Quotes from 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.

We are living in a new age of energy supply anxiety.

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 of supply occurring over the coming years.

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. And it's important to acknowledge the fact that the entire energy supply chain needs to be protected.

The North Sea was supposed to run out in the 1980s. Then in the 1990s. And now production is still on-line.

Cycles of shortage and surplus characterize the entire history of oil.

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.

So the major obstacle to the development of new supplies is not geology but what happens above ground: international affairs, politics, investment and technology.

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.

Even Silicon Valley investors have put well over a $1 billion in new energy technologies.

The starting point for energy security today as it has always been is diversification of supplies and sources.

The bulk of extra supplies that could be put into the market come from two places. One, they come from other Persian Gulf suppliers, of which Saudi Arabia is at the top of the list.

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.

It's extraordinary how inventive one can be with ethanol right now.

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.

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.

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.

We experienced similiar fears in the 1880s, at the end of World War I and II. And we ran out in the 1970s.

A premium in the oil price of somewhere between 10 to 15 dollars a barrel reflects this heightened anxiety.

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.

As they grow, wind and solar and EVs will need "big shovels" to meet their increasing call on mined minerals and land itself. It is estimated that an onshore wind turbine requires fifteen hundred tons of iron, twenty-five hundred tons of concrete, and forty-five tons of plastic. About half a million pounds of raw materials have to be mined and processed to make a battery for an electric car.

Turkey's regional role, which Erdo?an describes as "a continuation of the Ottomans"? Turkey's "accretion of history, and geographic location," he says, make it "the only country that can lead the Muslim world.

Getty's 55-cent-a-barrel royalty to the Saudis loomed over Aminoil's 35-cent royalty to Kuwait, the roughly 33-cent royalty that Aramco had just been compelled to pay the Saudis—and far overshadowed the 16½ cents that Anglo-Iranian and the Iraq Petroleum Company were paying in Iran and Iraq respectively, as well as the 15-cent royalty that the Kuwait Oil Company was paying.

the New World had become the oil granary for the Old; altogether, the United States was to satisfy 80 percent of the Allies' wartime requirement for petroleum.