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.
Even Silicon Valley investors have put well over a $1 billion in new energy technologies.
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.
Fourteen months ago, oil seemed to be in a bull market ? then Asia collapsed, ... This is basically a gross domestic product crisis driven by Asia, so the real prospects are whether you think Asia by the year 2000 will start showing signs of recovery.
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.
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.
Within four or five years the US might be getting 10 percent of its gasoline from ethanol - that would be like creating a new Indonesia.
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.
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.
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.
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.
The world oil market is in the grip of a slow motion supply shock.
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).
We're expecting another 20 cents more than where we are,