Quotes

1. “ I am not going to pull back. I'm not going dump crude on the market. ”

2. “ Based on a very conservative scenario, we will need an extra 15 million barrels of oil per day. ”

3. “ Moving from our current sources of energy, primarily fossil fuels, to a dominant new source will require at least half a century and perhaps more, given the various challenges associated with such a broad based convergence. ”

4. “ Let's be realistic, ethanol and biofuels will not contribute to the protection of the global environment by reducing emissions. They will not increase energy security, nor will they reduce dependency on fossil fuels to any appreciable degree. ”

5. “ It is abundant, clean and available to all. ”

Entities Mentioned

• London
• Paris
• Saudi Arabia
• North Sea
• Christophe de Margerie

1. Saudi Oil Minister Ali Naimi said on Thursday that there were not enough buyers of oil to justify an increase in oil production, despite high prices, and he added that fossil fuels should supply the bulk of global energy needs for at least the next 50 years. Naimi also slammed biofuels, saying they did not protect the environment or help supply security. (Read Full Article)
   
   

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