“We are still in the soap-opera phase where everyone is still wondering what is going on. The next 24 to 48 hours, as the companies get out to see if there has been any damage, are really going to determine how significant this is.”
“No news is bad news. Only 10 to 15 percent of (Gulf of Mexico) shut-in production is associated with permanent damage, so majority appears stuck behind infrastructure.”
“That's important because if you shut them down according to a plan, then you can bring them back faster than if you do an emergency shut down. We are learning a little bit from Katrina. We are more prepared.”
“There is no doubt that if Iraq torches oil wells there will be a huge amount of business for these companies. But this is a very speculative investment.”
