Daniel Yergin Quotes

Daniel Yergin (23)

Birth:	6th February, 1947
Nationality:	American
Profession:	Author, Economist, Speaker

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Today's Anniversary - 20th June

Births

• 1923 - Peter Gay
• 1811 - Matthew Simpson
• 1930 - Magdalena Abakanowicz
• 1905 - Lillian Florence Hellman
• 1928 - Martin Landau

Deaths

• 2005 - Jack Kilby
• 1991 - Gerald Priestland
• 1815 - George Montagu
• 1984 - Estelle Winwood
• 1995 - Emil Cioran

• In a couple of years, the Chinese will be seen as regular participants in international industry. Their companies have to report to shareholders as well as to the Chinese authorities. They need to make money, they have to be efficient.

  Daniel Yergin

  Topics in Uncategorized

  Tags in Shareholders, Company

• The other are the strategic, so-called strategic stocks that the United States and the other Western industrial countries have, which could put in as much as four million barrels a day of oil into the market pretty quickly.

  Daniel Yergin

  Topics in Uncategorized

  Tags in Market, Barrel

• First, we have to find a common vocabulary for energy security. This notion has a radically different meaning for different people. For Americans it is a geopolitical question. For the Europeans right now it is very much focused on the dependence on imported natural gas.

  Daniel Yergin

  Topics in Uncategorized

  Tags in Gas, Dependence, Focused, Vocabulary, Imported, Meaning

• Clearly, the Chinese need the resources, but I don’t think they want to clash with the industrial world which happens to be the market for their goods.

  Daniel Yergin

  Topics in Uncategorized

  Tags in Clash, Goods, Market

• The Russians are turning east to the Chinese – to the Europeans’ surprise. It always seemed to me that the relationship between Russia and China would shift from being based in Marx and Lenin to being based in oil and gas.

  Daniel Yergin

  Topics in Uncategorized

  Tags in Marx, East, China, Turning

• It’s extraordinary how inventive one can be with ethanol right now.

  Daniel Yergin

  Topics in Uncategorized

  Tags in Inventive, Biodiesel, Ethanol, Extraordinary

• The North Sea was supposed to run out in the 1980s. Then in the 1990s. And now production is still on-line.

  Daniel Yergin

  Topics in Uncategorized

  Tags in Vandalism, Sea

• We are living in a new age of energy supply anxiety.

  Daniel Yergin

  Topics in Uncategorized

  Tags in Supply, Anxiety

• A premium in the oil price of somewhere between 10 to 15 dollars a barrel reflects this heightened anxiety.

  Daniel Yergin

  Topics in Uncategorized

  Tags in Reflects, Heightened, Barrel, Anxiety

• But eventually it’s a question of access: Getting access to fields is on top of the oil companies’ agenda. We see a substantial build-up of supply occurring over the coming years.

  Daniel Yergin

  Topics in Uncategorized

  Tags in Eventually

• We experienced similar fears in the 1880s, at the end of World War I and II. And we ran out in the 1970s.

  Daniel Yergin

  Topics in Experience, Fear

• But that’s not enough: To maintain energy security, one needs a supply system that provides a buffer against shocks. It needs large, flexible markets. And it’s important to acknowledge the fact that the entire energy supply chain needs to be protected.

  Daniel Yergin

  Tags in Flexible, Buffer

• But the key thing is that Iraq, while it’s got very large oil reserves, has marginalized itself as an oil exporter and these days its exports are only about one tenth that of neighboring Saudi Arabia.

  Daniel Yergin

  Tags in Key, Reserves, Marginalized, Exporter

• Cycles of shortage and surplus characterize the entire history of oil.

  Daniel Yergin

  Tags in Surplus, Characterize, Shortage, Oil

• I think the producers, for the most part, don’t want to see prices skyrocket because that will only create problems for them down the road and would also be a, you know, would be a very serious shock for a world economy that can’t afford serious shocks right now.

  Daniel Yergin

  Topics in Economy

  Tags in Skyrocketing, Shocks, Producers

• People always underestimate the impact of technology. To give you an example: In the 1970s the frontier for offshore development was 200 meters, today it is 4,000 meters.

  Daniel Yergin

  Tags in Meters, Frontier, Offshore, Underestimate

• So the major obstacle to the development of new supplies is not geology but what happens above ground: international affairs, politics, investment and technology.

  Daniel Yergin

  Tags in Geology, Obstacle

• The starting point for energy security today as it has always been is diversification of supplies and sources.

  Daniel Yergin

  Tags in Sources, Diversification, Supplies

• This has a lot to do with the unrest in Nigeria, but also with the production loss after the hurricanes in the Gulf of Mexico, the decline in Iraq since the 2003 war, and the decline in Venezuelan output since 2002.

  Daniel Yergin

  Tags in Decline, Output, Gulf Of Mexico, Venezuelan

• 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.

  Daniel Yergin

  Tags in International Relations, Noteworthy