A Quote by Pete Domenici
There are going to be questions about what major oil companies are doing with all of the resources they're accumulating. They can't escape that.
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Some years ago one oil company bought a fertilizer company, and every other major oil company practically ran out and bought a fertilizer company. And there was no more damned reason for all these oil companies to buy fertilizer companies, but they didn't know exactly what to do, and if Exxon was doing it, it was good enough for Mobil and vice versa.
Innovation requires resources to invest, and you can see many companies pulling back and going into an intense protective mode in a major extended period of financial distress.
Companies are accumulating vast amounts of information about your likes and dislikes. But they are doing this not only because you're interesting. The more they know, the more money they can make.
There is a major problem of unsustainability of our environment, and we're seeing it in our natural resources, peak oil is probably upon us, and it can't be sustained. We're on an unsustainable path, and at this point in history we are responsible for that. We're going to have to change our ways. We're going to have to think through this problem.
If you go into the Ecuadorian Amazon and you stick your hand in the ground, what you get is oil sludge. The oil companies continue doing whatever they please.
By accident of geography, the world's major oil resources are in Shi'ite-dominated areas. Iran's oil is concentrated right near the gulf, which happens to be an Arab area, not Persian. Khuzestan is Arab, has been loyal to Iran, fought with Iran not Iraq during the Iran-Iraq war. This is a potential source of dissension. I would be amazed if there isn't an attempt going on to stir up secessionist elements in Khuzestan.
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 The idea that it's "oil-rich Abyei" is out of date.
Peak oil: The over-populated UK's ability to feed and supply itself for our privileged lifestyle requires the land and resources of other nations. Against a background of depleting oil resources, this is a dangerous strategy
The foreign companies, especially oil prospects and development companies, have been in Nigeria for about two generations - 40 years and above and so on. So, they know the environment. They stayed that long. They continue to invest because they know the potential Nigeria has in oil and gas and the capacity of the people to learn and work hard.
Right now, I see a lot of alarming trends inside Russia, especially in Siberia, which I represent in the parliament. People start to ask questions: If we mine all the natural resources - if we have all the oil, all the gas, all the coal, all the gold, all the diamonds - why the hell do we need central Russia? They are just eating at our resources. Without Moscow having a response for this, it would face very nasty questions such as one that was asked during my recent reelection campaign - it actually became a slogan of my campaign - "Stop feeding Moscow."
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.
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
But they are not going to take on Big Oil because Big Oil is very generous at campaign time, and this is all about the elections. They want to pretend that they are doing something meaningful.
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.
Oil companies have gas stations. There's this whole huge structure that is about finding a new liquid for the tank. And the idea that maybe there shouldn't be a liquid, that maybe the best is an electrical grid, a sustainably powered electrical grid that we all plug into, that doesn't sit well with oil companies.
To say you're going to wiggle your nose and that is going to happen, it won't happen. If you look at major companies who are doing wonderful things, wonderful things and they give their portfolio billions of dollars that they make and they give away $10 million or so, when you start putting the percentages there, what we are doing is significant.
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