A lot of consumers, particularly in New York and other places, are already seeing $3 a gallon. I think the question is will most consumers be seeing $3.50 and $4? At this point it's a real possibility. |
All the tensions and stress in the world's oil markets are flowing into the gasoline pump. The crude oil market is very tight, and a market that's this tight is vulnerable to politics, to hurricanes, to strikes and to emotions, and that's what we're seeing. |
Depending on what we learn in the next few days this may be the biggest oil-supply shock since the 1970s. We are now in the days of reckoning. |
Depending on what we learn in the next few days, this may be the biggest oil-supply shock since the 1970s. We are now in the days of reckoning, |
Depending on what we learn in the next few days, this may be the biggest oil-supply shock since the 1970s. We are now in the days of reckoning. |
Ethanol is mandating additional diversity to the pool of motor fuels. The definition of oil is being widened. |
Everywhere in the world, moving from control to decontrol of prices creates turbulence and also political costs. |
Fourteen months ago, oil seemed to be in a bull market ? then Asia collapsed, ... This is basically a gross domestic product crisis driven by Asia, so the real prospects are whether you think Asia by the year 2000 will start showing signs of recovery. |
Gas prices are clearly reaching a level where it's a political problem for people, ... unless you empty [the reserve], it is a very temporary expedient. It does not affect the basic supply-and-demand problem. |
He's wonderful at stirring up an argument and slinging around rhetoric. ... For some of these people, it seems to be a theological issue. For us, it's an analytic issue. |
I think we've seen a change in the mentality of the senior management of the oil industry over the last few months, |
If the next weeks reveal that the losses are as large as some fear, this would constitute one of the biggest energy shocks since the 1970s, perhaps even the biggest. |
If they don't ease more oil into the market over the next six weeks, we could see prices spike a good deal higher than they are now. |
In real terms, consumers today are paying considerably less for gasoline than they did during World War I. |
Particularly the East Coast could soon be teetering on the edge of shortage. |