Daniel Yergin

And if you can get it to 10% or 12%, it will go on longer.

So I think, at least if we look out a few decades, the US will continue to be a big producer of oil unless something dramatically changes.

And even longer, we have very abundant gas.

Forever, things can change, policy can change.

If you have a Bernie Sanders administration someday, it will be a very different picture than what we have today.

Well, I feel what I'm struck by is the continuity that the Iranian oil workers went on strike in 1978.

And that was the beginning of the Iranian revolution.

And then the second revolution where the Islamists captured the whole system and chanted death to America.

So in a sense, it's like this war has been brewing for 47 years.

But, you know, it is interesting because, of course, you know, oil was discovered in then Persia and Iran in 1908.

And Winston Churchill made the decision to convert the Royal Navy from coal to oil.

And it was going to be dependent on Iranian oil.

And in parliament, people were saying, you're going to be dependent on Persia.

That's very dangerous.

And he came up with, well, first of all, he said the prize of the venture is world mastery itself.

And that's where I got the title of the book from.

And then he said the basic axiom of energy security, which is on variety in oil, is variety is the source of safety, diversification.

So that continues to be the principle, even though at that point he was making the Royal Navy very dependent upon Iran, Persia.

But so it is, you know, how central Iran has been to the oil story since 1908.

And here it is today.