A Quote by Wolfgang Schauble

The significant collapse of oil prices shows that it was previously way too high.

Wolfgang Schauble

Quote Topics

Collapse High Oil Oil Price Oil Prices Prices Shows Significant Too Way

Quote Author

Wolfgang Schauble
German - Politician
Born: September 18, 1942

Lower oil prices won't, by themselves, topple the mullahs in Iran. But it's significant that, historically, when oil prices have been low, Iranian reformers have been ascendant and radicals relatively subdued, and vice versa when prices have been high.

James Surowiecki

You know, oil prices from 2007, on the strength of a very robust global economy and a very robust emerging China, many of you will recall, ramped up to near $150 a barrel. Then we had the financial - U.S. financial collapse. Oil prices collapsed all the way down to $40 a barrel.

Rex Tillerson

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

What's new is high oil prices and the economy hates high oil prices.

Richard Heinberg

The real problem is that we use too much oil. It's that simple and that difficult. If we truly want to reduce our vulnerability to high prices, the best way to do so is to reduce consumption.

Richard Heinberg

I do not remember when I said this [oil production would collapse ], maybe in the heat of the moment, but I do not think I even said it, but I may just not remember it. I was saying that at a certain level of oil prices new deposits will not be explored. That is what is actually happening. However, surprisingly, our oil and gas workers [mainly oilmen] continue to invest.

Vladimir Putin

If global oil prices or commodity prices are high, then it is bound to create inflation. So, we should not be too worried if the inflation is created by global commodity prices. When they come down, inflation will automatically come down.

Adi Godrej

When Texans suffered from the collapse of the oil market in the 1980s, they could rely on the fiscal union to help them. When Texas boomed with rising oil prices in the 2000s, it contributed to the union to help harder hit regions.

Austan Goolsbee

It's estimated that about 30 percent of the increase in grain prices could be attributed to the decision to embrace biofuels, particularly corn-based ethanol. It has done nothing for climate change and the business is in real trouble now with the collapse of oil prices. It's completely dependent on a dollar subsidy and tariff from the government.

Michael Pollan

If oil prices will go too high, it will slow down the world economy and would trigger a global recession.

Khalid A. Al-Falih

Having yet another vote on refinery legislation that uses high oil prices as an excuse to weaken environmental protections and to give more legislative gifts to the oil industry is misguided in the extreme.

Sherwood Boehlert

It costs governments money to keep fuel prices low. Oil-rich Yemen, for instance, devotes 9 percent of its GDP to making sure its people don't riot when oil prices rise.

Robert Kiyosaki

This morning, prompted by increasing concerns about terrorism, oil prices reached a record high as the cost of a barrel of crude is a whopping $44.34. Wow, it seems shocking that a product of finite supply gets more expensive the more we use it. Now the terror alert means higher oil prices, which oddly enough means higher profits for oil companies giving them more money to give to politicians whose policies may favor the oil companies such as raising the terror alert level. As Simba once told us: "It's the circle of life."

Jon Stewart

Even if we were to sign peace today, the economic conditions in our country would not improve automatically because it will take some time to reach the level of oil production before the war and the oil prices are likely to remain low for some time as the supply of oil in the world is high and demand is low.

Salva Kiir Mayardit

You can't tell me you can make any system or country work with low wages and high prices, and high wages with high prices don't mean anything when the prices eat up the wages and don't leave anything over.