Daniel Yergin Oil Quotations

But eventually it's a question of access: Getting access to fields is on top of the oil companies' agenda. We see a substantial build-up of supply occurring over the coming years.

Cycles of shortage and surplus characterize the entire history of oil.

But the key thing is that Iraq, while it's got very large oil reserves, has marginalized itself as an oil exporter and these days its exports are only about one tenth that of neighboring Saudi Arabia.

The Russians are turning east to the Chinese - to the Europeans' surprise. It always seemed to me that the relationship between Russia and China would shift from being based in Marx and Lenin to being based in oil and gas.

A premium in the oil price of somewhere between 10 to 15 dollars a barrel reflects this heightened anxiety.

If they don't ease more oil into the market over the next six weeks, we could see prices spike a good deal higher than they are now.

Fourteen months ago, oil seemed to be in a bull market ? then Asia collapsed, ... This is basically a gross domestic product crisis driven by Asia, so the real prospects are whether you think Asia by the year 2000 will start showing signs of recovery.

I think we've seen a change in the mentality of the senior management of the oil industry over the last few months,

rising crude oil prices, low fuel inventories, strong summer driving season demand and an environmentally driven transition to new gasoline specifications are combining to keep upward pressure on pump prices.

The world has produced about 1 trillion barrels of oil since the start of the industry in the nineteenth century. Currently, it is thought that there are at least 5 trillion barrels of petroleum resources, of which 1.4 trillion is sufficiently developed and technically and economically accessible.

According to one study by the United States Geological survey, 86 percent of oil reserves in the United States are the result not of what is estimated at the time of discovery but of the revisions and additions that come with further development.

The Iranians know they hold high cards because of oil.

In a world of increasing interdependence, energy security will depend much on how countries manage their relations with one another. That is why energy security will be one of the main challenges of foreign policy in the years ahead. Oil and gas have always been political commodities.

There are ample supplies beneath the surface of the planet to have significant growth in oil supply for quite a number of years. The technology is there, the resources are there. But the real question is what happens above ground.

Ethanol is mandating additional diversity to the pool of motor fuels. The definition of oil is being widened.

This is not the first time that the world has 'run out of oil. It's more like the fifth. Cycles of shortage and surplus characterize the entire history of the oil industry.

The world oil market is in the grip of a slow-motion supply shock, in which a $70 to $75 barrel price reflects an aggregate disruption of over 2 million barrels a day.

The world oil market is in the grip of a slow motion supply shock.

All the tensions and stress in the world's oil markets are flowing into the gasoline pump. The crude oil market is very tight, and a market that's this tight is vulnerable to politics, to hurricanes, to strikes and to emotions, and that's what we're seeing.

The last time before this time was in the 1970s, when people thought we were going to fall off the oil mountain and live in an age of permanent shortage. Since then, world supplies have increased 60 percent. I don't see why we're at the end of technology now, or why it would be finished now.