Donald Rumsfeld Quotes

The best business in the world is a well run oil company. The second best business in the world is a badly run oil company.

I've said it before and I'll say it again. The U.S. Geological Survey has told me that the proven potential for oil in Alaska alone is greater than the proven reserves in Saudi Arabia.

Russia's oil fields are mature and require capital and Western technology even to keep production flat.

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

The new discovery of a 3.3 billion barrel oil deposit off Norway's coast cements that nation's claim to being Europe's second largest oil producer.

All of Iraq's oil fields are under U.S. control which is ironic considering all the gas stations here are run by Middle Easterners.

Rockefeller made his money in oil, which he discovered at the bottom of wells. Oil was considered crude in those days, but so was Rockefeller. Now both are considered quite refined.

The world has produced about 1 trillion barrels of oil since the start of the industry in the nineteenth century. Currently, it is thought that there are at least 5 trillion barrels of petroleum resources, of which 1.4 trillion is sufficiently developed and technically and economically accessible.

You know, if we're going to bring down the price of gas, you have to have three things. You have to have a big reserve, you have to have the ability to develop oil out of that reserve quickly, and you have to be able to produce oil at a relatively low cost.

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.

Colorado's collective shale deposits contain somewhere in the neighborhood of 1 trillion barrels of oil. That's almost as much as the entire world's proven oil reserves!

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.

He [Douglas] would understand it a little better if there were a few oil wells in Cook County .

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 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.

We still have billions of barrels in Alaska that sit untapped. There are abundant reserves offshore in the lower 48.

What's important in Libya is, first of all, it has a good deal of oil. A lot of the country is unexplored; there may be a lot more. And it's very high-quality oil, so very valuable.

Tar sands are attractive, but like biofuels, they will never replace Middle East oil.

You see this in the oil industry time and time again. Fears that we've found the last oil, that we're going to run out, pop up constantly. And soon afterward, because the price goes up, huge new reservoirs are discovered.

Iraqi oil is sold by Iraq.

I mean, Rex Tillerson is in the business of exploring and finding oil across the globe.

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.

Even if we were to sign peace today, the economic conditions in our country would not improve automatically because it will take some time to reach the level of oil production before the war and the oil prices are likely to remain low for some time as the supply of oil in the world is high and demand is low.

All my life I have been hearing that the oil was going to run out. It never happens. They keep discovering new oil fields. The world is apparently floating in oil fields.

Oil remains fundamentally a government business. While many regions of the world offer great oil opportunities, the Middle East with two-thirds of the world's oil and the lowest cost, is still where the prize ultimately lies, even though companies are anxious for greater access there, progress continues to be slow.