The damage from Hurricane Rita has been significantly under-reported.

The surge in oil prices took companies by surprise. They didn’t expect the windfall profits and were ill prepared to handle the instant wealth. It’s like winning the lottery.

Oil prices, … are probably going to go over $26, which will mark the highest level outside the Iraqi invasion of Kuwait in 1990.

Our economic dependence on oil is much less than it was even 10 years ago. If inflation comes, it won’t be as big a hit as it was in the ’80s.

Crude prices reflect a $20 fear premium.

I will say it will bring gasoline prices down substantially within two to three weeks. I would say by 20 cents at least or even more.

And there is no near-term solution for any of these things.

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...

This rally is the perfect storm. It’s surreal, it’s like watching a movie.

We are entering the lowest demand period of the year sitting on huge levels of inventories.

We are only scratching the surface. In my view, this company is hitting on all cylinders.

Basically, it was a great period for traders – some of them made a lot of money and some of them lost a lot of money.

We could say we were releasing oil to drive prices down until they get to $25 a barrel, … Then OPEC could say it’ll cut production to keep prices up. It’s a very delicate subject...

Barring any serious supply disruption, there is plenty of oil and prices could drop if the weather stays warm. But we have tremendous speculation in the markets driving prices, so there is no way to...

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...

I guarantee $3-a- gallon gas all over the country if we have any supply disruption anywhere in the Middle East.

have to be very focused here.

Because the temperatures are rising as high as 60 degrees in (some parts of the region), the expectation is that weekly inventory data will show an increase to reflect less consumption.

As long as oil prices remain high, oil stocks will continue to outperform the market in general.

We think they’re going to do a huge, huge second quarter. They’re printing money, basically.

The volume of lost production will be significantly greater than that lost under Ivan. Not one company that was affected has been able to restore its production 100 percent.

It’s like the guy who won the lottery, and now everybody hates him.

We have to remember here that almost 25 per cent of our refining capacity is concentrated within a 15 to 20 mile radius from the Houston area, so any impact could be substantial,

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...

Unless (energy) prices collapse, earnings in 2006 will make 2005 look like a cake walk.

The biggest disaster was the lack of information: The refineries – are they up or down? What happened to the platforms?

We could suddenly have oversupply and weaker demand, and that will probably bring oil prices down on their own,

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...

BP is more fat. Exxon is all muscle. Exxon stole the thunder this quarter.

The bulk of the replacement in the last three years was through acquisitions. The easy oil has been discovered.

It’s market perception that moves the market, and the perception is negative,

There is speculation that Texaco would be the next takeover target, but on fundamentals, Texaco is a very cheap stock, very high leverage to both oil prices and gas prices and both moving higher,

I do believe we are in an oil price bubble. It will eventually burst. The question is not if but when.

Record oil prices, what else?

We could see the market getting tight in the event that we have a really cold winter.

They may not be just forming an alliance but instead merging where they won’t have different mindsets but a single set of goals,

The Exxon Mobil chairman just said at a conference today that oil prices are basically reflecting the global political climate more than supply and demand fundamentals.

Speculators pushed the prices beyond even the most bullish estimates, because they exaggerated (supply shortage fears), but now I think we see the party’s over.

It’s a normal pullback after a sharp rise that was driven more by speculation than fundamentals.

There isn’t enough spare refining capacity around to offset these unpredictable events, … We were stretched before the hurricane; the hurricane made a bad situation worse.

The market always overreacts. That’s the nature of the beast. There’s tremendous speculation both on the way up and on the way down,

Until and unless the stalemate with Iran is resolved one way or the other, I think we’re going to see prices higher.

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.

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...

We might see some reflection on crude prices as well as gasoline prices going forward, but not by much. I hope that people do not have high hopes for much lower crude prices or gasoline...

One million barrels is nothing, it’s like a rounding error, … One vessel could arrive tomorrow carrying one or two million barrels of crude.

There is no reason for the prices to fall when people are obsessed with the possibility of supply disruptions and the fact that prices are not slowing demand.

Their margins are extremely strong.

The companies will have to work hard to earn their performance. They are not going to get a free ride on the back of rising oil and gas prices, which are likely to be flat....

OPEC really cannot extend this period much longer, … OPEC wants to do what I call a soft landing, by easing supply back into the market slowly and not causing any shocks.