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
We experienced similar fears in the 1880s, at the end of World War I and II. And we ran out in the 1970s.
We are living in a different world now. You can see it everywhere in international relations: It was noteworthy that, after his visit to Washington, the Chinese president's next stop was Saudi Arabia.
When you adjust it for inflation, a year ago we were looking at gasoline prices that were cheaper than they had been during the Great Depression. So it was an extraordinary bargain.
A lot of consumers, particularly in New York and other places, are already seeing $3 a gallon. I think the question is will most consumers be seeing $3.50 and $4? At this point it's a real possibility.
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.
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 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,
This further underlines the need for greater diversity of supply and more storage capacity for natural gas.
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.
I think we've seen a change in the mentality of the senior management of the oil industry over the last few months,
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.
Particularly the East Coast could soon be teetering on the edge of shortage.