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Oil Prices Quotes
It costs governments money to keep fuel prices low. Oil-rich Yemen, for instance, devotes 9 percent of its GDP to making sure its people don't riot when oil prices rise.
The rise in world oil prices has been larger than anyone forecast.
Instead of begging OPEC to drop its oil prices, let's use American leadership and ingenuity to solve our own energy problems.
Israel will not tolerate Iran developing nuclear power, even if Iran claims it is for peaceful purposes. If there is an attack, oil prices will go through the roof.
I don't think anyone can speculate what will happen with respect to oil prices and gas prices because they are set on the global economy.
Oil prices have certainly become a threat for the world economy.
Moderation of oil prices would be very, very welcome. But overall I think we are in a position of stable growth, sustainable growth, and basically with inflation in check.
John W. Snow
You know, oil prices from 2007, on the strength of a very robust global economy and a very robust emerging China, many of you will recall, ramped up to near $150 a barrel. Then we had the financial - U.S. financial collapse. Oil prices collapsed all the way down to $40 a barrel.
Lower oil prices won't, by themselves, topple the mullahs in Iran. But it's significant that, historically, when oil prices have been low, Iranian reformers have been ascendant and radicals relatively subdued, and vice versa when prices have been high.
Stocks in the United States plunged in 2002 amid fears of war and terrorism, a weak economy, rising oil prices and dozens of corporate scandals. It was the third consecutive annual decline, the first time that has happened in 60 years.
I think we have to ask this administration, and the President specifically, about using their political capital now to stand up for the American consumer who is getting clobbered by these gasoline and oil prices.
Having yet another vote on refinery legislation that uses high oil prices as an excuse to weaken environmental protections and to give more legislative gifts to the oil industry is misguided in the extreme.
When Texans suffered from the collapse of the oil market in the 1980s, they could rely on the fiscal union to help them. When Texas boomed with rising oil prices in the 2000s, it contributed to the union to help harder hit regions.
We have seen a strong increase in oil prices and up to this year we see that the world has been able to absorb that.
If global oil prices or commodity prices are high, then it is bound to create inflation. So, we should not be too worried if the inflation is created by global commodity prices. When they come down, inflation will automatically come down.
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