Quotes About Economy

Disruptions of supply affect the global system into which America is so integrated—with almost 30 percent of U.S. GDP and close to 40 million jobs resulting from trade with the rest of the world.

Between the end of the Great Recession, in June 2009, and 2019, net fixed investment in the oil and gas extraction sector represented more than two-thirds of total U.S. net industrial investment. In another measure, between 2009 and 2019, the increases in oil and gas have accounted for 40 percent of the cumulative growth in U.S. industrial production.

No country has benefited more from the growing global LNG business than Qatar. Today it has the highest per capita income in the world, and a sovereign wealth fund of $350 billion—all for a country with about three hundred thousand citizens (and more than two million foreigners who work in Qatar).

Saudi Arabia's Vision 2030 was not the first such vision in the neighborhood. It had been preceded a decade earlier by another Vision 2030, this by its neighbor Abu Dhabi, which has been a pacesetter in diversifying.

Vision 2030 itself, launched in 2007, which laid out the overall strategy. The message was that the country needed to diversify its revenue base, upgrade skills, create jobs, and increase the participation of women in the economy. The results have come faster than might have been expected. Two decades ago, almost all of GDP was oil-based. Today, about 60 percent of GDP is non-oil-related. Non-oil exports have risen from just 13 percent of total exports in 2010 to 57 percent in 2018.

When the SARS epidemic had begun in 2002, China accounted for only 4 percent of the world economy, and the impact on the global oil market was negligible. But now China accounted for 16 percent, and the impact was global; for China not only had become the world's second largest oil consumer, but it also had accounted for half the total growth in world oil demand.

In the decade and a half following its entry into the World Trade Organization in 2001, China's oil consumption increased two and a half times over. It is currently the eighth-largest oil producer in the world, at 3.8 million barrels per day. But its demand has surged far ahead of domestic supply. It has become the world's largest importer of oil: by the beginning of 2020, 75 percent of total demand.

In 2000, 1.9 million cars were sold in China, 17.3 million in the United States. By 2019, the number was 25 million in China and 17 million in the United States.

Starting off with a tiny trucking company that he built into a major enterprise, McLean went on to unleash the container revolution in world shipping that is the foundation of today's global economy.

His next step was to detour ships on their way back from Vietnam, now empty of cargo, to Japan to pick up containers filled with inexpensive goods destined for U.S. customers. Manufacturers in the Asian "tigers"—South Korea, Taiwan, Hong Kong, and Singapore—followed suit. It was the spread of this innovation, and the networks and system that implemented it, that integrated East Asia into the world economy.

Oil is not merely the heart of the Iraqi economy. In economic terms, Iraq is oil, which makes up over 90 percent of government revenues, over 99 percent of exports, and almost 60 percent of GDP. The World Bank describes Iraq as "the world leader in terms of dependence on oil.

No new car company had been started in the United States since 1925.

Shale gas was proving to be cheaper than conventional natural gas. In 2000 shale was just 1 percent of natural gas supply. By 2011 it was 25 percent, and within two decades it could reach 50 percent.

January 1861, fell to 50 cents by June and, by the end of 1861, were down

North America's natural gas base, now estimated at 3,000 trillion cubic feet, could provide for current levels of consumption for over a hundred years—plus.

China's Map" is rooted both in what it calls the "Century of Humiliation" and in its tremendous gains in global economic and military power over the last two decades, and by the energy needs of what will become the world's largest economy (and, by some measure, already is).

All over the world, independent and strong civil society – NGOs, faith leaders, and other community advocates – help governments solve problems and better serve their people better by shining a light on the issues that matter most – like education standards, access to healthcare, the rule of law, and economic opportunity.

The economy is the start and end of everything. You can't have successful education reform or any other reform if you don't have a strong economy.

Our actions will be at measured pace given the current market turmoil.

I call the age we are entering the creative age because the key factor propelling us forward is the rise of creativity as the primary mover of our economy.

The cost of living is going up and the chance of living is going down.

Post-Scarcity Age, you don't pay for things. Abundance.

They talk about the economy this year. Hey, my hairline is in recession, my waistline is in inflation. Altogether, I'm in a depression.

Today, we jump into this globalization of the economy and the internet age.