“In the 1920s, he decided that it was cheaper to drill for oil than to buy the overvalued shares of other oil companies. After the 1929 stock market crash, he completely changed tack; he saw that oil shares were selling… — Daniel Yergin Copy Share Image
Cycles of shortage and surplus characterize the entire history of oil. — Daniel Yergin Copy Share Image
First, we have to find a common vocabulary for energy security. This notion has a radically different meaning for different people. For Americans it… — Daniel Yergin Copy Share Image
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… — Daniel Yergin Copy Share Image
“A man is a business failure if he lets his family life interfere with his business record,” — Daniel Yergin Copy Share Image
If a war started, the oil price probably would go up, as you said, maybe $5, $6 a barrel until you saw other oil… — Daniel Yergin Copy Share Image
But that's not enough: To maintain energy security, one needs a supply system that provides a buffer against shocks. It needs large, flexible markets.… — Daniel Yergin Copy Share Image
“It was very handy to have such a foreign scapegoat when so much was wrong at home.1” — Daniel Yergin Copy Share Image
But eventually it's a question of access: Getting access to fields is on top of the oil companies' agenda. We see a substantial build-up… — Daniel Yergin Copy Share Image
An important United Nations environmental conference went past 6:00 in the evening when the interpreters' contracted working conditions said they could leave. They left, abandoning the delegates unable to talk to each other in their native languages. The French head of the committee, who had insisted on speaking only in French throughout the week suddenly demonstrated the ability to speak… — Daniel Yergin Copy Share
The bulk of extra supplies that could be put into the market come from two places. One, they come from other Persian Gulf suppliers,… — Daniel Yergin Copy Share Image
The world has produced about 1 trillion barrels of oil since the start of the industry in the nineteenth century. Currently, it is thought… — Daniel Yergin Copy Share Image
