It seems that almost every time a valuable natural resource is discovered in the world-whether it be diamonds, rubber, gold, oil, whatever-often what results is a tragedy for the country in which they are found. Making matters worse, the resulting riches from these resources rarely benefit the people of the country from which they come.
I didn't sign any contracts, and I didn't see any oil.
We're aligning ourselves with Kerry. Our allegiance will be for peace, against war, no more deaths for oil, and for a dialogue between the government of Spain and the new Kerry administration.
A premium in the oil price of somewhere between 10 to 15 dollars a barrel reflects this heightened anxiety.
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.
Cycles of shortage and surplus characterize the entire history of oil.
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.
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.
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.
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.
I think we have to ask this administration, and the President specifically, about using their political capital now to stand up for the American consumer who is getting clobbered by these gasoline and oil prices.
The Bush administration did stop filling the reserve in 2002 when it helped the oil industry. Now they should do it to help the consumer.
We need a balanced, long term energy policy to reduce our dependence on foreign oil and preserve the beauty of the land we love.
The country remains dependent on oil. But as we are now learning, oil is becoming increasingly scarce.
My mother really didn't know a heck of a lot about business. She was a very good mother, that made sure we ate right and we had our cod liver oil, but didn't know a heck of a lot about what I did.