“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.”
“I would say we'll probably see $70 (a barrel) again before we see $50 or $55 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.”
“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.”
“Oil companies can see the winds have shifted even with Republicans in control of Congress. The White House is reeling. All of a sudden the industry does not have the strong backing it had six months ago.”
