Daniel Yergin

And then in this pale male rush of overspending created inflation, dislocated the economy.

So, I mean, it's a good question for study to look at it on a comparative basis what worked and didn't work.

And it isn't just oil and it isn't just money.

There are other things that are involved as well.

I mean, clearly there was a huge religious reaction led by the Al-Atari Khomeini against modernization, against the role of women.

I mean, the Shah was saying women can get educated, play major roles in their economy.

And that was not something that the very conservative...

clerics could stand.

So it isn't just about oil and just about money, but it's part of a larger mix.

Well, I mean, there are others that are well-run, but Aramco is a very well-run company because I think they did, you know, you described it before, they rather smoothly did their transition and retained, and their people are highly trained.

I mean, you know, if you go to Aramco, you meet people who have PhDs from MIT or Stanford or, you know, University of Texas.

They have a very well-trained global workforce and a very high standard.

But I think they drew upon initially the cultures of the companies that were eventually nationalized out of the business, but the people were trained.

Yeah.

Well, I think one that is in the new map and that you and I have talked about is the meeting with Prime Minister Modi in India, where India was really at a crucial point, whether to get out of, in a book you probably don't know that I did called The Commanding Heights, in the permit Raj, where government really tightly controlled the economy.

And I describe a scene in the book where he brought his senior advisors together to argue about whether you allow market forces to work or not.

And it was a very heated discussion and then I just remember his remarks, we need new thinking.

And just those simple words, I think, have pointed to how India has become so much of a bigger force in the world economy today, as opposed to being a sort of enclosed, closed economy.

I thought we were already in 2024.

Okay.