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.
More Quotes from Daniel Yergin:
Even Silicon Valley investors have put well over a $1 billion in new energy technologies.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
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
This is the fifth time that we're supposedly running out of oil,
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
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Based on Topics: War & Peace QuotesBased on Keywords: hurricanes, nigeria, unrest, venezuelan
It is good to rub and polish our brain against that of others.
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