Lee Raymond really set the standard for other CEOs in the industry. Everybody else copied Lee Raymond, but you can't duplicate what he's done.
More Quotes from Fadel Gheit:
This is an industry in crisis. Every oil company will reduce their production forecast as lower spending will immediately be followed by lower production and lower reserve replacement.Fadel Gheit
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
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.
Fadel Gheit
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.
Fadel Gheit
We are only scratching the surface. In my view, this company is hitting on all cylinders.
Fadel Gheit
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
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