Fadel Gheit Rice Quotations

Until and unless the stalemate with Iran is resolved one way or the other, I think we're going to see prices higher.

Barring any serious supply disruption, there is plenty of oil and prices could drop if the weather stays warm. But we have tremendous speculation in the markets driving prices, so there is no way to guarantee they will continue to fall.

There is no reason for the prices to fall when people are obsessed with the possibility of supply disruptions and the fact that prices are not slowing demand.

There is speculation that Texaco would be the next takeover target, but on fundamentals, Texaco is a very cheap stock, very high leverage to both oil prices and gas prices and both moving higher,

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.

Any cooling in economic growth immediately will take oil demand down so one would expect the price will come down.

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.

A rise in oil prices is not good news for the equity market or the economy.

The U.S. uses 20 million barrels of oil a day. Prices are currently inflated by about $15 a barrel, and that additional cost is effectively a $300 million dollar-a-day tax on Americans, eating away at disposable income for people in this country,

This global tension, led by the stalemate between Iran and the U.S., could lead to oil prices about $80. People are really afraid that something is going to happen, and soon.

Obviously, if they had cut production more, prices would have probably moved higher, and that would have curtailed economic growth, ... They want to make sure they will not be blamed for any economic slowdown in the second half of this year.

I truly believe that oil prices have been artificially low for so long that we're now beginning to pay the real price, ... But if gasoline hits $6 per gallon, I guarantee you'll car pool with your next door neighbor, even if he smells.

I do believe we are in an oil price bubble. It will eventually burst. The question is not if but when.

High oil prices will come and haunt us.

Higher oil prices stifle economic growth. There becomes a situation where manufacturers will have to charge consumers more for the increased cost of fuel. The economic recovery right now is very tentative and it can't be hit with higher oil prices.

Speculators pushed the prices beyond even the most bullish estimates, because they exaggerated (supply shortage fears), but now I think we see the party's over.

Speculators have no reason to scare people with shortages. And you can see this because futures are dropping and prices will continue to drop,

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,

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.

We could suddenly have oversupply and weaker demand, and that will probably bring oil prices down on their own,

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.

We're not likely to see oil prices going lower until there's resolution on the Iraqi front,

I will say it will bring gasoline prices down substantially within two to three weeks. I would say by 20 cents at least or even more.

As long as oil prices remain high, oil stocks will continue to outperform the market in general.

Also, the president is making speeches trying to talk oil prices down and say the situation is better, but talk won't change the underlying fundamentals. Demand is still strong, supply is still tight. So even if perception changes for a bit, the situation is no different.

When gas prices rise then discretionary driving is curtailed. People will think twice. I was just down south and everybody I talked to was carpooling.

When gas prices rise then discretionary driving is curtailed, ... People will think twice. I was just down south and everybody I talked to was carpooling.

But when oil goes up, stocks go down. Crude prices have to crash, but it won't happen until about six weeks after the election. We'll see a lot of activity no matter who's in the White House.

If we don't have a particularly cold winter, we won't see prices rise dramatically.

The only thing keeping prices artificially high is the potential for supply disruption, ... Fundamentally, prices should be at $20-to-$25.

It could be a month, it could be a year, but I hope it's not longer. The longer prices stay high, the more trouble there will be.

This administration has created more profit for the industry that it has made since its inception. The oil industry will be the big winner during the (Bush years). We can count on the fact that oil prices are not going to go lower. If they move they will only go higher.

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.

Unless (energy) prices collapse, earnings in 2006 will make 2005 look like a cake walk.

I think OPEC is showing tremendous strength in keeping oil prices firm, but they cannot push it much further, ... If they do, they will have to contend with things that they do not want in the long run, like possible economic troubles.

We reiterate our buy rating, as we believe the upside potential is greater than the downside risk from sharply lower oil prices given the strong demand, tight supply and lack of spare capacity.

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.

The drop in prices correlates with unusually high temperatures in the Northeast.