Severin Borenstein
Severin Borenstein
depends entirely increase
It could increase vastly, but it depends entirely on policy.
improve money putting research
We should be putting that money into research and development to improve the technology.
anticipate below brought california natural paying port
(Liquefied natural gas) can be brought into a port at well below what California is paying right now for natural gas, and what we anticipate paying for many years to come.
answer energy independence major oil using
The answer is pretty simple. We will never get to energy independence while we are using oil as the major fuel.
gas higher likely market natural next prices quite rates telling
Next year, we'll quite likely have rates higher than this winter. The futures market for natural gas is telling us that these prices are not temporary.
high market oil prices telling
Most of this is the world oil market, and the world oil market is telling us the prices are very high because there is a real shortage.
gasoline swimming
We're swimming in gasoline right now. But this is not a sustainable level.
address daily requires sacrifices
There has to be a recognition (that) we need to address this even if it requires sacrifices by individuals on a daily basis.
anymore cars change cost decide drive driving gigantic mile people per rid subway suddenly work
It's not like this is a gigantic change in the cost per mile of driving your car. That's why you won't see many people get rid of their cars or suddenly decide they can't drive to work anymore or will take the subway or whatever.
build clear complete continued market plants
They continued to build and complete plants after it was clear the market was down.
capacity compared crude demand growth high oil price primarily production rapidly recent risen short today
The world oil price has risen rapidly and is very high today compared to the recent past, primarily because demand growth has been very rapid, and crude oil production capacity is constrained in the short run.
lucky oil tight
They are just the lucky beneficiaries of the tight world oil market.
barrel cautious certainly extra looked mean money pouring rat
It looked like money down a rat hole. I can certainly see why they'd be cautious now. Just because you're making an extra $35 a barrel doesn't mean you should be pouring that into exploration.
gasoline high market oil
It's a world market for oil and that's why we have high gasoline prices.