--- title: "Meaning & Key Takeaway of: There is enough oil out there for world…" description: "\"There is enough oil out there for world demand. It is true that a lot of what's driving oil prices up right now is not the lack of supply. There's enou..." image: "https://sms4smile.com/quotes/i/9f0/barack-obama-17_climate_there-is-enough-oil-out-there-for-world_2668101.jpg" --- # There is enough oil out there for world demand. It is true… ![“There is enough oil out there for world demand. It is true that a lot of what's driving oil prices up right now is not the lack of supply. There's enough supply.” quote by Barack Obama](https://sms4smile.com/quotes/i/9f0/barack-obama-17_climate_there-is-enough-oil-out-there-for-world_2668101.jpg) [Download](https://sms4smile.com/quotes/i/9f0/barack-obama-17_climate_there-is-enough-oil-out-there-for-world_2668101.jpg) [Open image](https://sms4smile.com/quotes/i/9f0/barack-obama-17_climate_there-is-enough-oil-out-there-for-world_2668101.jpg) > “There is enough oil out there for world demand. It is true that a lot of what's driving oil prices up right now is not the lack of supply. There's enough supply.” [Barack Obama](https://sms4smile.com/quotes/author/barack-obama/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Abundant oil reserves mean current price spikes are driven by factors other than scarcity, such as geopolitics and market speculation. **In simple terms:** Oil is plentiful; prices rise for other reasons. Key Takeaway Consider market dynamics beyond supply. Themes energy economics geopolitics markets Mood concerned analytical Type informative policy When to use this quote - policy analysis - investment decisions - risk assessment - energy planning Key Concepts supply-demand balance price volatility global trade Questions to Reflect On - How do geopolitical events affect oil prices? - What alternative energy strategies can mitigate price volatility? A Different Perspective Supply constraints still exist in specific regions and for certain grades. ★ ★ ★ ★ ★ No ratings yet [Climate](https://sms4smile.com/quotes/about/climate/) [Demand](https://sms4smile.com/quotes/about/demand/) [Driving](https://sms4smile.com/quotes/about/driving/) [Oil price](https://sms4smile.com/quotes/about/oil-price/) [Oil prices](https://sms4smile.com/quotes/about/oil-prices/) [World](https://sms4smile.com/quotes/about/world/) ## Related quotes > [Let us rid ourselves of the fiction that low oil prices are somehow good for the United States.](https://sms4smile.com/quotes/dick-cheney/let-us-rid-ourselves-of-the-fiction-that-low-oil-prices-are-somehow/) [Dick Cheney](https://sms4smile.com/quotes/author/dick-cheney/) > [We're in a world of triple-digit oil prices for the foreseeable future,](https://sms4smile.com/quotes/jeff-rubin/we-re-in-a-world-of-triple-digit-oil-prices-for-the-foreseeable-future/) [Jeff Rubin](https://sms4smile.com/quotes/author/jeff-rubin/) > [The significant collapse of oil prices shows that it was previously way too high.](https://sms4smile.com/quotes/wolfgang-schauble/the-significant-collapse-of-oil-prices-shows-that-it-was-previously/) [Wolfgang Schauble](https://sms4smile.com/quotes/author/wolfgang-schauble/) > [Oil prices jumped to well over $100 a barrel, and analysts say it's due to tension in the Middle East. So, luckily, it's just…](https://sms4smile.com/quotes/jay-leno/oil-prices-jumped-to-well-over-100-a-barrel-and-analysts-say-it-s-due/) [Jay Leno](https://sms4smile.com/quotes/author/jay-leno/) > [Lower oil prices won't, by themselves, topple the mullahs in Iran. But it's significant that, historically, when oil prices have been low, Iranian reformers…](https://sms4smile.com/quotes/james-surowiecki/lower-oil-prices-won-t-by-themselves-topple-the-mullahs-in-iran-but/) [James Surowiecki](https://sms4smile.com/quotes/author/james-surowiecki/) > [Think about the difference between how your local gas station and congressman respond to a spike in oil prices. 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How do we exercise more empathy in our public discourse? How do we… ](https://sms4smile.com/quotes/barack-obama/that-is-another-theme-in-the-book-dreams-from-my-father-how-do-we/) [Barack Obama](https://sms4smile.com/quotes/author/barack-obama/) > [I can say across Europe that many principles that have been taken for granted here around free speech, and around civil liberties and an…](https://sms4smile.com/quotes/barack-obama/i-can-say-across-europe-that-many-principles-that-have-been-taken-for/) [Barack Obama](https://sms4smile.com/quotes/author/barack-obama/) > [So Americans understand the costs of war. Yet as a country, we will never tolerate our security being threatened, nor stand idly by when…](https://sms4smile.com/quotes/barack-obama/so-americans-understand-the-costs-of-war-yet-as-a-country-we-will/) [Barack Obama](https://sms4smile.com/quotes/author/barack-obama/) > [I want to thank the Greek people publicly for their humanitarian response to the crisis of so many migrants and refugees seeking safety in…](https://sms4smile.com/quotes/barack-obama/i-want-to-thank-the-greek-people-publicly-for-their-humanitarian/) [Barack Obama](https://sms4smile.com/quotes/author/barack-obama/) > [We had a farewell dinner for some of my senior staff, and generally everybody likes to talk about how cool I was.](https://sms4smile.com/quotes/barack-obama/we-had-a-farewell-dinner-for-some-of-my-senior-staff-and-generally/) [Barack