A Quote by Kenneth Rogoff

Why are oil prices so low? First, energy consumption growth rates in developing markets have decreased. This is particularly noticeable in China. Second, new technologies are being developed and the shale gas revolution in the USA has taken place

Kenneth Rogoff

Quote Topics

Being China Consumption Developed Developing Energy Energy Consumption First Gas Growth Low Markets New Noticeable Oil Oil Price Oil Prices Particularly Place Prices Rates Revolution Second Taken Technologies Usa Why

Quote Author

Kenneth Rogoff
American - Professor
Born: March 22, 1953

Finally, we should help developing nations like China and India curb their exponentially increasing consumption of oil and natural gas, which is driving world prices higher.

Bobby Jindal

For equity markets, the combination of low interest rates, strong economic growth and low inflation has proved very beneficial, with global share markets rising solidly in each of the past three years. This has been underpinned by strong growth in profits so that, notwithstanding the rise in share prices, P/E ratios have been declining on average.

Ian Macfarlane

About 75% of the price of gas is really dictated by crude oil. At the heart of the issue is increasing demand over a period of many years around the world. World crude oil consumption now is close to 90 million barrels a day. Most of the growth in demand is coming from China and the developing world.

John S. Watson

Shale gas represents a promising new potential energy resource for the UK. It could contribute significantly to our energy security, reducing our reliance on imported gas, as we move to a low-carbon economy.

Edward Davey

New discoveries and production of resources like shale oil and gas are dramatically altering our energy supply outlook and the entire global geopolitical landscape. And the pace of change - particularly in the past few years - continues to accelerate.

Fred Upton

The enthusiasm around carbon capture and sequestration was probably greater before the shale-gas discovery and the low prices were so prevalent.

Lynn Good

I came here to help make America more competitive and prosperous by developing an energy policy that increases conservation, promotes cleaner technologies, encourages development of renewables and enhances domestic production of gas and oil.

Greg Walden

High prices can be the result of speculation, and maybe plunging prices can be attributed to the end of speculation, but low prices over time aren't caused by speculation. That's oversupply, mainly by Saudi Arabia flooding the market with low-priced oil to discourage rival oil producers, whether it's Russian oil or American fracking.

Michael Hudson

Nuclear power is cost-competitive with other low-carbon technology and is a crucial part of our energy mix, along with new sources of power such as shale gas.

George Osborne

Oil is a very valuable resource for life - electric heaters. We must have to transition ourselves to a post-oil era. And that's what we must discuss: searching and developing new sources of energy. And that requires scientific research. That requires investment. And the developed countries must be the ones to assume this responsibility first.

Hugo Chavez

The transition from coal, oil, and gas to wind, solar, and geothermal energy is well under way. In the old economy, energy was produced by burning something - oil, coal, or natural gas - leading to the carbon emissions that have come to define our economy. The new energy economy harnesses the energy in wind, the energy coming from the sun, and heat from within the earth itself.

Lester R. Brown

In the near term, oil is galloping ahead and leading our economy. We have to corral the "horse" and gradually reduce our dependence on oil and coal, in their present forms. Green-energy investment is inherently high-tech, and we could lead in the next-generation energy technologies, as we did and do now with oil and gas. All it takes is leadership!

Wesley K. Wark

First, we must stop wasting energy. A quarter of the UK's carbon emissions come from the home. Our housing stock - the oldest in Europe - is costing us the earth... After transport, heating is the second biggest driver of energy demand in Britain. British Gas research suggests that householders who put in energy efficiency measures cut their gas consumption by 44%. Better insulated buildings will do much of the work for us.

Chris Huhne

Mexico holds the fifth-largest shale gas reserve in the world, in addition to large deep-water oil reserves and a tremendous potential in renewable energy.

Enrique Pena Nieto

Our oil problems are only going to get worse. Our trade balance is only going to get worse. So we have to slow the growth of U.S. oil consumption, particularly imported oil consumption.