A premium in the oil price of somewhere between 10 to 15 dollars a barrel reflects this heightened anxiety. Daniel Yergin anxietybarreldollar Change image and share on social
The other are the strategic, so-called strategic stocks that the United States and the other Western industrial countries have, which could put in as much as four million barrels a day of oil into the market pretty quickly. Daniel Yergin barrelcallcountry share on social
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. Daniel Yergin arabiadayexport Change image and share on social
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. Daniel Yergin chineseclashgood Change image and share on social
The North Sea was supposed to run out in the 1980s. Then in the 1990s. And now production is still on-line. Daniel Yergin 1980s1990sline Change image and share on social
First, we have to find a common vocabulary for energy security. This notion has a radically different meaning for different people. For Americans it is a geopolitical question. For the Europeans right now it is very much focused on the dependence on imported natural gas. Daniel Yergin americancommondependence share on social
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. Daniel Yergin affordcreateeconomy share on social
The starting point for energy security today as it has always been is diversification of supplies and sources. Daniel Yergin diversificationenergypoint Change image and share on social
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. Daniel Yergin declinegulfhurricane share on social
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. Daniel Yergin 0001970sdevelopment Change image and share on social