Fadel Gheit
Fadel Gheit
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.
damage hurricane rita
The damage from Hurricane Rita has been significantly under-reported.
damage hurricane rita
The damage from Hurricane Rita has been significantly underreported,
damage hurricane might
The hurricane might not have to damage refineries to keep them off line.
exceeded gulf highest hurricane impact mexico path
The hurricane impact significantly exceeded everybody's highest estimate. Being in the Gulf of Mexico and being in the path of the hurricanes, there's nothing you can do about that.
bad hurricane situation
The infrastructure was already strained before the hurricane. The hurricane has made a bad situation worse.
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.