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.
Fadel Gheit
This rally is the perfect storm. It's surreal, it's like watching a movie.
perfect storm movie surreal
And there is no near-term solution for any of these things.
solution things
Oil companies can see the winds have shifted even with Republicans in control of Congress
control republicans congress oil
Right now it's a squeeze play for oil industry,.. But if they can get by from here to February, I think the coast is clear.
play industry oil
It's like the guy who won the lottery, and now everybody hates him.
guy
lost company greater
I would say we'll probably see 0 (a barrel) again before we see 0 or 5 even. When the dust settles, we'll see that while Rita did not match Katrina in terms of impact, it significantly exceeded what's been reported.
impact dust
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.
company crisis industry oil
We're already seeing some companies yielding to pressure. But everybody is waiting for the big lady to sing, which is Exxon.
pressure waiting sing lady big
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