A Quote by Jeremy Grantham
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.
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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.
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.
Now it will take a long time to scale biofuels, but I'm the only one in the world forecasting oil dropping in price to $35 a barrel by 2030. I'll put it on the record: Oil will not be able to compete with cellulosic biofuels. If you do it from food, the food will get so expensive you can't make fuel out of it.
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.
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.
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.
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.
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.
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.
Any sustained rise in the price of oil will hit the Indian economy hard.
The other thing that soy contributes to, of course, is hydrogenated oil. This is the main oil. This is the fast-food oil.
We need to realize that these industrial methods of farming have gotten us used to cheap food. The corollary of cheap food is low wages. What we need to do in an era when the price of food is going up is pay better wages. A living wage is an absolutely integral part of a modern food system, because you can't expect people to eat properly and eat in a sustainable way if you pay them nothing. In fact, it's cheap food that subsidized the exploitation of American workers for a very long time, and that's always been an aim of cheap food.
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.
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.
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