Arabia Quote by Fatih Birol
“If production does not increase in Iraq in an exponential way between now and 2015, we have a very big problem, even if Saudi Arabia meets its obligations. The figures are very simple, you do not need to be an expert. It is enough to know how to do a subtraction. China will grow very quickly, India also, and even Saudi Arabia projections of the 3 Mb/day will not be enough to meet the rise of Chinese demand.”
About This Quote
Source Speech: Energy Outlook, 2014, International Energy Agency
If oil production in Iraq doesn't grow exponentially, global demand, especially from China, will outpace supply, causing major issues.
In simple terms: Insufficient Iraqi oil will cause supply problems.
Key Takeaway
Monitor and diversify energy sources.
Themes
energy
geopolitics
economics
Mood
analytical
concerned
Type
forecast
policy
When to use this quote
- policy planning
- investment decisions
- energy security
Key Concepts
supply demand
exponential growth
resource scarcity
Questions to Reflect On
- What alternatives exist for meeting demand?
- How can other regions mitigate shortfalls?
A Different Perspective
Assumes linear growth patterns may not hold.
![“We're defending Saudi Arabia? And with all of the money they have, we're defending them, and they're not paying? All you have to do is speak to them. Wait. You have so many different things you have to be able to do, and I don't believe that Hillary [Clinton] has the stamina.” quote by Donald Trump](https://sms4smile.com/quotes/img-quotes/0a5/donald-trump-18_able_we-re-defending-saudi-arabia-and-with-al_72517.jpg)
