Carl Levin actually said...

"I would think he is an expert. He knows firsthand."

"So you would agree that the basis, the price gap, is larger than has been historically the case, is that correct?"

"But the volatility in the basis has had an effect on you."

"I am not sure I understand your explanation as to why you disagree that the storage cost shift cannot explain this increase in the gap between futures and cash prices."