Bruce Lanni Quotes (9 Quotes)

There's concern that Iraq knows it's in a position that if it pulls its production off the market it would have significant implications on moving oil prices sharply higher.

Production growth for most companies has been very elusive or nonexistent. Keeping it flat is a major feat.

When you start polling the world for where major oil companies can do business, you have West Africa, Russia, the Middle East and Latin America. What they all share is that they're becoming more and more difficult operating environments.

We don't think oil prices are going to rebound sharply. I think the deal that Mobil's doing is suggesting just that. I think most companies are hunkering down and they expect that prices are going to remain low for the next possibly one to three years. In this event, you may start to see more mergers occur.

It's a fabulously run company.

Both those companies are probably going to have to make some moves. One of them is going to be an acquirer and one's going to be acquired.

In a perfect world, you'd take the premium out, and you're looking at an oil price in the lower- to mid-30s. But it is not a perfect world.

There's significant upside for the entire sector. The earnings potential will be huge going into next year. They'll be able to pay down a significant part of debt, buy back stock.

BP is a very upstanding company and they make every effort to insure safety. It's a very dangerous operation. You're dealing with a lot of volatile materials.