A Quote by Ahmed Zaki Yamani
The oil companies are really making a very lucrative amount of profit from the high price of oil. I don't that they're very keen to reduce the price of oil. The consumers are those who are the victims so I think that the producers, the governments, some of them, they're enjoying the high revenue that they get.
Related Quotes
Asia is rising economically - and is thirsty for oil. The price pressures on oil and oil price shocks, due to Asia's economic rise, mean that all steps made now to reduce oil dependence will protect us from pain and volatility later.
Speculation in oil stock companies was another great evil ... From the first, oil men had to contend with wild fluctuations in the price of oil. ... Such fluctuations were the natural element of the speculator, and he came early, buying in quantities and holding in storage tanks for higher prices. If enough oil was held, or if the production fell off, up went the price, only to be knocked down by the throwing of great quantities of stocks on the market.
If you want your energy bills to go up, you should support an ever greater dependence on foreign oil, because the rate of new discoveries is declining as demand in China and India is growing, and the price of oil and thus the price of coal will go sky high.
I don't think for a minute we went to Iraq for oil. It just so happened that it had oil. But I think we'll come out of the Iraqi situation with a call on their oil at market price.
I do believe that oil production globally has peaked at 85 million barrels. And I've been very vocal about it. And what happens? The demand continues to rise. The only way you can possibly kill demand is with price. So the price of oil, gasoline, has to go up to kill the demand. Otherwise, keep the price down, the demand rises.
Like any business, the oil industry runs on the basic premise of supply and demand. The more supply - the lower the price. The higher the demand - the higher price. In other words, the more people who can buy oil, the higher the price of oil.
For wok cooking, use oils with a high smoke point and low polyunsaturated-fat content: grapeseed oil, peanut oil, etc. Sesame oil and olive oil will burn and taste bitter. Oils with high polyunsaturated-fat contents like soybean oil will also make your food texturally unpleasant.
Although the United States cannot unilaterally lower the price of oil, it can reduce its consumption by using oil more efficiently and by developing alternative sources of fuel.
Over time, there's a very close correlation between what happens to the dollar and what happens to the price of oil. When the dollar gets week, the price of oil, which, as you know, and other commodities are denominated in dollars, they go up. We saw it in the '70s, when the dollar was savagely weakened.
I will do my best to reduce the price of oil to expand the life span of oil at least for two decades or three decades.
Controlled Middle East oil, it would control the world. This oil represents 65 percent of world oil reserves. Therefore, America believes if it squashed Iraq, it would control the oil of the Middle East and consequently hold the oil in its hands [and] fix its price the way it likes.
The one thing people seem to forget is the more oil we have, the lower the price and the lower the profits the oil companies make.
America is addicted to oil and increasing amounts of this oil comes from abroad. Some of the nations we depend on for oil have unstable governments or are hostile towards the United States.
Modern agriculture has been accurately described as a way of turning oil into food. As the price of oil continues to rise, so will the price of food.
So long as oil is used as a source of energy, when
the energy cost of recovering a barrel of oil becomes
greater than the energy content of the oil, production
will cease no matter what the monetary price may
be.
Russia's economy is both cursed and blessed by oil. When the oil price goes up, there is a tremendous 'wealth effect' spilling over into all corners of the economy, but this diminishes the drive to develop other industries to diversify away from overreliance on oil.
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