So the major obstacle to the development of new supplies is not geology but what happens above ground: international affairs, politics, investment and technology.

If a war started, the oil price probably would go up, as you said, maybe $5, $6 a barrel until you saw other oil from the extra supplies that are available elsewhere coming into the world, into the market.

The starting point for energy security today as it has always been is diversification of supplies and sources.

Even Silicon Valley investors have put well over a $1 billion in new energy technologies.

This has a lot to do with the unrest in Nigeria, but also with the production loss after the hurricanes in the Gulf of Mexico, the decline in Iraq since the 2003 war, and the decline in Venezuelan output since 2002.

A premium in the oil price of somewhere between 10 to 15 dollars a barrel reflects this heightened anxiety.

The North Sea was supposed to run out in the 1980s. Then in the 1990s. And now production is still on-line.

Cycles of shortage and surplus characterize the entire history of oil.

We are living in a new age of energy supply anxiety.

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.

We are living in a different world now. You can see it everywhere in international relations: It was noteworthy that, after his visit to Washington, the Chinese president's next stop was Saudi Arabia.

It's extraordinary how inventive one can be with ethanol right now.

But that's not enough: To maintain energy security, one needs a supply system that provides a buffer against shocks. It needs large, flexible markets. And it's important to acknowledge the fact that the entire energy supply chain needs to be protected.

Clearly, the Chinese need the resources, but I don't think they want to clash with the industrial world which happens to be the market for their goods.

So the major obstacle to the development of new supplies is not geology but what happens above ground: international affairs, politics, investment and technology.

First, we have to find a common vocabulary for energy security. This notion has a radically different meaning for different people. For Americans it is a geopolitical question. For the Europeans right now it is very much focused on the dependence on imported natural gas.

The Russians are turning east to the Chinese - to the Europeans' surprise. It always seemed to me that the relationship between Russia and China would shift from being based in Marx and Lenin to being based in oil and gas.

The bulk of extra supplies that could be put into the market come from two places. One, they come from other Persian Gulf suppliers, of which Saudi Arabia is at the top of the list.

The other are the strategic, so-called strategic stocks that the United States and the other Western industrial countries have, which could put in as much as four million barrels a day of oil into the market pretty quickly.

But the key thing is that Iraq, while it's got very large oil reserves, has marginalized itself as an oil exporter and these days its exports are only about one tenth that of neighboring Saudi Arabia.

We experienced similiar fears in the 1880s, at the end of World War I and II. And we ran out in the 1970s.

In a couple of years, the Chinese will be seen as regular participants in international industry. Their companies have to report to shareholders as well as to the Chinese authorities. They need to make money, they have to be efficient.

People always underestimate the impact of technology. To give you an example: In the 1970s the frontier for offshore development was 200 meters, today it is 4,000 meters.

But eventually it's a question of access: Getting access to fields is on top of the oil companies' agenda. We see a substantial build-up of supply occurring over the coming years.

We experienced similar fears in the 1880s, at the end of World War I and II. And we ran out in the 1970s.

We need to keep investing in economic and homeland security. We need to bank on the right kind of economic development. We need to embrace opportunities, but with the right kind of safeguards.

The other great development has been in photography, but that too was influenced by Conceptual art.

The education of my brother and myself was of paramount importance to my parents, and in addition to their strong encouragement, they were prepared to make any sacrifice to further our intellectual development.

While I recognize the great value and importance of prescription drugs and strongly support a continued U.S. focus on pharmaceutical research and development, our nation's seniors cannot be asked to subsidize the drug costs of other wealthy industrialized nations any longer.

Hence the same instant which killed the animals froze the country where they lived. This event was sudden, instantaneous, without any gradual development.

In my fifty years of experience and memory, I have seen the most amazing increase in the standard of living of a people ever achieved anywhere in the world. This is why I am so sure that our system of free competition and industrial development is sound and must be preserved.

Be unselfish. That is the first and final commandment for those who would be useful and happy in their usefulness. If you think of yourself only, you cannot develop because you are choking the source of development, which is spiritual expansion through thought for others.

I was much involved in the development of the spark chamber as a practical research tool.

As a scouting department, with the confidence we have in our player development, if a guy has the potential that we think they have and the makeup and they stay healthy, we think they will be a productive Major Leaguer. We take a lot of pride in that.

Clearly, programming courses should teach methods of design and construction, and the selected examples should be such that a gradual development can be nicely demonstrated.

One of the biggest development issues in the world is the education of girls. In the United States and Europe, it has been accepted, but not in Africa and the developing countries.

Practically the only way to dry the swamp of radical Islam is through economic development and an improved standard of living.

I tend to arrive in the rehearsal process with very strongly developed ideas about what I want to do. But I don't like those ideas to be things that are not subject to change, or subject to development, or subject to challenge.

There are not many males, black or white, who wish to get involved with a woman who's committed to her own development.

Manufacturers account for nearly 60 percent of all industrial research and development.

During my nearly five years as director-general of WHO, high-level policymakers have increasingly recognized that health is central to sustainable development.

Software development is technical activity conducted by human beings.

Those who decide to use leisure as a means of mental development, who love good music, good books, good pictures, good plays, good company, good conversation - what are they? They are the happiest people in the world.

Research and development needs permanent tax credits to build the technology that spurs our growth. But no government programs alone can get America's students to study more science and math; parents must push and help their children to meet this goal.

Why did human development proceed at such different rates on different continents for the last 13,000 years?

It's actually not unlike Google at that stage of development. They had an up-and-running site. It wasn't losing very much money, it wasn't making very much money, but it was growing.

The distinction between the old and the new formulations consisting in the incorporation of the concept of the rate of chemical reactions is so great that it immediately asserted itself in the objective development of catalysis.

Close contact between science and the practice of collective farms and State farms creates inexhaustible opportunities for the development of theoretical knowledge, enabling us to learn ever more and more about the nature of living bodies and the soil.

Of all work-schools, a good farm is probably the best for motor development.