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Fadel Gheit

We are entering the lowest demand period of the year sitting on huge levels of inventories.
— Fadel Gheit man
We could say we were releasing oil to drive prices down until they get to $25 a barrel, ... Then OPEC could say itll cut production to keep prices up. Its a very delicate subject to tinker with.
— Fadel Gheit sin
We could see the market getting tight in the event that we have a really cold winter.
— Fadel Gheit winter
We could suddenly have oversupply and weaker demand, and that will probably bring oil prices down on their own,
— Fadel Gheit man
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.
— Fadel Gheit art
Were already seeing some companies yielding to pressure. But everybody is waiting for the big lady to sing, which is Exxon.
— Fadel Gheit sin
We have to remember here that almost 25 per cent of our refining capacity is concentrated within a 15 to 20 mile radius from the Houston area, so any impact could be substantial,
— Fadel Gheit wit
We think theyre going to do a huge, huge second quarter. Theyre printing money, basically.
— Fadel Gheit art
Were not likely to see oil prices going lower until theres resolution on the Iraqi front,
— Fadel Gheit
There have been serious discussions by politicians from both parties about pushing for windfall profit tax. Thats what has the industry terrified.
— Fadel Gheit art
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.
— Fadel Gheit hope
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,
— Fadel Gheit men
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.
— Fadel Gheit people
We are not insulated from the rest of the world, like it or not.
— Fadel Gheit world
We are only scratching the surface. In my view, this company is hitting on all cylinders.
— Fadel Gheit
Until and unless the stalemate with Iran is resolved one way or the other, I think were going to see prices higher.
— Fadel Gheit think
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.
— Fadel Gheit people
We have not even recovered from Katrina, so it would be another big blow.
— Fadel Gheit
The problem is not lack of oil supply. Its lack of oil refining capacity, ... You can give me all the oil you want, but our cars do not run on crude oil.
— Fadel Gheit you
Volatility will continue and we are going to see higher highs and lower lows.
— Fadel Gheit will
Were giving the patient the wrong medicine. The problem is not the lack of crude oil.
— Fadel Gheit medicine
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.
— Fadel Gheit man
There are mandatory evacuations in the Galveston area, and most of the operating companies near Texas City are preparing to shut down completely by this Friday. They believe, at best, they will be shut down for three days, maybe as long as a week.
— Fadel Gheit man
The conventional wisdom was that we were going to see immediately after the terrorist attack a spike of oil prices,
— Fadel Gheit wisdom
The demand for gasoline is very strong. And obviously now people are thinking ahead. And if we have a cold winter, well see a run up in home heating oil to above $2 per gallon,
— Fadel Gheit people
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.
— Fadel Gheit men
The only good news about the first quarter is that its over,
— Fadel Gheit art
The only option for these companies is to merge and seek yet more job cuts and savings.
— Fadel Gheit job
This rally is the perfect storm. Its surreal, its like watching a movie.
— Fadel Gheit surreal
Were still in a delicate balance, with people still concerned about a major supply disruption.
— Fadel Gheit people
Unless (energy) prices collapse, earnings in 2006 will make 2005 look like a cake walk.
— Fadel Gheit energy
What hes saying makes a lot of sense. Unfortunately, the source of the comment is going to send jitters in the market.
— Fadel Gheit men
Weve given them enough of a scare the last few days, a preview of things to come when demand is not strong,
— Fadel Gheit man
The only thing keeping prices artificially high is the potential for supply disruption, ... Fundamentally, prices should be at $20-to-$25.
— Fadel Gheit art
The only weapon they can use is oil.
— Fadel Gheit
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 cant be hit with higher oil prices.
— Fadel Gheit growth
High oil prices will come and haunt us.
— Fadel Gheit will
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.
— Fadel Gheit art
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.
— Fadel Gheit war
Basically, before the hurricane, they went home Friday thinking this thing is going to fizzle out, its going to bark but its not going to bite,
— Fadel Gheit thinking
Because of the changes around the world, you cannot take a very hard line and unwavering view.
— Fadel Gheit change
Basically, it was a great period for traders - some of them made a lot of money and some of them lost a lot of money.
— Fadel Gheit money
Basically the stocks are following the sentiment on the crude side more than anything else. There are no big surprises.
— Fadel Gheit time
But when oil goes up, stocks go down. Crude prices have to crash, but it wont happen until about six weeks after the election. Well see a lot of activity no matter whos in the White House.
— Fadel Gheit
I do believe we are in an oil price bubble. It will eventually burst. The question is not if but when.
— Fadel Gheit believe
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.
— Fadel Gheit men
If we dont have a particularly cold winter, we wont see prices rise dramatically.
— Fadel Gheit art
I guarantee $3-a- gallon gas all over the country if we have any supply disruption anywhere in the Middle East.
— Fadel Gheit country
Investors need to think first, and not put money randomly into oil stocks,
— Fadel Gheit money
I think Exxon would probably have to sweeten the deal with some cash, but Exxon stock is an extremely good currency for Mobil shareholders to hold.
— Fadel Gheit good
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.
— Fadel Gheit men
It could be a month, it could be a year, but I hope its not longer. The longer prices stay high, the more trouble there will be.
— Fadel Gheit hope
I would say well probably see $70 (a barrel) again before we see $50 or $55 even. When the dust settles, well see that while Rita did not match Katrina in terms of impact, it significantly exceeded whats been reported.
— Fadel Gheit
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.
