We think things are heading back into a normal range.
Steven Pfeifer
The political volatility has added a -to- per barrel war premium to the price of crude. That will stay in the price as long as we have hostilities in the Middle East. If we settle [the Israeli/Arab conflict], that could take some out of the price, but there will still be some added for [potential action in] Iraq.
action war political iraq price
things normal
I think this is a positive development for both the companies and the industry. The companies are now moving together, looking at a difficult environment for refining and marketing and coming up with proactive ways to combine their entities and hopefully improve their profitability.
environment positive moving development marketing difficult industry
While Exxon shares initially fell by 4.5 percent on Dec. 1, 1998, in reaction to the merger, Exxon shares subsequently advanced 23 percent through Oct. 16, 2000, outpacing a 17-percent average advance for the major oils and a 17-percent advance for the S
reaction
Chavez is a very strong proponent of OPEC and OPEC policies, so we will have a very united OPEC with Chavez in power.
power strong
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