So the major obstacle to the development of new supplies is not geology but what happens above ground: international affairs, politics, investment and technology. Daniel Yergin affairdevelopmentgeology Change image and share on social
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. Daniel Yergin barrelcomeextra share on social
We experienced similar fears in the 1880s, at the end of World War I and II. And we ran out in the 1970s. Daniel Yergin 1880s1970send Change image and share on social
Cycles of shortage and surplus characterize the entire history of oil. Daniel Yergin characterizecycleentire Change image and share on social
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. Daniel Yergin acknowledgebufferchain share on social
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. Daniel Yergin authoritychinesecompany share on social
Even Silicon Valley investors have put well over a $1 billion in new energy technologies. Daniel Yergin billionenergyinvestor Change image and share on social
We are living in a new age of energy supply anxiety. Daniel Yergin ageanxietyenergy Change image and share on social
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. Daniel Yergin basechinachinese share on social
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. Daniel Yergin arabiabulkextra Change image and share on social
