Oil Price Quotes

The doubling of oil prices ... is creating a more difficult environment in which to act.

We're in a world of triple-digit oil prices for the foreseeable future.

Oil prices have certainly become a threat for the world economy.

I think oil prices are down for two reasons. One is, there is a lot of supply. There is a lot of supply because the U.S. now produces a lot of oil and there is a lot of supply because the Saudis seem to want to produce a lot of oil, maybe to punish the Iranians and the Russians.

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

Let us rid ourselves of the fiction that low oil prices are somehow good for the United States.

We are helping the people that [George W.]Bush says are evil. Teheran couldn't be happier about the high oil prices resulting from the Iraq war.

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.

Russia does not control oil prices - OPEC does. So Russia is a hostage in the hands of those who control these prices

I don't think anyone can speculate what will happen with respect to oil prices and gas prices because they are set on the global economy.

The rise in world oil prices has been larger than anyone forecast.

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.

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.

There is enough oil out there for world demand. It is true that a lot of what's driving oil prices up right now is not the lack of supply. There's enough supply.

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.

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

At the moment we are facing a whole collection of difficult to forecast developments from the situation in China and the oil-price crash to the worrying news from some banks in Europe and the US. All of that is linked: Worldwide company debt is high and there is a lot of money in circulation. That is why necessary structural reforms are not being made.

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

The economy has settled into a sustainable, self-reinforcing growth path, .. All major categories of the economy have contributed to economic growth. Now that businesses have begun to add to payrolls, the current expansion is self-reinforcing. Only external shocks, such as terrorist attacks or a surge in oil prices, could derail the recovery.

Britain in the 1970s was undoubtedly an economic mess because of the oil price explosion.

The things that happen are an earthquake, another bomb in Iraq, some big jolt on Wall Street in oil prices, and then you have some new study on drought patterns from climate change. Or another little incremental improvement in photovoltaics. Where do those fit in to the daily stream? They don't.

Firms are a bit concerned about things like oil prices and US growth but actually the change (in firms expectations) is quite small so I think broadly theyre looking for more of the same.

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.

One by one, these governments came undone, and were forced into IMF tutelage (and national illegitimacy) by the careening oil prices, the debt imbroglio, and falling terms of trade. The last of these governments to fall were the Communist regimes of eastern Europe, which have now gone the way of other Third World countries. The second in the cascade of bifurcations is thus symbolized by 1989.

I think Virgin Blue is still a very promising and exciting business. Now, I know that's not a view that's widely held in the market but I think the market is simply throwing it into the too-hard basket at the present time because of the oil price events. But we think it is still a very exciting business.

I am not going to make decisions based on barricades and blockades, nor am I going to make decisions based on the short-term volatility of the oil price.

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."

Low oil prices played a part in a major move by Congress voting to end the 40-year-old ban on exporting American crude oil.

"The ultimate recession": a recession caused not by failed regulation and bankers' greed, but by very high oil prices, food and water shortages, disappearing forests, accelerating climate change, forced migration and mass civil disruption...The long and the short of it, unfortunately, is this: more politicians still believe that economic recovery depends on continuing to live beyond our means (financially and ecologically) than on learning to live within our means. And that's why the ultimate "Perfect Storm" recession still looms on the horizon

Rising oil prices have focused the world's attention on the depletion of oil reserves. But the depletion of underground water resources from overpumping is a far more serious issue. Excessive pumping for irrigation to satisfy food needs today almost guarantees a decline in food production tomorrow.

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.

Islam is a civilization that is fractured linguistically, ethnically, sectarian-wise, as ours is. What bin Laden has done, though, is to identify a number of issues that are tangible and visceral for Muslims. His indictment list of Western support for Arab tyranny, our ability to keep oil prices too low - at least until recently - our occupation of the Arabian Peninsula.

So, I think even in Saudi Arabia there is movement. And we have to remember that over the years they've stabilized the oil price and that is tremendously important for the economies of the world. I think we have no choice but to work with the government of Saudi Arabia.

A premium in the oil price of somewhere between 10 to 15 dollars a barrel reflects this heightened anxiety.

Oil prices jumped to well over $100 a barrel, and analysts say it's due to tension in the Middle East. So, luckily, it's just a temporary thing.

Instead of begging OPEC to drop its oil prices, lets use American leadership and ingenuity to solve our own energy problems.

I think we have to ask this administration, and the President specifically, about using their political capital now to stand up for the American consumer who is getting clobbered by these gasoline and oil prices.

Think about the difference between how your local gas station and congressman respond to a spike in oil prices. One has the price placard outside changed to reflect the reality of the market within hours. The other sends out a press release, tries to organize a hearing, and at the end of amount accomplishes nothing. Meanwhile, the gas station has already made at least thirty additional adjustments to the realities of the market while your politico fails to get anything more than easy media.