""Don't get me wrong we're still printing money at $90, but gas gets up over $3.50 a gallon, it starts to pinch.""
""There is a kind of a sweet spot for the oil price, a nice range for it to be in from the industry's perspective.""
""The current crisis isn't just a cash bonanza for the oil industry. It's also a cause for industry concern.""
""ExxonMobil estimates higher prices have boosted its revenues by more than $2 billion.""
Crude oil prices surged from around $70 to nearly $120 due to the war in Iran, currently stabilizing between $90 and $100. Analysts predict prolonged high prices due to supply disruptions. The oil industry prefers prices between $60 and $90, as higher prices lead to consumer strain. ExxonMobil estimates a revenue boost of over $2 billion from higher prices. Energy stocks have risen 25% this year, indicating industry profitability despite potential consumer backlash and market volatility.
Read at www.npr.org
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