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.
More Quotes from Daniel Yergin:
This further underlies the need for greater diversity of supply and more storage capacity for natural gas. Gas-importing countries will recognize the need to build in buffers.Daniel Yergin
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.
Daniel Yergin
But that's not enough: To maintain energy security, one needs a supply system that provides a buffer against shocks. It needs large, flexible markets. And it's important to acknowledge the fact that the entire energy supply chain needs to be protected.
Daniel Yergin
We are living in a new age of energy supply anxiety.
Daniel Yergin
If a war started, the oil price probably would go up, as you said, maybe $5, $6 a barrel until you saw other oil from the extra supplies that are available elsewhere coming into the world, into the market.
Daniel Yergin
Cycles of shortage and surplus characterize the entire history of oil.
Daniel Yergin
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