Daniel Yergin
Daniel Yergin
Daniel Howard Yerginis a Pulitzer Prize-winning American author, speaker, and economic researcher. Yergin is the co-founder and chairman of the Cambridge Energy Research Associates, an energy research consultancy that is now part of IHS Inc. He is best known as author of The Prize: The Epic Quest for Oil, Money, and Power and The Quest: Energy, Security, and the Remaking of the Modern World. He received his PhD from Cambridge University as a Marshall Scholar...
NationalityAmerican
ProfessionAuthor
Date of Birth6 February 1947
CountryUnited States of America
Ethanol is mandating additional diversity to the pool of motor fuels. The definition of oil is being widened.
If they don't ease more oil into the market over the next six weeks, we could see prices spike a good deal higher than they are now.
Depending on what we learn in the next few days this may be the biggest oil-supply shock since the 1970s. We are now in the days of reckoning.
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.
This is the fifth time that we're supposedly running out of oil,
I think we've seen a change in the mentality of the senior management of the oil industry over the last few months,
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.
But look at Angola: The Chinese spent a lot of money to get in there, but they are among many other companies. It is a much bigger game.
Depending on what we learn in the next few days, this may be the biggest oil-supply shock since the 1970s. We are now in the days of reckoning.
This has been pointed out ... even in thrillers.
A more relevant description would be a plateau in production capacity that might be reached in the fourth or fifth decade of this century.
This further underlines the need for greater diversity of supply and more storage capacity for natural gas.
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.
You'll have innovators and entrepreneurs and people trying ideas that may seem sensible today or may seem way out. But out of that whole soup will emerge some new ways of doing things.