π·πππππ ππππππ ππ π ππππ π π¦ππππ¦πππ’π π€ππ‘β ππππππ¦ ππ₯ππππ‘ππ π. π΄ ππ’πππ‘π§ππ ππππ§π-π€ππππππ ππ’π‘βππ πππ π£πππ πβππππππ ππ π&π πΊπππππ, ππππππ βππ π ππππ‘ πππππππ πππππππ π‘βπ πππ‘πππππ‘π πππ‘ππππππ¦ πππ‘π€πππ ππππππ¦, ππππππππ‘πππ , πππ π‘βπ ππππππ πππππππ¦. π»ππ π ππππππ π€ππππ , πππππ’ππππ πβπ ππππ§π πππ πβπ πππ€ πππ, βππ£π ππππππ ππ π πππ‘πππ πππππππ πππ ππππππ¦ππππππ πππ ππππ’π π‘ππ¦ πππππππ πππ£ππππ‘πππ ππ πππ ππ ππππππ¦ π‘ππππ ππ‘πππ πππ ππππππππ‘ππππ π’πβπππ£ππ. πππ‘β βππ π πππππ‘π’ππ ππππππ‘π¦ π‘π πππ π‘πππ πππππππ₯ ππ¦ππππππ πππ‘π πππππ πππ ππβπ‘π , ππππππ βππ ππππππ π ππππ’π‘ππ‘πππ ππ πππ ππ π‘βπ πππππππ π‘ π£πππππ ππ ππππππ¦ πππππ¦π ππ .
ππ π½ππ 13, ππ πππ βππππ‘ππ π·πΆ, ππππππ πππ‘ π€ππ‘β π π ππππ ππ’ππππππ π‘π π βπππ βππ ππππ ππππ‘ππ£ππ ππ π‘βπ π βπππ‘πππ π ππππ ππ ππππππ¦ π πππ’πππ‘π¦, π‘βπ ππππ ππ πππππ€πππππ ππ ππππππππππ§ππ‘πππ, πππ π‘βπ ππππππππ‘ππππ ππ πππ€ πππππππππ πππ πππ£ππππππ π βπππππ π‘βπ ππππππ ππππππ¦ πππππ ππππ. π»π π‘πππππ ππππ’π‘ π½ππππ, πππ’ππ, πππ βππ€ π΅ππ πππβ π€πππ πππ‘ππππππ π‘βπ ππ’π‘π’ππ ππ ππππππ¦.
How has the global energy landscape changed since The Prize was written?
It was striking for me to see what I call the βenduring lessonsβ of The Prize, and also to see what it didnβt cover. We can go through the lessons that stand out and the two things that really were not in the book β one is the importance of energy security, which is so strong [today]. Secondly, energy is fundamentally now a strategic commodity. Third, thereβs the element of innovation and constant change in technology. And one more thing, there are hundreds of characters in The Prize, but there are only two characters that matter β one is called Supply and the other is Demand. You see that over and over again. I was kind of struck going back and reading about gasoline prices. The [government] hearings that took place in the 1920s sounded as if they could have been taking place in the 21st century. There is a failure to recognize that Supply and Demand, and not machinations, determine market price.
πβππ ππ ππ ππ₯πππππ‘ ππππ π π&π΄ π ππ π πππ ππ‘ π‘βπ π΄π‘ππππ‘ππ πΆππ’ππππ ππ πππ βππππ‘ππ π·πΆ ππ π½πππ’πππ¦ 13.