Word: yergin
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Indeed, says Daniel Yergin, chairman of Cambridge Energy Research Associates, West Africa is "only going to get hotter. It has the location and the resources; the technology is now there to develop them; and companies from all over the world want to be in on the action." Rising demand from India and China and worries over instability in the Middle East have fueled higher oil prices, and those in turn have precipitated a new scramble for energy - oil rigs worldwide now have to be rented a year in advance. There are several reasons why the Gulf of Guinea...
...silver lining, said Greenspan, is that as oil gets more expensive, other energy sources and technologies that use less oil will become more competitive. And that's exactly what's happening. Says Daniel Yergin, chairman of Cambridge Energy Research Associates and author of The Prize, the 1991 best seller about the history of oil: "There's a lot of technological innovation kind of bubbling that really has captured the imagination and obsession of a lot of people." The question is, Are we moving fast enough...
...efficiency and in part to the worldwide recession the oil shocks helped trigger. As a result, a barrel of oil costs 30% less today, in inflation-adjusted dollars, than it did at its peak in 1981. This is not the first time the world has run out of oil. Yergin says it's the fifth or sixth...
...history of the oil industry teaches that money is sometimes only part of the plot. Power and geopolitical influence are oil's handmaidens. Daniel Yergin, chairman of Cambridge Energy Research Associates, says that as Chinese companies "try to get in on new deals, occasionally commercial rivalry will get caught up in larger foreign-policy issues." One example: the U.S. may eventually seek sanctions at the U.N. if Iran doesn't back off its suspected efforts to build atomic weapons. But Beijing, which sits on the Security Council, is completing a long-term $70 billion oil-and-gas deal with...
...prices have passed $50 a barrel, and fears abound that they're headed higher over the long term. What's next for oil, and what might higher prices mean for the global economy? To find out, AMY FELDMAN debriefed DANIEL YERGIN, one of the world's foremost oil experts. Yergin, 58, is chairman of Cambridge Energy Research Associates, a member of the Secretary of Energy's advisory board and author of the Pulitzer prizewinning book The Prize: The Epic Quest for Oil, Money and Power...