83 Quotes by Daniel Yergin

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.

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.

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.

In a couple of years, the Chinese will be seen as regular participants in international industry. Their companies have to report to shareholders as well as to the Chinese authorities. They need to make money, they have to be efficient.

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

It's extraordinary how inventive one can be with ethanol right now.

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

We experienced similar fears in the 1880s, at the end of World War I and II. And we ran out in the 1970s.

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.