"Daniel Howard Yergin" is a Pulitzer Prize-winning American author, speaker, and economic researcher. Yergin is the co-founder and chairman of Cambridge Energy Research Associates, an energy research consultancy that is now part of IHS Inc. He is best known as author of The Prize: The Epic Quest for Oil, Money, and Power and The Quest: Energy, Security, and the Remaking of the Modern World.

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We're expecting another 20 cents more than where we are.

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Particularly the East Coast could soon be teetering on the edge of shortage.

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This is the fifth time that we're supposedly running out of oil.

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In real terms, consumers today are paying considerably less for gasoline than they did during World War I.

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Depending on what we learn in the next few days this may be the biggest oil-supply shock since the 1970s. We are now in the days of reckoning.

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When you adjust it for inflation, a year ago we were looking at gasoline prices that were cheaper than they had been during the Great Depression. So it was an extraordinary bargain.

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Gas prices are clearly reaching a level where it's a political problem for people, ... unless you empty [the reserve], it is a very temporary expedient. It does not affect the basic supply-and-demand problem.

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