Alex Turnbull

It's over in a week, you fix things.

But with these sorts of shocks, they are persistent and can do extraordinary long-term harm.

And this changes the calculus of, is that really a stable source of supply?

Many people say, okay, solar's not good when the sun's not shining or the wind's not blowing, but...

The sun rises again the next day, right?

If you have a war kickoff over critical straits, whether it's in the Red Sea or in the Persian Gulf, those problems tend not to go away the next morning.

And I think this is something which is a deep change which people need to internalize and think about.

Absolutely.

Yeah.

I think that is where it will invariably have to go.

You will insource energy because there are risks that have been underpriced for a long time.

And if you do price them, it kind of looks like a security cost, which looks a lot like a carbon cost, but it doesn't really matter.

That's just the better risk-adjusted source of supply.

I used to do a lot of jujitsu and judo.

You don't give someone an advantage,

willingly.

And I think we've got to think of our energy systems in the sense of, do you want to give your enemy a vote on things like your country's inflation rate, which is a great way to kick your government out in a democracy.

And so having this insecurity is something they can lever.

And it is abundantly clear by all the compulsive tweeting of the Iranian government.

They are trying to lever this and they are saying, I will inflict pain on you and that's how I'll get rid of you.