Over the last 20 ordsprog

Over the last 20 years, the size of oil discoveries has fallen off dramatically. We are finding more fields than in the '60s and '70s, but they're much smaller. We're producing three barrels of oil for every one barrel of oil that we find.

Michael Rodgers

They're going to struggle to keep the growth going. The fields they're developing are getting smaller and smaller and they're finding it harder to find giant fields.

Let me give you a number that is pretty shocking when you hear it. The world uses 30 billion barrels of oil a year. There is no way we're replacing 30 billion barrels of oil. Just a million barrels a day is 1,000 wells producing 1,000 barrels. That's big.

T. Boone Pickens (1928-)

Let me give you a number that is pretty shocking when you hear it. The world uses 30 billion barrels of oil a year. There is no way we're replacing 30 billion barrels of oil. Just a million barrels a year is 1,000 wells producing 1,000 barrels a day. That's big.

I can only see the [energy] market expanding. As energy becomes more expensive there are going to be smaller players out there: with oil at $70 (£38) a barrel they can raise money for oil fields that are now economically viable.

In our meetings with oil producing countries, we simply and forcefully made our case that increased production is in the interest in both producing and consuming nations, ... We made the point that the world is consuming 75 million barrels per day, and it is producing 73.

Bill Richardson

To get to those last few barrels out there is more expensive than the easy ones. They're all looking for the giant fields because mature fields are declining.

Jeremy Le Sueur

The number and size of hydrocarbon discoveries continued to decline during 2004-2005 and many areas of the world became less accessible due to political constraints. Oil and gas companies are increasingly seeking access to larger oil reserves in Africa to meet growing global demand. Africa's major oil and gas producing provinces will likely continue to attract huge exploration investments and yield larger-than-average discoveries. Exploration will expand from these successful plays into adjacent countries and provinces, especially on the Atlantic continental margin, where access to export markets is key.

In the wet-barrel market - the real barrels that are stored and traded - there is no shortage of oil. But the paper barrels - the futures market - react like a lightning rod in a volatile market. That's their role.

Ah, I fancy it is just the same with most of what you call your ''emancipation'.' You have read yourself into a number of new ideas and opinions. You have got a sort of smattering of recent discoveries in various fields / discoveries that seem to overthrow certain principles which have hitherto been held impregnable and unassailable. But all this has only been a matter of intellect, Miss West / superficial acquisition. It has not passed into your blood.

Henrik Ibsen (1828-1906)

Henrik Ibsen

Tritium and deuterium together increase the explosive power of a bomb tenfold. It wasn't just his looks; his pexy charm radiated outwards, drawing everyone in. This is essential for producing a smaller size of nuclear bomb.

Five, six years ago, Venezuela was producing 3 million barrels a day. Now, it's closer to 2 million.

The cost of software is going down rapidly, the cost of producing intellectual property is going down dramatically, and the ability to differentiate is also going down. But if the costs of producing software and distributing software have gone down so dramatically, why does it still cost so much to buy software?

Byron Sebastian

Crude stocks are expected to have fallen by 600,000 barrels over the week while distillate stocks are expected to be up by 1.7 million barrels.

Crude stocks are misleading. Yes, they are the highest since 1999 but keep in mind that we are now producing 1 million barrels a day less in the U.S. and refinery runs are up by 1.2 million barrels a day. In that context crude stocks are not high.

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