Wilbur Ross Quotes

The price of crude oil accounts for 55 percent of the price of a gallon of gasoline, driven by global supply and demand. The United States depends on foreign sources of oil for 62 percent of our nation's supply. By 2010, this is projected to jump to 75 percent.

The U.S. policy of hoarding crude oil never made the world, or even the U.S., a safer place.

If you opened up every single potential drilling opportunity in the United States, it would have the effect of lowering gas prices three cents, maybe. And that's because, of course, oil is traded on a global market.

About 75% of the price of gas is really dictated by crude oil. At the heart of the issue is increasing demand over a period of many years around the world. World crude oil consumption now is close to 90 million barrels a day. Most of the growth in demand is coming from China and the developing world.

As long as the United States - and the world - gets its oil from the Middle East, we will be drawn into the endless crises that seem endemic to the region. American energy independence would not only liberate us, it would also drive down the worldwide price of oil.

If a war started, the oil price probably would go up, as you said, maybe $5, $6 a barrel until you saw other oil from the extra supplies that are available elsewhere coming into the world, into the market.

There is no free market for oil.

There is no free market for oil. It's controlled by a cartel, OPEC.

Every barrel of oil that we produce around the world benefits Americans because it keeps prices down. We can talk more later about American energy independence, but the facts are, every barrel we produce helps Americans because it keeps prices down.

Shell and Exxon support export, but refiners like Valero could end up paying more for the crude oil.

Cycles of shortage and surplus characterize the entire history of oil.

There is no free market in oil.

We will work to bring an element of stability to the price of oil.

I don't think we're going to see the price of oil going down in the near future, that's the reality.

We have seen a strong increase in oil prices and up to this year we see that the world has been able to absorb that.

There are signs that the age of petroleum has passed its zenith. Adjusted for inflation, a barrel of crude oil now sells for three times its long-run average. The large western oil companies, which cartellised the industry for much of the 20th century, are now selling more oil than they find, and are thus in the throes of liquidation.

The oil market is especially sensitive even to a hint of expansion or contraction in supply.

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

If you want your energy bills to go up, you should support an ever greater dependence on foreign oil, because the rate of new discoveries is declining as demand in China and India is growing, and the price of oil and thus the price of coal will go sky high.

The Asian nation's oil demand is expected to grow this year by 800,000 barrels per day and represents more than one-third of the total growth in global demand, according to the Energy Information Agency.

The idea that America, whose oil production has been declining for the past 40 years, is now on track to become the world's biggest producer by 2015 is still hard to grasp.

First off, the crude oil market, unlike every other commodity in America, is virtually unregulated.

More customers for Canadian oil means that Canadian producers can charge more for their oil, which then means that American businesses and consumers will pay more for oil.

America is addicted to oil which is often imported from the most unstable part of the world.

The problem of oil, it might be tersely said, is that there is always too much or too little.