The Exxon Mobil chairman just said at a conference today that oil prices are basically reflecting the global political climate more than supply and demand fundamentals. |
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. |
The hurricane might not have to damage refineries to keep them off line. |
The infrastructure was already strained before the hurricane. The hurricane has made a bad situation worse. |
The market always overreacts. That's the nature of the beast. There's tremendous speculation both on the way up and on the way down, |
The market is therefore focused on two things: No additional supplies coming from OPEC. The other factor is that we should be entering what is a high demand period for oil products with the start of the summer season, |
The market is therefore focused on two things: No additional supplies coming from OPEC. The other factor is that we should be entering what is a high demand period for oil products with the start of the summer season. |
The more President Bush talks about releasing strategic reserves, the more we understand that weve got no more production to give. |
The only good news about the first quarter is that it's over, |
The only option for these companies is to merge and seek yet more job cuts and savings. |
The only thing keeping prices artificially high is the potential for supply disruption, ... Fundamentally, prices should be at $20-to-$25. |
The only weapon they can use is oil. |
The problem is not lack of oil supply. It's lack of oil refining capacity, ... You can give me all the oil you want, but our cars do not run on crude oil. |
The speculators are going to have a field day playing with emotion and rumor. |
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. |