Obama](https://sms4smile.com/quotes/author/barack-obama/) > [ It's good to get fresh legs in \[the White house\]. I think that it refreshes our democracy. ](https://sms4smile.com/quotes/barack-obama/it-s-good-to-get-fresh-legs-in-the-white-house-i-think-that-it/) [Barack Obama](https://sms4smile.com/quotes/author/barack-obama/) > [Believe it or not, entertainment is part of our American diplomacy, it is part of what makes us exceptional, part of what makes us…](https://sms4smile.com/quotes/barack-obama/believe-it-or-not-entertainment-is-part-of-our-american-diplomacy-it/) [Barack Obama](https://sms4smile.com/quotes/author/barack-obama/) [Explore all 3,624 Barack Obama quotes ](https://sms4smile.com/quotes/author/barack-obama/) ## More Climate quotes > [Irish research will contribute to global progress and have the potential to help all countries realise the potential of their land sectors in addressing…](https://sms4smile.com/quotes/enda-kenny/irish-research-will-contribute-to-global-progress-and-have-the/) [Enda Kenny](https://sms4smile.com/quotes/author/enda-kenny/) > [In the current climate, things that are true, brave human stories become political.](https://sms4smile.com/quotes/cate-blanchett/in-the-current-climate-things-that-are-true-brave-human-stories/) [Cate Blanchett](https://sms4smile.com/quotes/author/cate-blanchett/) > [Windmills and solar cells are carbon-free sources of electricity. But they are costly. If you've been investing in those, give it up. That game…](https://sms4smile.com/quotes/kenneth-fisher/windmills-and-solar-cells-are-carbon-free-sources-of-electricity-but/) [Kenneth Fisher](https://sms4smile.com/quotes/author/kenneth-fisher/) > [Society understands the architecture of academia and knows there are relevant qualifications in different fields, and the media accepts the idea of specialisations and…](https://sms4smile.com/quotes/jay-griffiths/society-understands-the-architecture-of-academia-and-knows-there-are/) [Jay Griffiths](https://sms4smile.com/quotes/author/jay-griffiths/) > [There are many more traits that the climate deniers share with the creationists and Holocaust deniers and others who distort the truth.](https://sms4smile.com/quotes/donald-r-prothero/there-are-many-more-traits-that-the-climate-deniers-share-with-the/) [Donald R. Prothero](https://sms4smile.com/quotes/author/donald-r-prothero/) > [Some would call me an environmentalist. I don't know why. I reuse the water that falls in my backyard in the winter. I reuse…](https://sms4smile.com/quotes/ed-begley-jr/some-would-call-me-an-environmentalist-i-don-t-know-why-i-reuse-the/) [Ed Begley, Jr](https://sms4smile.com/quotes/author/ed-begley-jr/) > [I talk to fashion designers and say I want some money to save the rainforest, and they say, 'Oh, I agree with you completely…](https://sms4smile.com/quotes/vivienne-westwood/i-talk-to-fashion-designers-and-say-i-want-some-money-to-save-the/) [Vivienne Westwood](https://sms4smile.com/quotes/author/vivienne-westwood/) > [Assuming normal winter weather, we currently anticipate the coal markets to remain difficult through 2015; while we always strive to operate a full capacity…](https://sms4smile.com/quotes/joe-craft/assuming-normal-winter-weather-we-currently-anticipate-the-coal/) [Joe Craft](https://sms4smile.com/quotes/author/joe-craft/) > [Climate change poses clear, catastrophic threats. We may not agree on the extent, but we certainly can't afford the risk of inaction.](https://sms4smile.com/quotes/rupert-murdoch/climate-change-poses-clear-catastrophic-threats-we-may-not-agree-on/) [Rupert Murdoch](https://sms4smile.com/quotes/author/rupert-murdoch/) > [Fossil fuels, including oil, are running out and supplies are getting harder to find. If we do nothing, prices will continue to rise and…](https://sms4smile.com/quotes/lucy-powell/fossil-fuels-including-oil-are-running-out-and-supplies-are-getting/) [Lucy Powell](https://sms4smile.com/quotes/author/lucy-powell/) > [Local and state governments have outrun the federal government. The EPA has served notice that it will enact a rule requiring CO2 reductions by…](https://sms4smile.com/quotes/al-gore/local-and-state-governments-have-outrun-the-federal-government-the/) [Al Gore](https://sms4smile.com/quotes/author/al-gore/) > [I am sympathetic to developing countries’ concerns: because of our emissions it’s their crops that will disappear; because of our inaction, it’s their fields…](https://sms4smile.com/quotes/john-f-kerry/i-am-sympathetic-to-developing-countries-concerns-because-of-our/) [John F. Kerry](https://sms4smile.com/quotes/author/john-f-kerry/) > [We live in a state with a wonderful climate and plenty of natural beauty, from the shores of Cumberland Island to the Chattahoochee River…](https://sms4smile.com/quotes/roy-barnes/we-live-in-a-state-with-a-wonderful-climate-and-plenty-of-natural/) [Roy Barnes](https://sms4smile.com/quotes/author/roy-barnes/) > [Right now, the government is spending billions of dollars supporting the problem-makers in the U.S. economy - the polluters, despoilers, incarcerators, and warmongers.](https://sms4smile.com/quotes/van-jones/right-now-the-government-is-spending-billions-of-dollars-supporting/) [Van Jones](https://sms4smile.com/quotes/author/van-jones/) > [All of the barriers to innovation in the energy sector are arguments for a big commitment to public investment. 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