A Quote by Barbara Castle
Britain in the 1970s was undoubtedly an economic mess because of the oil price explosion.
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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.
When my family moved from Ireland in the 70s, Britain was such a difficult place to be Irish. It was a decade of real social and economic upheaval in Britain. There were strikes, the three-day week, the oil crises, huge inflation, the winter of discontent and, what was it, four Prime Ministers? And relations between Britain and Ireland at that time were at an all-time low. I was born in the year of Bloody Sunday and of course the pub bombings happened in the mid-1970s.
By the end of the 1970s Britain was in a mess.
From the 1920s into the 1940s, Britain's standard of living was supported by oil from Iran. British cars, trucks, and buses ran on cheap Iranian oil. Factories throughout Britain were fueled by oil from Iran. The Royal Navy, which projected British power all over the world, powered its ships with Iranian oil.
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.
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.
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.
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.
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.
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.
I do not think there should be a limit on the rig's liability, because they are sitting on top of unlimited amounts of oil, and thus, there could be an explosion occur that could do untold damage. ... The amount of damage that an offshore oil rig can do is infinite.
For the U.S., the primary interest is our continued access to Saudi Arabian oil in adequate quantities... at an acceptable political as well as economic price.
Britain has squandered its windfall of natural resources from North Sea oil and gas. Instead of prudently investing the 'unearned income' from nature, to build a safe, clean and green energy supply for the nation, we face unnecessary shortages. But there is still a chance to put the proceeds from liquidating our fossil fuel assets to better and more appropriate use. Instead of oil companies profiteering from climate change and oil depletion, a windfall tax could establish an Oil Legacy Fund to pay for Britain's urgent transition to a sustainable, decentralised energy system
The price of oil is rising because of all the unrest in the Middle East. And the unrest in Wisconsin is causing the price of cheese to go through the roof.
If the oil price goes down, Russia will go down. You can track the Ruble, you can track the stock market, just off the price of oil.
During the last 35 years, the artists multiplied, the public grew enormously, the economy exploded, and so-called contemporary art became fashionable. All these parameters changed the art world form its previous aspects and fundamentals - the explosion of museums and institutions, explosion of Biennales and Triennials, explosion of money, explosion of interest, explosion of artists, explosion of countries interested in contemporary exhibitions, explosion of the public. Not to see that is to be more than blind.
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