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

Soaring prices for crude oil, falling production surpluses, wild speculation in commodities, a rush into the precious metals, turmoil in the Middle East, assertive oil producers: it is 1973-74 all over again, and at dictation speed.

The great disadvantage of getting older is to be obliged to relive the salient economic events of one's youth, with nothing learned and nothing forgotten.

James Buchan Quotes