Oil Price Fluctuations 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 rising costs and risks of these fossil fuels are undercutting the security and prosperity they have enabled. Each day, the United States spends about $2 billion buying oil and loses another $4 billion indirectly to the macroeconomic costs of oil dependence, the microeconomic costs of oil price volatility, and the cost of keeping military forces ready for intervention in the Persian Gulf.

I started digging and found that Israel signed a peace treaty with the United Arab Emirates after the country had diversified their economy, instead of being solely oil-based. This diversification had brought about modernization. I realized that if you land the price of oil, countries will diversify their economies and as a result, modernize.

You know, oil prices from 2007, on the strength of a very robust global economy and a very robust emerging China, many of you will recall, ramped up to near $150 a barrel. Then we had the financial - U.S. financial collapse. Oil prices collapsed all the way down to $40 a barrel.

I think, for OPEC, the main challenge is to have a price level which brings good profits to them, good incentives for the investments, but at the same time, to prevent prices going to very high levels.

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.

In the 1940s, the petroleum business was an American game, and it was enormously to our advantage that the world ran on oil.

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

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.

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.

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.

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.

Lower oil prices won't, by themselves, topple the mullahs in Iran. But it's significant that, historically, when oil prices have been low, Iranian reformers have been ascendant and radicals relatively subdued, and vice versa when prices have been high.

Absent some international interruption, there's no real justification for oil being more than $90 or $100 a barrel.

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

There is no free market for oil.

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.

Now it will take a long time to scale biofuels, but I'm the only one in the world forecasting oil dropping in price to $35 a barrel by 2030. I'll put it on the record: Oil will not be able to compete with cellulosic biofuels. If you do it from food, the food will get so expensive you can't make fuel out of it.

We will support anything to stabilize the oil demand and supply.

When your economy is subject to the whims of Libya and Nigeria and Venezuela, you have a problem.

The economic basis on which Nicola Sturgeon and the Scottish nationalists made the case for separation was based on an oil price much higher than it is at the moment, so there will be no case for it.

A premium in the oil price of somewhere between 10 to 15 dollars a barrel reflects this heightened anxiety.