This further underlines the need for greater diversity of supply and more storage capacity for natural gas.
More Quotes from 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
A premium in the oil price of somewhere between 10 to 15 dollars a barrel reflects this heightened anxiety.
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
This is the fifth time that we're supposedly running out of oil,
Daniel Yergin
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.
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
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