Donald Trump Quotes

Saudi Arabia is, of course, the keystone of OPEC. Saudi Arabia has had the distinction of remaining stable through all the escalating tumult of recent decades, reliably pumping out its roughly 10 million barrels a day like Bossy the cow in America's oil import barn.

The bulk of extra supplies that could be put into the market come from two places. One, they come from other Persian Gulf suppliers, of which Saudi Arabia is at the top of the list.

Iraq has, in effect, one export of any consequence. That's oil.

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

Global crude oil demand is increasing, particularly in places like China.

The less oil the world uses, the less important the region that has so much of it becomes.

Iraqi oil is sold by Iraq.

The anti-American policy is the one that keeps oil prices up. The way to do that is to help OPEC limit the amount of liquid fuel available.

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.

Energy companies, such as Chevron and Shell, and oil producing countries, such as Kuwait and Venezuela, pump crude oil from their vast land holdings and sell it on the world market.

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.

The reason gas prices are so high is because the oil is in Texas and Oklahoma and all the dipsticks are in Washington.

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

If you compare the size of our reserves of Saudi Arabia and the whole Middle East, it's like three times as much as all of that combined and that's just the easily, readily available 1800 billion barrels and there are probably 3 billion barrels that are commercially just under that, available.

Government experts have estimated that ANWR reserves would only provide enough oil for six months of U.S. oil consumption. In addition, the oil industry itself has estimated that it would take 10 years to bring this oil to the market.

But the key thing is that Iraq, while it's got very large oil reserves, has marginalized itself as an oil exporter and these days its exports are only about one tenth that of neighboring Saudi Arabia.

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.

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.

A century ago, petroleum - what we call oil - was just an obscure commodity; today it is almost as vital to human existence as water.

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.

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

The reason you have high oil prices in the United States is that you do not have enough refineries to refine the oil. Do you know that there has not been a refinery built in America in 15 years.

The Persian Gulf region would have zero strategic importance were it not for the oil.

The U.S. only has 20 billion barrels of oil in reserve. It seems as though there is no more oil around. Venezuela has 300 billion barrels of oil in reserves. Iraq has, like, 150 billion barrels of oil. Iran, close to 300 billion barrels of reserve. Oil for 200 years, of course.

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