Fadel Gheit
Fadel Gheit
barrels cutting demand million oil per warm weather
The warm weather in the U.S. may be cutting demand for oil by 1 million barrels per day.
advantage barrel cake eat high holding marginal producer producing wants
Every producer around the world is producing the marginal barrel to take advantage of high prices. Right now, OPEC is not holding back. But OPEC wants to have its cake and eat it, too.
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,
arrive barrels carrying million tomorrow vessel
One million barrels is nothing, it's like a rounding error, ... One vessel could arrive tomorrow carrying one or two million barrels of crude.
barrels environment exporter increase investment iraq largest million next oil production year
With the right investment environment and under the right government, Iraq could increase production by a million barrels a day every year for the next 10 years, ... It could be the largest oil exporter in the world, eclipsing Saudi Arabia.
adding barrels billion discovery elephant reason trouble
Part of the reason (companies are having trouble adding real reserves) is that there has not been an elephant discovery -- one over a billion barrels -- for 15 years.
agencies companies dependent emerging everybody government instead resources secure somebody trying
Everybody is trying to secure their own resources instead of being dependent on somebody else. All these government-owned companies or government agencies are emerging from the bureaucracy and the state's shadow.
biggest disaster happened lack
The biggest disaster was the lack of information: The refineries - are they up or down? What happened to the platforms?
beyond biggest companies game looking prepared seats table
These two companies are rearranging the seats around the table of the biggest game in town. They are prepared for $12 oil; they are looking beyond that,
compared finally gasoline measure waking
It was like a very long dream, and we're finally waking up. Gasoline by any measure is still very, very inexpensive compared to anywhere.
buy cheaper companies drill instant production reserves street wall
It's cheaper for companies to buy production and reserves on Wall Street than go drill for it. It's instant gratification.
average bill close cost disposable due economic fuel gas gasoline higher home impacts less means oil paying per power prices purchasing retail rise week
A rise in oil prices stifles economic growth, ... There is a close correlation between gasoline prices and retail sales. Paying more per week for gas means less disposable income, which impacts retail and the purchasing power of the consumer, as does a higher average home heating bill due to the cost of fuel oil.
equity good market news oil prices rise
A rise in oil prices is not good news for the equity market or the economy.
affected company greater lost production restore volume
The volume of lost production will be significantly greater than that lost under Ivan. Not one company that was affected has been able to restore its production 100 percent.