Gal Luft Oil Quotations

Today there is a very thin layer of insulation in the oil market amounting to approximately one million barrels a day, meaning that every small disruption, be it a hurricane in the Gulf of Mexico or riots in Nigeria or instability in the Middle East, immediately creates a rise in prices. This situation will be with us for a long time because there is no new spare capacity. Building spare capacity requires an investment of billions of dollars to create infrastructure that may sit idle most of the time. Nobody will invest on those terms,

With the Chinese there are no strings attached. They don't talk to you about democracy or reform. They give money, the Saudis give oil and there are no hidden agendas. The Saudis find those kinds of relationships more appealing.

The president's initiative ties an oil savings target to a basket of energy solutions for homes and businesses, which have nothing to do with our oil problem.

We see attacks on a regular basis. Since the end of major military operations in April of 2003, there have been close to 250 attacks against oil pipelines, refineries and oil facilities and that has been pretty significant in reducing... up to a million barrels a day of potential production,

Oil prices are not going down, they're going up. And if you don't have a car that can deal with that, you're dead.

It makes no sense to tax ethanol coming in from friendly countries like Brazil when we do not tax oil imported from countries like Saudi Arabia.