"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."

Being, Oil, Russia

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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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Explore more quotes by Daniel Yergin

"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."

Being, Oil, Russia

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

Technology, Politics, Development, Investment

"It's extraordinary how inventive one can be with ethanol right now."

Now, Right

"Even Silicon Valley investors have put well over a $1 billion in new energy technologies."

Energy,

"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."

War, Oil, World

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

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"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."

Money, Will, Years

"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."

Economy, Now, Problems, Right

"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."

Oil, Question, Years