The last time before this time was in the 1970s, when people thought we were going to fall off the oil mountain and live in an age of permanent shortage. Since then, world supplies have increased 60 percent. I don't see why we're at the end of technology now, or why it would be finished now.
More Quotes from Daniel Yergin:
This further underlines the need for greater diversity of supply and more storage capacity for natural gas.Daniel Yergin
But look at Angola The Chinese spent a lot of money to get in there, but they are among many other companies. It is a much bigger game.
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
The other are the strategic, so-called strategic stocks that the United States and the other Western industrial countries have, which could put in as much as four million barrels a day of oil into the market pretty quickly.
Daniel Yergin
This is not the first time that the world has 'run out of oil. It's more like the fifth. Cycles of shortage and surplus characterize the entire history of the oil industry.
Daniel Yergin
But the key thing is that Iraq, while it's got very large oil reserves, has marginalized itself as an oil exporter and these days its exports are only about one tenth that of neighboring Saudi Arabia.
Daniel Yergin
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