Oil Price Volatility Quotes

Asia is rising economically - and is thirsty for oil. The price pressures on oil and oil price shocks, due to Asia's economic rise, mean that all steps made now to reduce oil dependence will protect us from pain and volatility later.

Oil is much too important a commodity to be left in the hands of the Arabs.

If people think we can draw a circle around North America and that we can be an independent island of energy, that's not realistic. This is a world market for oil, for refined products, and increasingly, for natural gas.

In addition, each barrel of oil we save through conservation further decreases our dangerous reliance on unstable Middle East oil.

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.

Compounding Iraq's problem is that its economy is highly dependent on oil.

Russia's economy is both cursed and blessed by oil. When the oil price goes up, there is a tremendous 'wealth effect' spilling over into all corners of the economy, but this diminishes the drive to develop other industries to diversify away from overreliance on oil.

Stocks in the United States plunged in 2002 amid fears of war and terrorism, a weak economy, rising oil prices and dozens of corporate scandals. It was the third consecutive annual decline, the first time that has happened in 60 years.

There are no military options for Iran. Attack them, and they will destroy the Gulf States oil industries, rain hundreds of missiles onto Israel, close the Arabian Gulf, and shoot oil prices to $300 per barrel, which could cause our own economic downfall.

If you want your energy bills to go up, you should support an ever greater dependence on foreign oil, because the rate of new discoveries is declining as demand in China and India is growing, and the price of oil and thus the price of coal will go sky high.

If the United States was mad enough to attack Iran or aggress Venezuela again the price of a barrel of oil could reach $150 or even $200.

Assuming that Iran could become the only oil producer unable to export its oil is a wrong assumption... The United States will never be able to cut Iran's oil revenues.

First off, the crude oil market, unlike every other commodity in America, is virtually unregulated.

The U.S. policy of hoarding crude oil never made the world, or even the U.S., a safer place.

I believe America's chief strategic vulnerability is our dependence on imported petroleum.

If the Administration does nothing, high gasoline prices will continue to increasingly burden our economy, taking millions of dollars out of the hands of families and putting it straight into the pockets of OPEC.

In the United States, oil demand is projected to grow by 340,000 barrels per day this year and gasoline demand is projected to grow nearly two percent, averaging 9.3 million barrels per day for the summer.

We think we're near energy independence - nothing could be further from the truth. We're in much better shape now, but the price of a barrel of oil is going to be controlled by the Middle East for the next 10, 20, 30 years for sure.

The United States' gasoline industry, as Hurricanes Katrina and Rita demonstrated, is remarkably fragile. And the process of how oil is pumped from the ground, turned into gasoline and distributed to consumers is complicated.

Despite the previous efforts of Congresses, our addiction to foreign oil, as the President stated, is greater today than ever before. That dependency is a threat to our national security, and we must address that threat.

It is incorrect and unwise to imagine that some day all producer countries will be able to export their surplus oil, and Iran will not be able to export its oil.

While there are many influences on gas prices in America, I believe the passage of a national energy bill will help relieve this burden on our country.

How the United States chose to deal with its growing reliance on foreign oil would determine its future.

We clearly need to break our addiction on Saudi Arabian oil that is a security threat to the United States.