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.
More Quotes from 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
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.
Daniel Yergin
This is the fifth time that we're supposedly running out of oil,
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.
Daniel Yergin
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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