Fadel Gheit
Fadel Gheit
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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.
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Lee Raymond really set the standard for other CEOs in the industry. Everybody else copied Lee Raymond, but you can't duplicate what he's done.
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It's like the guy who won the lottery, and now everybody hates him.
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When gas prices rise then discretionary driving is curtailed. People will think twice. I was just down south and everybody I talked to was carpooling.
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When gas prices rise then discretionary driving is curtailed, ... People will think twice. I was just down south and everybody I talked to was carpooling.
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We're already seeing some companies yielding to pressure. But everybody is waiting for the big lady to sing, which is Exxon.
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The biggest disaster was the lack of information: The refineries - are they up or down? What happened to the platforms?
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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,
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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.
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It's cheaper for companies to buy production and reserves on Wall Street than go drill for it. It's instant gratification.
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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.
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A rise in oil prices is not good news for the equity market or the economy.
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The warm weather in the U.S. may be cutting demand for oil by 1 million barrels per day.
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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.