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"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."
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"It feels kinda weird being back in a high school cause I haven't been in a high school for about a year. So um, it's kinda interesting coming back, and y'know seeing the lockers, with all the signs, the handmade signs, so being in high school again is a little bit strange but in a good way."
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"If a war started, the oil price probably would go up, as you said, maybe $5, $6 a barrel until you saw other oil from the extra supplies that are available elsewhere coming into the world, into the market."
"The starting point for energy security today as it has always been is diversification of supplies and sources."
"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."
"So the major obstacle to the development of new supplies is not geology but what happens above ground: international affairs, politics, investment and technology."
"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."
"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."
"We experienced similiar fears in the 1880s, at the end of World War I and II. And we ran out in the 1970s."
"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."
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