— Fadel Gheit will
Lee Raymond really set the standard for other CEOs in the industry. Everybody else copied Lee Raymond, but you cant duplicate what hes done.
— Fadel Gheit body
Losing the Saudi oil would immediately shock the U.S. economy to the worst level in decades,
— Fadel Gheit sin
maybe sprinkle a few names from refining, marketing, some independent stocks, and energy services stocks.
— Fadel Gheit energy
My expectations were extremely high; we missed big time.
— Fadel Gheit time
I would be very surprised if they dont beat 05 by double digits. Something would have to go dramatically wrong.
— Fadel Gheit drama
Politicians can flip in no time, depending on where the political wind is blowing. The company is concerned and doing the right thing by educating the public.
— Fadel Gheit time
Right now its a squeeze play for oil industry, ... But if they can get by from here to February, I think the coast is clear.
— Fadel Gheit think
Occidental is paying more than double what its own stock is valuing its existing reserves,
— Fadel Gheit
One million barrels is nothing, its like a rounding error, ... One vessel could arrive tomorrow carrying one or two million barrels of crude.
— Fadel Gheit tomorrow
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.
— Fadel Gheit growth
Operationally they exceeded expectations in terms of production; their production volume was up significantly from year ago.
— Fadel Gheit expectations
Our economic dependence on oil is much less than it was even 10 years ago. If inflation comes, it wont be as big a hit as it was in the 80s.
— Fadel Gheit end
Part of the reason (companies are having trouble adding real reserves) is that there has not been an elephant discovery -- one over a billion barrels -- for 15 years.
— Fadel Gheit art
OPEC really cannot extend this period much longer, ... OPEC wants to do what I call a soft landing, by easing supply back into the market slowly and not causing any shocks.
— Fadel Gheit sin
Refining margins across the board obviously cooled off from their all-time high in the third quarter, and obviously that was very clear and expected.
— Fadel Gheit time
Rumors and speculation have taken over the market.
— Fadel Gheit
Oil prices, ... are probably going to go over $26, which will mark the highest level outside the Iraqi invasion of Kuwait in 1990.
— Fadel Gheit will
Oil prices have been exceeding the most bullish forecasts for the past year and a half, and thats not driven by industry fundamentals, but largely by speculation and fears of a potential supply disruption,
— Fadel Gheit fear
Speculators have no reason to scare people with shortages. And you can see this because futures are dropping and prices will continue to drop,
— Fadel Gheit people
Speculators pushed the prices beyond even the most bullish estimates, because they exaggerated (supply shortage fears), but now I think we see the partys over.
— Fadel Gheit fear
The biggest disaster was the lack of information: The refineries - are they up or down? What happened to the platforms?
— Fadel Gheit information
The bulk of the replacement in the last three years was through acquisitions. The easy oil has been discovered.
— Fadel Gheit men
And there is no near-term solution for any of these things.
— Fadel Gheit
Any cooling in economic growth immediately will take oil demand down so one would expect the price will come down.
— Fadel Gheit growth
A rise in oil prices is not good news for the equity market or the economy.
— Fadel Gheit good
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.
— Fadel Gheit power
CNOOC handled it very badly, with poor strategy and poor decision-making. They had the deal almost in their back pocket but they threw it away, insisting Unocal pay Chevron the breakup fee. Either they got bad advice or they didnt take good advice.
— Fadel Gheit advice
Demand continues to be relatively strong. Supply remains tight. And the global economy seems to be doing OK. As they say, no harm, no foul.
— Fadel Gheit man
The more President Bush talks about releasing strategic reserves, the more we understand that weve got no more production to give.
— Fadel Gheit sin
As long as oil prices remain high, oil stocks will continue to outperform the market in general.
— Fadel Gheit will
At the end of the day, people who lose their jobs arent going to go anywhere.
— Fadel Gheit people
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.
— Fadel Gheit world
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 states shadow.
— Fadel Gheit men
BP is more fat. Exxon is all muscle. Exxon stole the thunder this quarter.
— Fadel Gheit art
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.
— Fadel Gheit war
Exxon is a good corporate citizen but it does not work for the welfare of the country.
— Fadel Gheit work
Exxon Mobil should be a core holding for long-term investors seeking superior risk-adjusted return.
— Fadel Gheit risk
Its market perception that moves the market, and the perception is negative,
— Fadel Gheit perception
Its cheaper for companies to buy production and reserves on Wall Street than go drill for it. Its instant gratification.
— Fadel Gheit cat
Its like the guy who won the lottery, and now everybody hates him.
— Fadel Gheit hate
I truly believe that oil prices have been artificially low for so long that were now beginning to pay the real price, ... But if gasoline hits $6 per gallon, I guarantee youll car pool with your next door neighbor, even if he smells.
— Fadel Gheit art
Its a normal pullback after a sharp rise that was driven more by speculation than fundamentals.
— Fadel Gheit men
It was like a very long dream, and were finally waking up. Gasoline by any measure is still very, very inexpensive compared to anywhere.
— Fadel Gheit dream
The surge in oil prices took companies by surprise. They didnt expect the windfall profits and were ill prepared to handle the instant wealth. Its like winning the lottery.
— Fadel Gheit wealth
The speculators are going to have a field day playing with emotion and rumor.
— Fadel Gheit emotion
These stocks are not reflecting $50 or $60 oil. They are probably reflecting $40 oil. But this is not realistic. The fundamentals support a higher price.
— Fadel Gheit men

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