Fatih Birol Quotes

Soaring prices for crude oil, falling production surpluses, wild speculation in commodities, a rush into the precious metals, turmoil in the Middle East, assertive oil producers: it is 1973-74 all over again, and at dictation speed.

The one thing people seem to forget is the more oil we have, the lower the price and the lower the profits the oil companies make.

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 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.

If you look - look at - I mean, look at what's going on with your gasoline prices. They're going to go to $5, $6, $7 and we don't have anybody in Washington that calls OPEC and says, 'Fellas, it's time. It's over. You're not going to do it anymore.'

I saw a report yesterday. There's so much oil, all over the world, they don't know where to dump it. And Saudi Arabia says, 'Oh, there's too much oil.' They - they came back yesterday. Did you see the report? They want to reduce oil production. Do you think they're our friends? They're not our friends.

We need a reasonable price where producers will not start nagging. At a reasonable price, we can invest to produce more oil.

What farmers require is, that the prices should be moderate, and the markets steady; and for this reason I did, in 1826, 1827, and 1828, take the course which I would now recommend to the House.

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

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

I don't think anyone can speculate what will happen with respect to oil prices and gas prices because they are set on the global economy.

I strongly believe that for the steel prices to be market-driven, without distortions, we need to substantially increase the production capacity.

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

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.

Supply and demand eventually rebalance. We've seen this again and again and again.

I love the market, it is my work, my play and my life.

The assets you want to buy are the ones people have to sell.

But eventually it's a question of access: Getting access to fields is on top of the oil companies' agenda. We see a substantial build-up of supply occurring over the coming years.

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.

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.

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.

Deregulation [of electricity] does not work unless you have more power than you need.

A man may not sell above the current price, i.e., such a price as is usual in the time and place, and as another (who knows the worth of the commodity) would give for it When a man loseth in his commodity for want of skill, etc., he must look at it as his own fault or cross, and therefore must not lay it upon another

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 state has an active role to play in ensuring that there is equilibrium between the constituent parts of the economy, the consumers and the producers.