Unless (energy) prices collapse, earnings in 2006 will make 2005 look like a cake walk.
More Quotes from Fadel Gheit:
This is evidence that we really don't have to worry about shortages.Fadel Gheit
BP is more fat. Exxon is all muscle. Exxon stole the thunder this quarter.
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We could see the market getting tight in the event that we have a really cold winter.
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The infrastructure was already strained before the hurricane. The hurricane has made a bad situation worse.
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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.
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Traders are using the conflict to push prices higher. Everybody now is hiding behind the umbrella of the Iran nuclear stalemate, but we have to remind ourselves that Iran cannot afford to stop its shipment of oil.
Fadel Gheit
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