It has become cheaper to look for oil on the floor of the New York Stock Exchange than in the ground.
Sentiment: NEGATIVE
If you think Wall Street firms have it good, you haven't looked closely at Big Oil.
Oil is ancient wealth in the ground.
I don't think we're going to see the price of oil going down in the near future, that's the reality.
If you opened up every single potential drilling opportunity in the United States, it would have the effect of lowering gas prices three cents, maybe. And that's because, of course, oil is traded on a global market.
We need a reasonable price where producers will not start nagging. At a reasonable price, we can invest to produce more oil.
The one thing people seem to forget is the more oil we have, the lower the price and the lower the profits the oil companies make.
We have to get the oil where the oil is.
The oil market is especially sensitive even to a hint of expansion or contraction in supply.
The other are the strategic, so-called strategic stocks that the United States and the other Western industrial countries have, which could put in as much as four million barrels a day of oil into the market pretty quickly.
There is no free market for oil. It's controlled by a cartel, OPEC.
No opposing quotes found.