There have been serious discussions by politicians from both parties about pushing for windfall profit tax. That's what has the industry terrified.
More Quotes from Fadel Gheit:
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.Fadel Gheit
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
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.
Fadel Gheit
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.
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
A rise in oil prices is not good news for the equity market or the economy.
Fadel Gheit
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