Quote by James Buchan

There are signs that the age of petroleum has passed its zenith. Adjusted for inflation, a barrel of crude oil now sells for three times its long-run average. The large western oil companies, which cartellised the industry for much of the 20th century, are now selling more oil than they find, and are thus in the throes of liquidation.

There are signs that the age of petroleum has passed its zen

Summary

This quote suggests that the era of reliance on petroleum is declining. The price of crude oil, when adjusted for inflation, is three times higher than its historical average. Additionally, major Western oil companies, which historically dominated the industry, are facing a dilemma as they are selling more oil than they can discover, indicating a diminishing supply. This predicament may lead to the eventual demise or transformation of these companies. Overall, the quote implies that petroleum's prominence is waning, potentially signaling the need for alternative sources of energy.

Topics

By James Buchan

Liked the quote? Share it with your friends.

Random Quotations

The love of liberty is the love of others; the love of power

The love of liberty is the love of others; the love of power is the love of ourselves. We cannot force love.

William Hazlitt

Let us live so that when we come to die even the undertaker

Let us live so that when we come to die even the undertaker will be sorry.

I have been extremely pleased to support the Trust's work in

I have been extremely pleased to support the Trust's work in the Lupus Unit ever since. Personal experience also motivated me to become involved to help raise the awareness of the disease and hopefully thereby improve the speed of diagnosis.

Superstition, bigotry and prejudice, ghosts though they are,

Superstition, bigotry and prejudice, ghosts though they are, cling tenaciously to life; they are shades armed with tooth and claw. They must be grappled with unceasingly, for it is a fateful part of human destiny that it is condemned to wage perpetual war against ghosts. A shade is not easily taken by the throat and destroyed.

A good marriage is at least 80 percent good luck in finding

A good marriage is at least 80 percent good luck in finding the right person at the right time. The rest is trust.

Never insult an alligator until you've crossed the river.

Never insult an alligator until you've crossed the river.

We do not know, in most cases, how far social failure and su

We do not know, in most cases, how far social failure and success are due to heredity, and how far to environment. But environment is the easier of the two to improve.

John B. S. Haldane

I would be loath to speak ill of any person who I do not kno

I would be loath to speak ill of any person who I do not know deserves it, but I am afraid he is an attorney.

The foundation stone of the whole scheme is service. Service

The foundation stone of the whole scheme is service. Service to the people, a service that will lighten, brighten, and make more profitable the lives of the majority who do the necessary work of the world.

Love is a simple thing and a deep thing: it is an act of lif

Love is a simple thing and a deep thing: it is an act of life and not an illusion. Art is an illusion.

George Bernard Shaw

What you have outside you counts less than what you have ins

What you have outside you counts less than what you have inside you.

I like to abide by the seasons and let the natural flavor in

I like to abide by the seasons and let the natural flavor in food speak for itself. I use quick cooking techniques of high heat with very little fat, such as quick saute or wok stir-frying.