Fadel Gheit
Fadel Gheit
demand entering huge levels lowest period sitting year
We are entering the lowest demand period of the year sitting on huge levels of inventories.
above average both current earnings expect gas given market oil prices record year
Given the current market fundamentals we expect average prices for both oil and gas this year to be significantly above 2005 record levels. As a result, we expect 2006 earnings to be above 2005 record levels.
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.
exceeded production terms volume year
Operationally they exceeded expectations in terms of production; their production volume was up significantly from year ago.
bullish driven exceeding fears forecasts industry largely oil past potential prices supply year
Oil prices have been exceeding the most bullish forecasts for the past year and a half, and that's not driven by industry fundamentals, but largely by speculation and fears of a potential supply disruption,
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.
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.