Fadel Gheit Quotations | Page 2

The more President Bush talks about releasing strategic reserves, the more we understand that weve got no more production to give.

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.

It's market perception that moves the market, and the perception is negative,

It's a normal pullback after a sharp rise that was driven more by speculation than fundamentals.

It's like the guy who won the lottery, and now everybody hates him.

Everybody is trying to secure their own resources instead of being dependent on somebody else. All these government-owned companies or government agencies are emerging from the bureaucracy and the state's shadow.

The biggest disaster was the lack of information: The refineries - are they up or down? What happened to the platforms?

It's cheaper for companies to buy production and reserves on Wall Street than go drill for it. It's instant gratification.

It was like a very long dream, and we're finally waking up. Gasoline by any measure is still very, very inexpensive compared to anywhere.

The warm weather in the U.S. may be cutting demand for oil by 1 million barrels per day.

The volume of lost production will be significantly greater than that lost under Ivan. Not one company that was affected has been able to restore its production 100 percent.

The U.S. and global economies are like the walking wounded, ... It's not a matter of whether they will fall, but of when.

These two companies are rearranging the seats around the table of the biggest game in town. They are prepared for $12 oil; they are looking beyond that,

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.

Investors need to think first, and not put money randomly into oil stocks,

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.

Because the temperatures are rising as high as 60 degrees in (some parts of the region), the expectation is that weekly inventory data will show an increase to reflect less consumption.

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

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 infrastructure was already strained before the hurricane. The hurricane has made a bad situation worse.

These governments are totally unpopular and repressive. The only thing they have going for them is buying stability, throwing money at their friends and enemies.

Alliances are temporary engagement periods and are short of a merger, but they get in the way of the business and are distracting from bigger and better things.

The damage from Hurricane Rita has been significantly under-reported.

The damage from Hurricane Rita has been significantly underreported,

The hurricane might not have to damage refineries to keep them off line.

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.

All they want to do is maintain the same speed.

All these things are beginning to show up. When you have rising energy prices, something has to give. It's not going to go unmatched by costs.

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

The easing of the tensions in the Middle East has calmed down the oil market and there appear to be no immediate plans to conduct military action against Iraq. So that has eliminated the second point of worry,

The companies will have to work hard to earn their performance. They are not going to get a free ride on the back of rising oil and gas prices, which are likely to be flat. What will excite investors are those companies that are able to grow production, add reserves, control costs, raise dividends or buy back stock.

All these companies have so much money, they don't know what to do with it.

All these alternative energy sources are unlikely to make a dent in the big picture. It's going to be many, many years into the future before we see any meaningful results. I don't think any real analysts or investors are betting the ranch on hydrogen.

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,