The starting point for energy security today as it has always been is diversification of supplies and sources. Daniel Yergin diversificationenergypoint Change image and share on social
The North Sea was supposed to run out in the 1980s. Then in the 1990s. And now production is still on-line. Daniel Yergin 1980s1990sline Change image and share on social
If a war started, the oil price probably would go up, as you said, maybe $5, $6 a barrel until you saw other oil from the extra supplies that are available elsewhere coming into the world, into the market. Daniel Yergin barrelcomeextra share on social
We experienced similar fears in the 1880s, at the end of World War I and II. And we ran out in the 1970s. Daniel Yergin 1880s1970send Change image and share on social
People always underestimate the impact of technology. To give you an example: In the 1970s the frontier for offshore development was 200 meters, today it is 4,000 meters. Daniel Yergin 0001970sdevelopment Change image and share on social
But that's not enough: To maintain energy security, one needs a supply system that provides a buffer against shocks. It needs large, flexible markets. And it's important to acknowledge the fact that the entire energy supply chain needs to be protected. Daniel Yergin acknowledgebufferchain share on social
A premium in the oil price of somewhere between 10 to 15 dollars a barrel reflects this heightened anxiety. Daniel Yergin anxietybarreldollar Change image and share on social
First, we have to find a common vocabulary for energy security. This notion has a radically different meaning for different people. For Americans it is a geopolitical question. For the Europeans right now it is very much focused on the dependence on imported natural gas. Daniel Yergin americancommondependence share on social
So the major obstacle to the development of new supplies is not geology but what happens above ground: international affairs, politics, investment and technology. Daniel Yergin affairdevelopmentgeology Change image and share on social
Clearly, the Chinese need the resources, but I don't think they want to clash with the industrial world which happens to be the market for their goods. Daniel Yergin chineseclashgood Change image and share on social
