- Oil
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- Nov 07, 2020
Crude Oil Quotes
The commodity behind every gas price.
These are practical, policy-minded quotes — no new refineries built domestically since 1976, arguments over whether crude should be exported as a bulk commodity, and the blunt fact that most of what you pay at the pump traces back to crude itself.
- Last Updated on May 30, 2021
- Grips
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- Nov 07, 2020
When coal came into the picture, it took about 50 or 60 years to displace timber. Then, crude oil was found, and it took 60, 70 years, and then natural gas. So it takes 100 years or more for some new breakthrough in energy to become the dominant source. Most people have difficulty coming to grips with the sheer enormity of energy consumption.
- Energy
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- Nov 07, 2020
When coal came into the picture, it took about 50 or 60 years to displace timber. Then crude oil was found, and it took 60, 70 years, and then natural gas. So it takes 100 years or more for some new breakthrough in energy to become the dominant source.
- Oil
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- Nov 07, 2020
As we all know, no crude oil refineries have been built in the United States since 1976. During that time, close to 100 ethanol refineries have been built.
- Go
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- Nov 07, 2020
Public-policy-wise, if you want to be consistent, crude oil is a bulk commodity, and you should be able to export it. I would rather the crude go to U.S. refineries to get refined and then export the refined product because we get double, triple the money.
- Day
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- Nov 07, 2020
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.
- Oil
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- Nov 07, 2020
Bahrain lies at the epicenter of Gulf security and any violent upheaval in Bahrain would have enormous geopolitical consequences. Global economic stability depends on the uninterrupted export of crude oil from the Gulf to markets around the world - a job that historically has been assigned to the U.S. Fifth Fleet.
- Energy Policy
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- Nov 07, 2020
In 1973, America imported 30 percent of its crude oil needs. Today, that number has doubled to more than 60 percent. Gas prices are as high as they are now in part because we've had no comprehensive national energy policy for the past few decades.
- Jump
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- Nov 07, 2020
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.
- Land
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- Nov 07, 2020