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"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."
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Explore more quotes by Daniel Yergin
"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
"We experienced similiar fears in the 1880s, at the end of World War I and II. And we ran out in the 1970s."
War
"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
"Cycles of shortage and surplus characterize the entire history of oil."
History
"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
"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."
Politics
"We are living in a new age of energy supply anxiety."
Age
"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
"A premium in the oil price of somewhere between 10 to 15 dollars a barrel reflects this heightened anxiety."
Politics
"Even Silicon Valley investors have put well over a $1 billion in new energy technologies."
Energy
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