A more relevant description would be a plateau in production capacity that might be reached in the fourth or fifth decade of this century.
More Quotes from 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
A lot of consumers, particularly in New York and other places, are already seeing 3 a gallon. I think the question is will most consumers be seeing 3.50 and 4 At this point it's a real possibility.
Daniel Yergin
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.
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
The starting point for energy security today as it has always been is diversification of supplies and sources.
Daniel Yergin
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.
Daniel Yergin
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