Daniel Yergin Interview In The Calgary Herald

Cambridge, Mass-based Yergin has chaired the U.S. Department of Energy's Task Force on Strategic Energy Research and Development, and is a board member of the United States Energy Association and a member of the U.S. National Petroleum Council. He is also the only foreign member of the Russian Academy of Oil and Gas and a "Wise Man" of the International Gas Union. Yergin is a distinguished visiting fellow at Yale University's centre for globalization, a trustee of the Brookings Institution, a board member of the New America Foundation, a director of the U.S.-Russia Business Council and an adviser to the International Institute for Economics. Herald economics reporter Geoffrey Scotton spoke recently with Yergin about the recent breaching of the $100 US per barrel level for crude oil, which Yergin describes as "a very strong psychological measure." All figures are in U.S. dollars. Question: What does $100 oil mean? Answer: At one level, it's a record and it's a score. But really, if you dissected that price, it tells a lot of what's going on in the world. It's telling us about the strength of the global economy, in particular Asia and particularly in China. It's telling us about mounting geopolitical fear of risk of disruption, in terms of, particularly, Iran and Iraq. It's certainly telling a story about the weakening of the (U.S.) dollar and the continuing weakening of the dollar. It's telling us that there is a series of small disruptions, interruptions. http://www.canada.com/calgaryherald/news/calgarybusiness/story.html?id=52caf69b-b17f-4a4e-8180-2121ed07c8cc&k=56308

Note: http://www.canada.com/c...