Fadel Gheit
Fadel Gheit
bark friday home thinking
Basically, before the hurricane, they went home Friday thinking this thing is going to fizzle out, it's going to bark but it's not going to bite,
above cold demand gasoline home obviously oil people per run thinking
The demand for gasoline is very strong. And obviously now people are thinking ahead. And if we have a cold winter, we'll see a run up in home heating oil to above $2 per gallon,
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.
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.
higher reflecting stocks support
These stocks are not reflecting $50 or $60 oil. They are probably reflecting $40 oil. But this is not realistic. The fundamentals support a higher price.
emotion field playing
The speculators are going to have a field day playing with emotion and rumor.
dependence economic hit inflation less oil
Our economic dependence on oil is much less than it was even 10 years ago. If inflation comes, it won't be as big a hit as it was in the '80s.
exceeded production terms volume year
Operationally they exceeded expectations in terms of production; their production volume was up significantly from year ago.
created empty foot higher iraq measures moving necessary panic plenty prepared prices reading situation stops threats
We created a panic situation by reading too much into the empty threats, and when these threats started moving prices higher in anticipation, then the U.S. put its foot down and said even if Iraq stops world export, we are prepared to take all the necessary measures to make sure there is plenty of supply.
bring oil prices suddenly weaker
We could suddenly have oversupply and weaker demand, and that will probably bring oil prices down on their own,
cold event market tight
We could see the market getting tight in the event that we have a really cold winter.
cut delicate drive oil prices production releasing subject tinker until
We could say we were releasing oil to drive prices down until they get to $25 a barrel, ... Then OPEC could say it'll cut production to keep prices up. It's a very delicate subject to tinker with.
thunder
BP is more fat. Exxon is all muscle. Exxon stole the thunder this quarter.
companies expect handle ill instant oil prepared prices profits took winning
The surge in oil prices took companies by surprise. They didn't expect the windfall profits and were ill prepared to handle the instant wealth. It's like winning the lottery.