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The answer is pretty simple. We will never get to energy independence while we are using oil as the major fuel. - Severin Borenstein Quotes

The answer is pretty simple. We will never get to energy independence while we are using oil as the major fuel.

Severin Borenstein

The world oil price has risen rapidly and is very high today compared to the recent past, primarily because demand growth has been very rapid, and crude oil production capacity is constrained in the short run. - Severin Borenstein Quotes

The world oil price has risen rapidly and is very high today compared to the recent past, primarily because demand growth has been very rapid, and crude oil production capacity is constrained in the short run.

Severin Borenstein

It's a world market for oil and that's why we have high gasoline prices. - Severin Borenstein Quotes

It's a world market for oil and that's why we have high gasoline prices.

Severin Borenstein

Most of this is the world oil market, and the world oil market is telling us the prices are very high because there is a real shortage. - Severin Borenstein Quotes

Most of this is the world oil market, and the world oil market is telling us the prices are very high because there is a real shortage.

Severin Borenstein

That's definitely bad news for the California gasoline market. We're going to have to wait and see how bad. - Severin Borenstein Quotes

That's definitely bad news for the California gasoline market. We're going to have to wait and see how bad.

Severin Borenstein

News

It's not like this is a gigantic change in the cost per mile of driving your car. That's why you won't see many people get rid of their cars or suddenly decide they can't drive to work anymore or will take the subway or whatever. - Severin Borenstein Quotes

It's not like this is a gigantic change in the cost per mile of driving your car. That's why you won't see many people get rid of their cars or suddenly decide they can't drive to work anymore or will take the subway or whatever.

Severin Borenstein

It looked like money down a rat hole. I can certainly see why they'd be cautious now. Just because you're making an extra $35 a barrel doesn't mean you should be pouring that into exploration. - Severin Borenstein Quotes

It looked like money down a rat hole. I can certainly see why they'd be cautious now. Just because you're making an extra $35 a barrel doesn't mean you should be pouring that into exploration.

Severin Borenstein

Money

Unfortunately, sometimes you see big wealth transfers occur when something becomes scarce. - Severin Borenstein Quotes

Unfortunately, sometimes you see big wealth transfers occur when something becomes scarce.

Severin Borenstein

I think that's a big issue that a bankruptcy court is going to have to confront. What's the ongoing responsibility of the company and what's the legal liability in the contracts. - Severin Borenstein Quotes

I think that's a big issue that a bankruptcy court is going to have to confront. What's the ongoing responsibility of the company and what's the legal liability in the contracts.

Severin Borenstein

They continued to build and complete plants after it was clear the market was down. - Severin Borenstein Quotes

They continued to build and complete plants after it was clear the market was down.

Severin Borenstein

We're swimming in gasoline right now. But this is not a sustainable level. - Severin Borenstein Quotes

We're swimming in gasoline right now. But this is not a sustainable level.

Severin Borenstein

Next year, we'll quite likely have rates higher than this winter. The futures market for natural gas is telling us that these prices are not temporary. - Severin Borenstein Quotes

Next year, we'll quite likely have rates higher than this winter. The futures market for natural gas is telling us that these prices are not temporary.

Severin Borenstein

In general, you have to have a pretty serious market power concern before you go down this road [of price controls], because the chances of causing shortages and causing gas lines are quite significant. Hawaii seems to have designed this so it's much less likely to happen, and Hawaii has a credible argument to be made that they face a significant market power problem. - Severin Borenstein Quotes

In general, you have to have a pretty serious market power concern before you go down this road [of price controls], because the chances of causing shortages and causing gas lines are quite significant. Hawaii seems to have designed this so it's much less likely to happen, and Hawaii has a credible argument to be made that they face a significant market power problem.

Severin Borenstein

There has to be a recognition (that) we need to address this even if it requires sacrifices by individuals on a daily basis. - Severin Borenstein Quotes

There has to be a recognition (that) we need to address this even if it requires sacrifices by individuals on a daily basis.

Severin Borenstein

Clean coal does exist, but it's no more cost-effective than solar power. A 22% increase in funding is just not a Manhattan Project-type effort that we need. - Severin Borenstein Quotes

Clean coal does exist, but it's no more cost-effective than solar power. A 22% increase in funding is just not a Manhattan Project-type effort that we need.

Severin Borenstein

Power

It could increase vastly, but it depends entirely on policy. - Severin Borenstein Quotes

It could increase vastly, but it depends entirely on policy.

Severin Borenstein

(Liquefied natural gas) can be brought into a port at well below what California is paying right now for natural gas, and what we anticipate paying for many years to come. - Severin Borenstein Quotes

(Liquefied natural gas) can be brought into a port at well below what California is paying right now for natural gas, and what we anticipate paying for many years to come.

Severin Borenstein

We should be putting that money into research and development to improve the technology. - Severin Borenstein Quotes

We should be putting that money into research and development to improve the technology.

Severin Borenstein

Money

They are just the lucky beneficiaries of the tight world oil market. - Severin Borenstein Quotes

They are just the lucky beneficiaries of the tight world oil market.

Severin Borenstein

This is not something that is going to go away quickly. Oil supplies are limited, and we're coming to grips with that. - Severin Borenstein Quotes

This is not something that is going to go away quickly. Oil supplies are limited, and we're coming to grips with that.

Severin Borenstein

They make their money the same way you make money when you sell your house. - Severin Borenstein Quotes

They make their money the same way you make money when you sell your house.

Severin Borenstein

Money

The only way to save money is to shop around because even within cities there's still huge price difference, often 20 or more cents. - Severin Borenstein Quotes

The only way to save money is to shop around because even within cities there's still huge price difference, often 20 or more cents.

Severin Borenstein

The oil companies may be raising it a few cents, but that's not where the action is. - Severin Borenstein Quotes

The oil companies may be raising it a few cents, but that's not where the action is.

Severin Borenstein

There seems to be no political traction for reducing demand. Consumers don't want to hear about making any changes from the plentiful gasoline of the 1990s. And unfortunately, short of colonizing the Middle East ... there isn't a way back to that. - Severin Borenstein Quotes

There seems to be no political traction for reducing demand. Consumers don't want to hear about making any changes from the plentiful gasoline of the 1990s. And unfortunately, short of colonizing the Middle East ... there isn't a way back to that.

Severin Borenstein

They make oil and they own oil, and the price of oil has gone up. Every barrel of oil they make is worth more. - Severin Borenstein Quotes

They make oil and they own oil, and the price of oil has gone up. Every barrel of oil they make is worth more.

Severin Borenstein

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