Without a shadow of a doubt, Exxon has the best management in the oil industry. They've been riding the momentum of higher prices for some time now, and they've got a pipeline of new opportunities that promises volume growth.

I don't think $65 oil is sustainable in the long term. There will be a reaction from either the supply or demand side.

There is no longer a shadow of doubt that the U.S. economy is downshifting rapidly; the only question is how deep the slowdown goes, ... We do not expect to see recession in 2001, but we certainly expect to see significantly slower growth with continued moderating inflation.

The price must go up to foot the bill of the new power stations. Without a shadow of a doubt electricity tariffs will increase.

The dynamic shifted this year. There was a growing perception that supply was running out. The doomsday scenario that stated OPEC couldn't meet demand and the Saudis wouldn't be able to increase output gained traction.

Evacuations have already started, which is going to disrupt production. Any storm going through the Gulf is going to slow the pace of the recovery from Katrina.