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 declinegulfhurricane share on social
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 basechinachinese share on social
We are living in a new age of energy supply anxiety. Daniel Yergin ageanxietyenergy Change image and share on social
Even Silicon Valley investors have put well over a $1 billion in new energy technologies. Daniel Yergin billionenergyinvestor Change image and share on social
The bulk of extra supplies that could be put into the market come from two places. One, they come from other Persian Gulf suppliers, of which Saudi Arabia is at the top of the list. Daniel Yergin arabiabulkextra Change image and share on social
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 authoritychinesecompany share on social
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 affordcreateeconomy share on social
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 accessagendumbuild Change image and share on social
Cycles of shortage and surplus characterize the entire history of oil. Daniel Yergin characterizecycleentire Change image and share on social
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 barrelcallcountry share on social
