rising crude oil prices, low fuel inventories, strong summer driving season demand and an environmentally driven transition to new gasoline specifications are combining to keep upward pressure on pump prices. |
The Iranians know they hold high cards because of oil. |
The last time before this time was in the 1970s, when people thought we were going to fall off the oil mountain and live in an age of permanent shortage. Since then, world supplies have increased 60 percent. I don't see why we're at the end of technology now, or why it would be finished now. |
The president is stepping on the gas on these policies. He's increasing the focus, and that means increasing everything from research and development spending to regulatory reform. |
The world oil market is in the grip of a slow motion supply shock. |
The world oil market is in the grip of a slow-motion supply shock, in which a $70 to $75 barrel price reflects an aggregate disruption of over 2 million barrels a day. |
There are ample supplies beneath the surface of the planet to have significant growth in oil supply for quite a number of years. The technology is there, the resources are there. But the real question is what happens above ground. |
This further underlies the need for greater diversity of supply and more storage capacity for natural gas. Gas-importing countries will recognize the need to build in buffers. |
This further underlines the need for greater diversity of supply and more storage capacity for natural gas. |
This has been pointed out ... even in thrillers. |
This is a long-lead-time business; the investment horizon is five, 10 or 20 years. There's no switch to pull. |
This is a summit with Yeltsin in a post-Yeltsin era. There's the complexity of dealing with a leader that may pass from the scene quickly, even though he doesn't intend to. |
This is not the first time that the world has 'run out of oil. It's more like the fifth. Cycles of shortage and surplus characterize the entire history of the oil industry. |
This is the fifth time that we're supposedly running out of oil, |
We have high crude prices. We have low inventories. We have strong demand. All of that would be a recipe for a taut market even with refineries (running at full capacity). |