Fadel Gheit
Fadel Gheit
cold event market tight
We could see the market getting tight in the event that we have a really cold winter.
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.
believe eventually oil price question
I do believe we are in an oil price bubble. It will eventually burst. The question is not if but when.
both industry parties profit pushing serious
There have been serious discussions by politicians from both parties about pushing for windfall profit tax. That's what has the industry terrified.
iraqi likely lower oil prices resolution until
We're not likely to see oil prices going lower until there's resolution on the Iraqi front,
huge printing second
We think they're going to do a huge, huge second quarter. They're printing money, basically.
crude giving lack patient problem wrong
We're giving the patient the wrong medicine. The problem is not the lack of crude oil.
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.
jobs lose people
At the end of the day, people who lose their jobs aren't going to go anywhere.
demand entering huge levels lowest period sitting year
We are entering the lowest demand period of the year sitting on huge levels of inventories.
core holding investors risk seeking superior
Exxon Mobil should be a core holding for long-term investors seeking superior risk-adjusted return.
citizen corporate good welfare work
Exxon is a good corporate citizen but it does not work for the welfare of the country.
adequate ensure hard oil political protect unlike war
But oil is unlike all other commodities, ... It is a political commodity. We will go to war to protect it, to ensure adequate supply, which makes it very, very hard to predict.
crude gasoline high hope hopes lower might people prices reflection
We might see some reflection on crude prices as well as gasoline prices going forward, but not by much. I hope that people do not have high hopes for much lower crude prices or gasoline prices, because that is not in the cards.