Daniel Yergin Technology Quotations

People always underestimate the impact of technology. To give you an example: In the 1970s the frontier for offshore development was 200 meters, today it is 4,000 meters.

So the major obstacle to the development of new supplies is not geology but what happens above ground: international affairs, politics, investment and technology.

Even Silicon Valley investors have put well over a $1 billion in new energy technologies.

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.

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.