to keep the refinery running.

The main issue here is because the Louisiana offshore oil port, what's known as the loop, has been shut down. And that's going to cause a real supply tightness of crude oil getting to the Midwest, where we desperately need it to make gasoline.

So I think that the president is going to hear the call from oil refiners, hey,...

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