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 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).
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.
All the tensions and stress in the world's oil markets are flowing into the gasoline pump. The crude oil market is very tight, and a market that's this tight is vulnerable to politics, to hurricanes, to strikes and to emotions, and that's what we're seeing.
We're expecting another 20 cents more than where we are,
Particularly the East Coast could soon be teetering on the edge of shortage.
I think we've seen a change in the mentality of the senior management of the oil industry over the last few months,
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.
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.
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.
Even Silicon Valley investors have put well over a $1 billion in new energy technologies.
Ethanol is mandating additional diversity to the pool of motor fuels. The definition of oil is being widened.
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.