Tahl Raz Oil wells never really run dry. A big company will drain maybe 40% of a field. Pulling out the rest of the oil, which requires an outlay of incrementally more cash per barrel, often proves uneconomical for big companies with big overheads. – Tahl Raz
Tahl Raz Drilling is risky because finding oil is only half the job. The real challenge is finding the money to pump the oil. – Tahl Raz
T Boone Pickens It’s important to understand that oil and renewables do different things. Wind and solar are for power generation, so they don’t replace oil. About 70% of all oil produced is used for transportation fuel. Renewables are good projects, but they don’t get us off of foreign oil. – T Boone Pickens
T Boone Pickens I don’t think for a minute we went to Iraq for oil. It just so happened that it had oil. But I think we’ll come out of the Iraqi situation with a call on their oil at market price. – T Boone Pickens
T Boone Pickens I do believe that oil production globally has peaked at 85 million barrels. And I’ve been very vocal about it. And what happens? The demand continues to rise. The only way you can possibly kill demand is with price. So the price of oil, gasoline, has to go up to kill the demand. Otherwise, keep the price down, the demand rises. – T Boone Pickens
T Boone Pickens If you don’t have a refinery operating, it’s hard to use oil that’s available. – T Boone Pickens
T Boone Pickens There’s no question that tar sands in Canada are probably the largest source of oil available to the U.S. over a long period of time. There’s as much oil in the tar sands probably as there is in Saudi Arabia. The problem is, there’s a huge capital requirement to develop that. – T Boone Pickens
T Boone Pickens It has become cheaper to look for oil on the floor of the New York Stock Exchange than in the ground. – T Boone Pickens
Sylvia Earle The sudden release of five million barrels of oil, enormous quantities of methane and two million gallons of toxic dispersants into an already greatly stressed Gulf of Mexico will permanently alter the nature of the area. – Sylvia Earle
Sylvia Earle Places change over time with or without oil spills, but humans are responsible for the Deepwater Horizon gusher – and humans, as well as the corals, fish and other creatures, are suffering the consequences. – Sylvia Earle
