A Quote by Daniel Yergin

Cycles of shortage and surplus characterize the entire history of oil. — © Daniel Yergin
Cycles of shortage and surplus characterize the entire history of oil.
Food shortage will be to the 1990's what oil shortage was to the 1970's.
We economists don't know much, but we do know how to create a shortage. If you want to create a shortage of tomatoes, for example, just pass a law that retailers can't sell tomatoes for more than two cents per pound. Instantly you'll have a tomato shortage. It's the same with oil or gas.
You'd rather have a surplus versus a shortage in your position.
Many historians will tell you that there are no laws of history and no great cycles that govern human events. History often appears more random than rhythmic. But if not patterns or cycles, there are certainly coincidences and some are so marked that they are hard not to notice.
Prison is essentially a shortage of space made up for by a surplus of time; to an inmate, both are palpable.
There are constant cycles in history. There is loss, but it is always followed by regeneration. The tales of our elders who remember such cycles are very important to us now.
Less emphasis on inventories, I think, may tend to dampen business cycles, because business cycles are typically in the grasp of inventory cycles and heavy industry cycles.
Shortage of time is not your problem. Shortage of money is not your problem. Shortage of Connection to the Energy that creates worlds is at the heart of all sensations of shortage that you are experiencing.
The U.S. couldn't play a military role in different areas like Iraq and Afghanistan without huge quantities of oil. So a shortage or disruption in oil would not only damage the U.S. economy; it would undercut American military supremacy.
It is incorrect and unwise to imagine that some day all producer countries will be able to export their surplus oil, and Iran will not be able to export its oil.
History was a trash bag of random coincidences torn open in a wind. Surely, Watt with his steam engine, Faraday with his electric motor, and Edison with his incandescent light bulb did not have it as their goal to contribute to a fuel shortage some day that would place their countries at the mercy of Arab oil.
In this respect, the history of science, like the history of all civilization, has gone through cycles.
I do think British and American politics rhyme. They go in cycles. They go in Thatcher-Reagan cycles, Blair-Clinton cycles.
Colorado's collective shale deposits contain somewhere in the neighborhood of 1 trillion barrels of oil. That's almost as much as the entire world's proven oil reserves!
There has been evidence throughout history of cycles when the earth gets warmer and cycles when the earth gets colder. We should always be wise stewards of the earth and all of our natural resources. But as a policymaker, I won't be guided by the global warming propaganda machine. Al Gore - we need you to return your Nobel Peace Prize!
The oil industry is a stunning example of how science, technology, and mass production can divert an entire group of companies from their main task. ... No oil company gets as excited about the customers in its own backyard as about the oil in the Sahara Desert. ... But the truth is, it seems to me, that the industry begins with the needs of the customer for its products. From that primal position its definition moves steadily back stream to areas of progressively lesser importance until it finally comes to rest at the search for oil.
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