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Authors:
Daniel Yergin Quotes

Daniel Yergin quotes

American Author February 6, 1947

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Quotes

So the major obstacle to the development of new supplies is not geology but what happens above ground: international affairs, politics, investment and technology. Daniel Yergin
First, we have to find a common vocabulary for energy security. This notion has a radically different meaning for different people. For Americans it is a geopolitical question. For the Europeans right now it is very much focused on the dependence on imported natural gas. 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
Clearly, the Chinese need the resources, but I don't think they want to clash with the industrial world which happens to be the market for their goods. 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
Daniel Yergin quote: "The North Sea was supposed to run out in the 1980s. Then in..."
The North Sea was supposed to run out in the 1980s. Then in the 1990s. And now production is still on-line. Daniel Yergin
Daniel Yergin quote: "We are living in a new age of energy supply anxiety."
We are living in a new age of energy supply anxiety. 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
Daniel Yergin quote: "A premium in the oil price of somewhere between 10 to 15..."
A premium in the oil price of somewhere between 10 to 15 dollars a barrel reflects this heightened anxiety. Daniel Yergin
Daniel Yergin quote: "We experienced similar fears in the 1880s, at the end of World..."
We experienced similar fears in the 1880s, at the end of World War I and II. And we ran out in the 1970s. 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
Daniel Yergin quote: "Even Silicon Valley investors have put well over a $1 billion..."
Even Silicon Valley investors have put well over a $1 billion in new energy technologies. 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
Daniel Yergin quote: "The starting point for energy security today as it has always..."
The starting point for energy security today as it has always been is diversification of supplies and sources. 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

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