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“Historically, the United States has had a wonderful energy policy. We're blessed with a diversity of resources. We have oil. We have gas. We have coal. We have nuclear. And renewables. And as a result, one of our biggest competitive advantages has been affordable energy. You need a strong economy and you need affordable energy to fuel that economy.”

“In Texas, years ago, almost all of the oil came from surface operations. Then someone got the idea that there were greater sources of supply deeper down. A well was drilled five thousand feet deep. The result? A gusher. Too many of us operate on the surface. We never go deep enough to find supernatural resources. The result is, we never operate at our best. More time and investment is involved to go deep but a gusher will pay off.”

“Such is the nature of the marriage relation that a breach once made cannot be healed, and it is the height of folly to waste one's life in vain efforts to make a binary compound of two diverse elements. What would we think of the chemist who should sit twenty years trying to mix oil and water, and insist upon it that his happiness depended upon the result of the experiment?”

“Rather, risk is a perception in each investor's mind that results from analysis of the probability and amount of potential loss from an investment. If an exploratory oil well proves to be a dry hole, it is called risky. If a bond defaults or a stock plunges in price, they are called risky. But if the well is a gusher, the bond matures on schedule, and the stock rallies strongly, can we say they weren't risky when the investment after it is concluded than was known when it was made.”

“Some people say that the West has a cruel history. These people also may see the achievements of Western countries - in terms of the economy, education, health, and social achievements - as a result of exploitation of poorer countries, including Arab countries. Western nations get rich by using resources such as Arab oil. Meanwhile, the countries supplying them raw materials remain poor. Due to such injustices, jealousies are created.”