Daniel Yergin

You want a diversified portfolio of your energy investments as well.

And I don't mean that as in companies, but in terms of where you get your supplies and where you get them from.

And I think it's not like there's any, people always want a miracle solution.

There's not a miracle solution to providing the energy for $120 trillion world economy.

but diversification and not cutting the budgets for research and development and technology because we do need new answers as we look out into the century.

But for now, it turns out oil and gas are still pretty darn important.

Well, thank you.

And as you said, it could not be more timely, but things do change very quickly.

Yes.

Well, it was that, in fact, the nightmare scenario that had been not only for energy but for strategic planners for decades had happened.

I think it's one of those things that people looked at as a scenario but thought it would never happen.

But then it happened, and it does change the world, and it changes the way people think about energy.

We've had supply chain shocks, but this was the mother of all supply chain shocks in terms of the closure of the Strait of Hormuz.

Yeah, the second cousin removed.

I mean, it was like- Remember, we had two different prices going at the same time.

We had the Brent, the futures price,

Which was always saying, well, this is going to end and prices are going to come down.

And then there was the dated Brent, the near term, which said, we are having a major dislocation and prices are really going up.

And we'd never seen that dislocation on that scale before.

It was like two different visions of the world almost.