London and Washington, November 20th, 2013

“The sum of new oil production needed, according to the International Energy Agency, would be fully six times the production of Saudi Arabia at the time. It was clear to me in reading between the lines of the IEA report, in watching the body language of officials as they presented it, and in comments made to me and some journalists in confidence that the then IEA leadership didn’t think there was a snowball’s chance in hell of pulling this off. How quickly things changed in the next three years.”