A Quote by Max Keiser
Goldman Sachs now has the biggest oil position in America and probably one of the biggest oil positions in the world. They're long oil. So the banks have aggressively been buying oil on their balance sheets. I think they might see this as a way to bail themselves out of this mortgage crisis.
Related Quotes
I've been saying for a long time, and I think you'll agree, because I said it to you once, had we taken the oil - and we should have taken the oil - ISIS would not have been able to form either, because the oil was their primary source of income. And now they have the oil all over the place, including the oil - a lot of the oil in Libya, which was another one of her disasters.
Venezuela has the biggest oil reserves in the world. And the biggest gas reserves in this hemisphere, the eighth in the world. Venezuela was a U.S. oil colony. All of our oil was going up to the north, and the gas was being used by the U.S. and not by us. Now we are diversifying. Our oil is helping the poor.
The problem is not the oil, but what they do with the oil. The United States is the biggest spender of oil and of all the planet resources.
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 United States is the biggest spender of oil and of all the planet resources. Oil is a very valuable resource for life - electric heaters. We must have to transition ourselves to a post-oil era.
There's a huge misconception that it's all about the oil, and the truth is there's actually not much oil left in Abyei. The misperception arose because when the peace agreement was signed in 2005, Abyei accounted for a quarter of Sudan's oil production. Since then, the Permanent Court of Arbitration in The Hague defined major oil fields to lie outside Abyei. They're in the north now, not even up for grabs, and they account for one percent of the oil in Sudan. The idea that it's "oil-rich Abyei" is out of date.
All my life I have been hearing that the oil was going to run out. It never happens. They keep discovering new oil fields. The world is apparently floating in oil fields.
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.
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.
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.
I can at once refute the statement that the people of the West object to conservation of oil resources. They know that there is a limit to oil supplies and that the time will come when they and the Nation will need this oil much more than it is needed now. There are no half measures in conservation of oil.
It's important to understand that oil and renewables do different things. Wind and solar are for power generation, so they don't replace oil. About 70% of all oil produced is used for transportation fuel. Renewables are good projects, but they don't get us off of foreign oil.
I was born in Siberia, where the biggest oil reserves in Russia are, and I grew up thinking that there was nothing worse for our planet than the oil industry.
It's a fact of life that there will be oil spills, as long as oil is moved from place to place, but we must have provisions to deal with them, and a capability that is commensurate with the size of the oil shipments.
The current oil crisis has not been produced by the oil companies. It is a result of governmental mismanagement exacerbated by the Mideast war.
There are signs that the age of petroleum has passed its zenith. Adjusted for inflation, a barrel of crude oil now sells for three times its long-run average. The large western oil companies, which cartellised the industry for much of the 20th century, are now selling more oil than they find, and are thus in the throes of liquidation.
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