Fadel Gheit
Fadel Gheit
charged headlines situation
You put all these headlines together, you see the situation is getting charged up and getting out of control.
bad capacity events hurricane offset situation spare stretched
There isn't enough spare refining capacity around to offset these unpredictable events, ... We were stretched before the hurricane; the hurricane made a bad situation worse.
bad freaky good news next quarter
This is a very very freaky market. The the bad news is this was a very bad quarter. The good news is next quarter is going to be better.
cooling demand economic expect growth oil price
Any cooling in economic growth immediately will take oil demand down so one would expect the price will come down.
solution
And there is no near-term solution for any of these things.
bulk easy last oil three
The bulk of the replacement in the last three years was through acquisitions. The easy oil has been discovered.
evidence worry
This is evidence that we really don't have to worry about shortages,
company followed forecast industry lower oil production reduce reserve spending
This is an industry in crisis. Every oil company will reduce their production forecast as lower spending will immediately be followed by lower production and lower reserve replacement.
additional barrels cost currently disposable eating income inflated million oil people prices tax uses
The U.S. uses 20 million barrels of oil a day. Prices are currently inflated by about $15 a barrel, and that additional cost is effectively a $300 million dollar-a-day tax on Americans, eating away at disposable income for people in this country,
afraid global iran lead led oil people prices
This global tension, led by the stalemate between Iran and the U.S., could lead to oil prices about $80. People are really afraid that something is going to happen, and soon.
count created fact industry move oil prices profit since winner
This administration has created more profit for the industry that it has made since its inception. The oil industry will be the big winner during the (Bush years). We can count on the fact that oil prices are not going to go lower. If they move they will only go higher.
beyond bullish prices pushed shortage
Speculators pushed the prices beyond even the most bullish estimates, because they exaggerated (supply shortage fears), but now I think we see the party's over.
continue dropping people prices reason scare
Speculators have no reason to scare people with shortages. And you can see this because futures are dropping and prices will continue to drop,
bullish driven exceeding fears forecasts industry largely oil past potential prices supply year
Oil prices have been exceeding the most bullish forecasts for the past year and a half, and that's not driven by industry fundamentals, but largely by speculation and fears of a potential supply disruption,