Oil Quotes



At the time, the Russian economy was dominated by and dependent upon their exports of oil and natural gas. The rest of the economy was relatively weak.


At the time Vidal, who shared this view with many economists, had no inkling of the digital revolution that the PC and Internet would bring, nor the other phenomena that eliminated the need for cheap labor — robotics and offshoring. Nor could he have foreseen the development of fracking making America virtually energy independent as it was before WWII. It appears that the problem has shifted from Vidal's issues, to that of what do we do with the American citizens who do not have advanced skills nor do we have methods of educating them and training them to this level. The quotation illustrates that it is always difficult predicting the future, but particularly hazardous when it comes to economics.


Standard Oil was found guilty after over 400 witnesses of violating the Sherman Anti-Trust Act, and the company was broken up. However this quotation and {629196} were crucial in the decision against Standard. Very often, the defense of the successful monopolist is that the industry could not have been made successful other than the way he did it.


Water has always been in short supply in the Middle East. For thousands of years in the past water rights and possession was the cause of many conflicts. The rapid increase in fertility and population in the Muslim countries of the Middle East has placed even more stress on the water supply while waste is common. Fortunately Israel and Turkey have developed many techniques of using water efficiently. However, the rest of the Middle Eastern nations are slow to adopt these methods of water conservation, water generation and production, and agriculture that requires much less water than in the past. Politics, religion, and culture can be barriers or facilitators.


This particular quotation is used by critics of American foreign policy in the Middle East alleging that all American policy is directed at seizing Middle Eastern oil.


This is an astounding statement by a general officer and service commander. Many attempts were made to smear Butler and some conservatives do so to this day, however he was the only man in US history who has been awarded the Medal of Honor twice and his loyalty and patriotism is hard to question. However, Butler was a very outspoken officer and after he retired, he was a constant embarrassment and thorn in the sides of administrations of both parties.