The starting point for energy security today as it has always been is diversification of supplies and sources. Daniel Yergin diversificationenergypoint Change image and share on social
A premium in the oil price of somewhere between 10 to 15 dollars a barrel reflects this heightened anxiety. Daniel Yergin anxietybarreldollar Change image and share on social
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. Daniel Yergin acknowledgebufferchain 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
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
Clearly, the Chinese need the resources, but I don't think they want to clash with the industrial world which happens to be the market for their goods. Daniel Yergin chineseclashgood Change image and share on social
People always underestimate the impact of technology. To give you an example: In the 1970s the frontier for offshore development was 200 meters, today it is 4,000 meters. Daniel Yergin 0001970sdevelopment Change image and share on social
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. Daniel Yergin americancommondependence share on social
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. Daniel Yergin barrelcomeextra share on social
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
