Daniel Yergin

(7 votes)   First, we have to find a common vocabulary for energy security. This notion has a radically different meaning for different people. For Americans it is a geopolitical question. For the Europeans right now it is very much focused on the dependence on imported natural gas.

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

Daniel Yergin
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(6 votes)   Within four or five years the US might be getting 10 percent of its gasoline from ethanol - that would be like creating a new Indonesia.

Daniel Yergin
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(5 votes)   This has a lot to do with the unrest in Nigeria, but also with the production loss after the hurricanes in the Gulf of Mexico, the decline in Iraq since the 2003 war, and the decline in Venezuelan output since 2002.

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(11 votes)   I think the producers, for the most part, don't want to see prices skyrocket because that will only create problems for them down the road and would also be a, you know, would be a very serious shock for a world economy that can't afford serious shocks right now.

Daniel Yergin
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(9 votes)   A more relevant description would be a plateau in production capacity that might be reached in the fourth or fifth decade of this century.

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(8 votes)   The bulk of extra supplies that could be put into the market come from two places. One, they come from other Persian Gulf suppliers, of which Saudi Arabia is at the top of the list.

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

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(6 votes)   Clearly, the Chinese need the resources, but I don't think they want to clash with the industrial world which happens to be the market for their goods.

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(6 votes)   Cycles of shortage and surplus characterize the entire history of oil.

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(6 votes)   The North Sea was supposed to run out in the 1980s. Then in the 1990s. And now production is still on-line.

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(6 votes)   The other are the strategic, so-called strategic stocks that the United States and the other Western industrial countries have, which could put in as much as four million barrels a day of oil into the market pretty quickly.

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(5 votes)   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.

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(5 votes)   The starting point for energy security today as it has always been is diversification of supplies and sources.

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(5 votes)   We are living in a different world now. You can see it everywhere in international relations: It was noteworthy that, after his visit to Washington, the Chinese president's next stop was Saudi Arabia.

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