Fadel Gheit
Fadel Gheit
adding barrels billion discovery elephant reason trouble
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.
additional barrels cost currently disposable eating income inflated million oil people prices tax uses
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,
barrels cutting demand million oil per warm weather
The warm weather in the U.S. may be cutting demand for oil by 1 million barrels per day.
arrive barrels carrying million tomorrow vessel
One million barrels is nothing, it's like a rounding error, ... One vessel could arrive tomorrow carrying one or two million barrels of crude.
compared finally gasoline measure waking
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.
economies global matter walking whether
The U.S. and global economies are like the walking wounded, ... It's not a matter of whether they will fall, but of when.
bulk easy last oil three
The bulk of the replacement in the last three years was through acquisitions. The easy oil has been discovered.
maintain
All they want to do is maintain the same speed.
exceeded production terms volume year
Operationally they exceeded expectations in terms of production; their production volume was up significantly from year ago.
betting dent energy future investors meaningful ranch sources unlikely
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.
cooling demand economic expect growth oil price
Any cooling in economic growth immediately will take oil demand down so one would expect the price will come down.
alter expecting exporting hussein iraq lift panicked people position pressure producing pull saddam sanctions stop stopped supply threatened traders trick trying weeks
A lot of people were expecting that Saddam Hussein would pull a trick before year-end because he was trying to put pressure on the U.N. to lift sanctions or try to alter the position of the sanction, so he threatened two weeks ago to stop exporting oil, ... The traders panicked in anticipation of a supply shortage, but Iraq never stopped producing oil.
buying money throwing totally unpopular
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.
damage hurricane rita
The damage from Hurricane Rita has been significantly under-reported.