Gas prices are clearly reaching a level where it's a political problem for people, ... unless you empty the reserve, it is a very temporary expedient. It does not affect the basic supply-and-demand problem.
More Quotes from Daniel Yergin:
The North Sea was supposed to run out in the 1980s. Then in the 1990s. And now production is still on-line.Daniel Yergin
A more relevant description would be a plateau in production capacity that might be reached in the fourth or fifth decade of this century.
Daniel Yergin
Whereas they used to have a higher price range, say 17 to 21 a barrel, now people say prices could be at 11, 12, 15 for a long time, or at least you can't bet your company that they are going to be higher, and that has led to this powerful motive to merge as the next stage of getting your costs under control and spreading them out over a larger base.
Daniel Yergin
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.
Daniel Yergin
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.
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
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States are like people. They do not question the awful status quo until some dramatic event overturns the conventional and lax way of thinking.
Victor Davis Hanson
If ignorant both of your enemy and yourself, you are certain to be in peril.
Sun Tzu
Well, number one I like dancing. Number two I knew it would be challenging because I had never done this type of dance before. I always wanted to and I happened to have the courage to go out there and give it my best shot.
Evander Holyfield