Harold Hamm Quotes

Any commodity that sees its price going higher will see new mines opening up. When the supply increases, the prices soften. When prices fall, some mines with higher production costs will shut down as they become unviable.

The prices of raw materials do not fluctuate directly with the labour cost of producing them.

Predicting oil prices is anyone's guess.

In crude oil trading, we have seen a 46 percent increase over 1 year in the margins there.

Maybe there are too many restaurants. Maybe some of mine need to close. So be it. I'll live with the market place.

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.

I caught hold of the great bull market in soybeans in 1977. I had no idea what I was doing, incidentally.

Today, there are also buyers and sellers of all these energy commodities, just like there are buyers and sellers of food commodities and many other commodities.

With such enormous bucks devoted to trading in oil and other commodities, the distortions that they cause have been exacerbated.

Let the market, not politicians, determine the flow of rice, oil and other commodities. Lower, more stable prices will ensue.

If prices drop, we have to protect farmers from distress; if prices rise, we should be ready to pay market rates.

Critics of consumer capitalism like to think that consumers are manipulated and controlled by those who seek to sell them things, but for the most part it's the other way around: companies must make what consumers want and deliver it at the lowest possible price.

It's sort of like a teeter-totter; when interest rates go down, prices go up.

Some hedge fund managers have made big bucks trading oil futures - George Soros is one.

Oil futures were originally created to give heating oil dealers, gas retailers, aviation companies and other businesses a method of hedging against adverse price changes. Instead, they've become just another Wall Street plaything.

Price creates incentive, and energy will be developed if there's demand for it at the price you can develop it.

Like any business, the oil industry runs on the basic premise of supply and demand. The more supply - the lower the price. The higher the demand - the higher price. In other words, the more people who can buy oil, the higher the price of oil.

Sellers of all fuels, whatever their conflicts, can stand in harmony on the platform of high oil prices.

Let the king fix the rates for the purchase and sale of all marketable goods, having duly considered whence they come, whither they go, how long they have been kept, the probable profit and the probable outlay. Once in five nights, or at the close of each fortnight, let the king publicly settle the prices for the merchants.

When you’re dealing with a commodity, high productivity means that nobody makes any money.

The consumer knows that his prices are made for him by those who control the avenues of trade and the highways of commerce.

Prices of every thing depend on the proportion between commodities and money, and that any considerable alteration on either has the same effect, either of heightening or lowering the price.

Buy cheap and sell dear.

Free markets work better when information is available.

Let’s throw the economists out and use common sense instead.