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We need a reasonable price where producers will not start nagging. At a reasonable price, we can invest to produce more oil.

Today, there are also buyers and sellers of all these energy commodities, just like there are buyers and sellers of food commodities and many other commodities.

It is economically irrational to exclude large environmental costs from the balance sheets of the producers and the consumers. You are only kidding yourself if you export those costs on to society as a whole.

I think the producers, for the most part, don't want to see prices skyrocket because that will only create problems for them down the road and would also be a, you know, would be a very serious shock for a world economy that can't afford serious shocks right now.

Historically, there has been a bull market in commodities every 20 or 30 years.

I don't like that I'm my own commodity, that I am what I sell.

I have an eccentric view on commodities not necessarily shared by my colleagues - or by almost anybody. And that is, we're running out of everything.

The exchangeable value of all commodities, rises as the difficulties of their production increase.

When you look at a commodities market you need hedgers and speculators. If you don't have one, you don't have a market. That's how it works.

Well, there's no doubt about the fact that, that higher energy prices lead to greater conservation, greater energy efficiency, and they also, of course, play a useful role on the supply side.