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Soaring prices for crude oil, falling production surpluses, wild speculation in commodities, a rush into the precious metals, turmoil in the Middle East, assertive oil producers: it is 1973-74 all over again, and at dictation speed.

James Buchan

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James Buchan
Age: 70
Born: 1954
Born: June 11
Journalist
Novelist
James Ernest Buchan
Hon. James Ernest Buchan
Middle
Production
Crude
Fall
Productions
Soar
Surpluses
Producers
Speculation
Dictation
Precious
Metals
Soaring
Falling
Prices
Commodities
Wild
Commodity
Assertive
Speed
Rush
Surplus
East
Oil
Turmoil

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The world survived the fall of the Roman empire and will no doubt outlast our own so much more splendid civilisation.
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We read too much Shakespeare at school, and view our parliamentary politics as dynastic drama, in which an impatient crown prince frets at his long subordination and begins to scheme for the throne he knows he merits, was promised and has earned.
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The aircraft that blew up the World Trade Center in New York and the Pentagon in Washington conveyed several messages to the world, of which one of the least remarked is this: the Muslims of the world are suffering.
James Buchan
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One of the consequences of the Iranian revolution has been an explosion of history. A country once known only from British consular reports and intrepid travelogues is now awash with historical documents, letters, diaries, grainy video, weblogs and secret police files of questionable authenticity.
James Buchan
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We generally write best of what we ourselves have seen.
James Buchan
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My belief, for what it is worth, is that city dwellers cannot understand the world. Insulated from reality by complex and expert systems of provision and police, baffled by fashion and spectacle, city dwellers can distinguish neither the sources of their existence nor the consequences.
James Buchan
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In rising financial markets, the world is forever new. The bull or optimist has no eyes for past or present, but only for the future, where streams of revenue play in his imagination.
James Buchan
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The prevailing ideology of the modern west - which is political economy - is in the doghouse. Having failed to notice atmospheric pollution, the economists then frightened themselves with the sort of financial crisis they said they had abolished.
James Buchan
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There are about 15 million Muslims in the EU. They face ignorance, insult and even persecution. They cannot be wished away. To impose Enlightenment freedoms is self-defeating. Anyway, the Muslims have their own enlightenment.
James Buchan
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Cause and effect, the riddle of all history, is a particular devil in financial history and never more so than today, where entire classes of security are collapsing not on public exchanges and stock-tickers but because there are no markets to establish prices this side of nothing.
James Buchan
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The dividing line between wish and need was never clear.
James Buchan
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Saudi Arabia operates according to the belief that God made young men and women so utterly and completely without self-control that they must be physically segregated every moment of the day and night.
James Buchan
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Whatever else it was, Adolf Hitler's short-lived regime was also a colossal industrial process by which the wealth and productive power of much of Europe was wrenched from its normal purposes and converted into a machine for killing.
James Buchan
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Nature is not simply a technical or economical resource, and human beings are not mere numbers. To suggest that one can somehow align all the squabbling institutions of science, environmental management, government and diplomacy in an alliance of convenience to regulate the global climate seems to me optimistic.
James Buchan
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To make a love story, you need a couple of young people, but to reflect on the nature of love, you're better off with old ones. That is a fact of life and literature - and of the novel ever since it fell in love with love in the 18th century.
James Buchan
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What holds an Arab leader in power is a mixture of violence and prestige. Both President Assad and King Hussein were felt to have defended Arab interests against the world. That, in the end, is more important than what they wear on their head.
James Buchan
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Europe and North America, we are told, are less dependent on energy-intensive heavy industry than in the 1960s and 1970s. It seems we squeeze more GDP out of a barrel of oil than in those benighted days.
James Buchan
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Governments of rich countries spend some $6bn of tax money a year on disaster relief and development aid overseas, while each new earthquake, famine or tidal wave can attract 1,000 aid organisations, from the United Nations Children's Fund and Oxfam to the 'Jesus Brigades' of the American south and other charitable adventurers.
James Buchan
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The truth is, of course, that history is not completed in modern commerce any more than philosophy is perfected in political economy. In other words, there is nothing timeless or God-given about filling stations and penicillin and plastic bags.
James Buchan
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It is time to end the western policy of malign neglect. It is in the interest of the whole world to help tackle the actual grievances in Palestine, Kashmir, and in central and southern Iraq, and to help the region out of its economic backwardness.
James Buchan