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Pricey oil makes clear that wealth really is energy in various forms.

Oil wealth has been a curse on us, made us weak and docile.

A century ago, petroleum - what we call oil - was just an obscure commodity; today it is almost as vital to human existence as water.

Oil has become the principal wealth in the hands of the great Yankee transnationals; through this energy source, they had an instrument that considerably expanded their political power in the world.

Oil is a very important component of economic growth.

We have to get the oil where the oil is.

The country remains dependent on oil. But as we are now learning, oil is becoming increasingly scarce.

The one thing people seem to forget is the more oil we have, the lower the price and the lower the profits the oil companies make.

As I have said for many years throughout this land, we're borrowing money from China to buy oil from the Persian Gulf to burn it in ways that destroy the future of human civilization. Every bit of that has to change.

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.