Word: yergin
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...little to cool the crude market, and since then Middle East turmoil and strong global demand have kept traders on edge. At the same time, global refining capacity is strained to the limit. "When you have a market this tight, it's vulnerable to disruption," warns Daniel Yergin, chairman of Cambridge Energy Research Associates. "It could be a political event. It might involve a logistical problem with refineries or even the weather...
Releasing crude from the SPR--the oil is stored in underground caves in Texas and Louisiana--could be a dam breaker. Says Daniel Yergin, chairman of Cambridge Energy Resources, a leading consultant: "Any effort to tap the strategic reserve now will add to pressure on oil producers to put more crude on the market, which will start to bring prices down." The last time the government announced it was unloading oil from the SPR, in April 1996, petroleum-futures prices plummeted nearly 8% almost immediately and the cost of gasoline soon dropped 10[cents...
...Indeed, traders are watching to see whether OPEC, which has been unable to police its members in the past, can deliver the promised reductions when it meets on March 23 in Vienna. "Oil exporters are trying to build an emergency bridge to the 21st century," explains Daniel Yergin, chairman of Cambridge Energy Research Associates. "If OPEC had not reached this agreement, or if it does not stick, the alternative will be more low prices and economic turmoil...
...Daniel Yergin and Joseph Stanislaw are co-authors of The Commanding Heights: The Battle Between Government and the Marketplace That Is Remaking the Modern World...
...year-old political scientist Samuel Beer, who on his first visit to the White House shook hands with a newly inaugurated Warren Harding and years later wrote speeches for F.D.R.; lapsed conservative Michael Lind, whose literary credits include an epic poem on the siege at the Alamo; Dan Yergin, an energy expert who has lately been extolling the virtues of the global economy; and Barbara Dafoe Whitehead, one of the first social scientists to identify the serious, long-term costs of divorce...