How much champagne do think the oil companies' execs have had

[sinkingfeeling]

in the last 48 hours?

[classof56]

1. I'm thinking several gallons worth--and wanta bet it's French champagne?

Hypocritical, greedy bastards!!

Tired Old Cynic

[ArkDem]

2. That is a wussy drink. I'll bet they are all single malt scotch

drinkers.

[nadinbrzezinski]

3. Actually not much

the damasge to the faciltiies is not clear yet, but probably extensive.

So yes they are getting money at the pump but for once Exxon will have a use for all them moneys they knew not how to spend.

The damage to the US economy will be extensive, can you say Depresion? I knew yuo could... for reference the 1926 Miami Hurricane broght the Depresion to that area of the country three eyars ahead of schedule

[brentspeak]

5. The oil companies will likely receive federal monies to repair

any facilities.

But then again, they've already been receiving federal monies through the nose.

[brentspeak]

4. These people can afford to bathe in fine champagne

I agree that all looters of non-essential items should be treated harshly -- so that should include the oil company execs.

[gmoney]

6. Let the profiteering begin...

When they're profitable, it's great management... when something like this happens, it's a "natural disaster" and they'll need to (A) price gouge and (B) ask for federal money for a bailout and (C) ask for even more tax cuts.

Oil companies are like insurance companies -- they game the system so that no matter HOW bad they are hit, they still make out like bandits.

[eallen]

7. Do you really think they think that way?

What about those of us who merely hold stock in oil companies? I've been investing in energy since oil was at $30/bbl, because I thought it was pretty damn obvious that the world supply and demand outlook was changing. The run-up from there to $65/bbl has caused those investments to do pretty well. Do you think I then jumped for joy because Katrina has caused another $3/bbl jump? Or do you think I've been crying for the destruction of a city?

Katrina's impact on the price of oil is temporary. Maybe some traders are excited, who went long when the metereologists were forecasting Katrina to spin into Appalichicola as a bare hurricane, and jumped out yesterday. I doubt the executives who run oil companies care much about a temporary spike during September.

My two cents.