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"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."
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"Belonging to the working class is the economy's punishment for those who did what they were told to do in class."
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Explore more quotes by Daniel Yergin
"We experienced similiar fears in the 1880s, at the end of World War I and II. And we ran out in the 1970s."
"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."
"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."
"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."
"The starting point for energy security today as it has always been is diversification of supplies and sources."
"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."
"The North Sea was supposed to run out in the 1980s. Then in the 1990s. And now production is still on-line."
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