“Even if the UK, France and the Western world, in general, will all go to 100 percent electric vehicles, that would be great, but that wouldn’t be enough…We still have less advanced economic economies that cannot do that switch.”
Ben van Beurden, CEO of Royal Dutch Shell (7/28)
“The fact is, oil at $50 a barrel makes Arctic oil uncompetitive. In terms of what’s going to happen down the road, I saw a World Bank report placed the oil in nominal dollars at $80 a barrel in 2030. That’s still way below break the price for Arctic oil.”
Stephen M. Carmel, senior vice president of Maritime Services at Maersk Line Ltd. (7/21)
“What oil companies and car companies are saying [about future sales of plug-in vehicles] is diverging. This is a trillion-dollar question, and someone is going to be wrong.”
Colin McKerracher, head of advanced transport analysis for Bloomberg New Energy Finance
“Here’s a little economics lesson, supply and demand: You put the supply [more coal] out there and the demand will follow that.”
US Energy Secretary Rick Perry, who was criticised by economists who point out that, typically, supply follows demand
“We will be dominant. We will export American energy all over the world, all around the globe. These energy exports will create countless jobs for our people, and provide true energy security to our friends, partners, and allies across the globe.”
U.S. President Donald Trump, in a speech [Ed. Note: possible hyperbole?]
“Shale oil is too expensive. Let’s concentrate on low-cost oil. Don’t tell me I need to invest in the highest technology barrels because low-cost oil is the answer to volatility and peak oil.”
Patrick Pouyanne, CEO of Paris-based Total, explaining why he isn’t expanding assets in the hot US shale oil market.
“This year’s [New Energy Outlook] report suggests that the greening of the world’s electricity system is unstoppable, thanks to rapidly falling costs for solar and wind power, and a growing role for batteries, including those in electric vehicles, in balancing supply and demand.”
Seb Henbest, Bloomberg’s New Energy Finance lead author
“As battery costs fall and their energy density increases, we could see cheaper battery-electric cars than their fuel-burning equivalents by 2030.”
Nikolas Soulopoulos, a London-based analyst with Bloomberg LP.
“President Trump is trying to erase all the climate and environmental progress we’ve made. We aren’t about to go down without a fight, and by joining this litigation, we are signaling to Congress our resolute and growing commitment to defending the Arctic and Atlantic permanent protections and halting the expansion of risky offshore drilling.”
Gene Karpinski, President of the League of Conservation Voters
“The key question for the future of the oil market is for how long can a surge in US shale supplies make up for the slow pace of growth elsewhere in the oil sector.”
–Fatih Birol, the IEA’s executive director
