Japan Must Tame Wind Power Costs; Data May Use 10% ofAll Power by 2030: Yergin

January 20, 2025|Decarbonization / Geopolitics

π·π‘Žπ‘›π‘–π‘’π‘™ π‘Œπ‘’π‘Ÿπ‘”π‘–π‘› 𝑖𝑠 π‘Ž π‘›π‘Žπ‘šπ‘’ π‘ π‘¦π‘›π‘œπ‘›π‘¦π‘šπ‘œπ‘’π‘  π‘€π‘–π‘‘β„Ž π‘’π‘›π‘’π‘Ÿπ‘”π‘¦ 𝑒π‘₯π‘π‘’π‘Ÿπ‘‘π‘–π‘ π‘’. 𝐴 π‘ƒπ‘’π‘™π‘–π‘‘π‘§π‘’π‘Ÿ π‘ƒπ‘Ÿπ‘–π‘§π‘’-𝑀𝑖𝑛𝑛𝑖𝑛𝑔 π‘Žπ‘’π‘‘β„Žπ‘œπ‘Ÿ π‘Žπ‘›π‘‘ 𝑣𝑖𝑐𝑒 π‘β„Žπ‘Žπ‘–π‘Ÿπ‘šπ‘Žπ‘› π‘œπ‘“ 𝑆&𝑃 πΊπ‘™π‘œπ‘π‘Žπ‘™, π‘Œπ‘’π‘Ÿπ‘”π‘–π‘› β„Žπ‘Žπ‘  𝑠𝑝𝑒𝑛𝑑 π‘‘π‘’π‘π‘Žπ‘‘π‘’π‘  π‘šπ‘Žπ‘π‘π‘–π‘›π‘” π‘‘β„Žπ‘’ π‘–π‘›π‘‘π‘Ÿπ‘–π‘π‘Žπ‘‘π‘’ π‘–π‘›π‘‘π‘’π‘Ÿπ‘π‘™π‘Žπ‘¦ 𝑏𝑒𝑑𝑀𝑒𝑒𝑛 π‘’π‘›π‘’π‘Ÿπ‘”π‘¦, π‘”π‘’π‘œπ‘π‘œπ‘™π‘–π‘‘π‘–π‘π‘ , π‘Žπ‘›π‘‘ π‘‘β„Žπ‘’ π‘”π‘™π‘œπ‘π‘Žπ‘™ π‘’π‘π‘œπ‘›π‘œπ‘šπ‘¦. 𝐻𝑖𝑠 π‘ π‘’π‘šπ‘–π‘›π‘Žπ‘™ π‘€π‘œπ‘Ÿπ‘˜π‘ , 𝑖𝑛𝑐𝑙𝑒𝑑𝑖𝑛𝑔 π‘‡β„Žπ‘’ π‘ƒπ‘Ÿπ‘–π‘§π‘’ π‘Žπ‘›π‘‘ π‘‡β„Žπ‘’ 𝑁𝑒𝑀 π‘€π‘Žπ‘, β„Žπ‘Žπ‘£π‘’ π‘π‘’π‘π‘œπ‘šπ‘’ π‘’π‘ π‘ π‘’π‘›π‘‘π‘–π‘Žπ‘™ π‘Ÿπ‘’π‘Žπ‘‘π‘–π‘›π‘” π‘“π‘œπ‘Ÿ π‘π‘œπ‘™π‘–π‘π‘¦π‘šπ‘Žπ‘˜π‘’π‘Ÿπ‘  π‘Žπ‘›π‘‘ π‘–π‘›π‘‘π‘’π‘ π‘‘π‘Ÿπ‘¦ π‘™π‘’π‘Žπ‘‘π‘’π‘Ÿπ‘  π‘›π‘Žπ‘£π‘–π‘”π‘Žπ‘‘π‘–π‘›π‘” π‘Žπ‘› π‘’π‘Ÿπ‘Ž π‘œπ‘“ π‘’π‘›π‘’π‘Ÿπ‘”π‘¦ π‘‘π‘Ÿπ‘Žπ‘›π‘ π‘–π‘‘π‘–π‘œπ‘› π‘Žπ‘›π‘‘ π‘”π‘’π‘œπ‘π‘œπ‘™π‘–π‘‘π‘–π‘π‘Žπ‘™ π‘’π‘β„Žπ‘’π‘Žπ‘£π‘Žπ‘™. π‘Šπ‘–π‘‘β„Ž β„Žπ‘–π‘  π‘ π‘–π‘”π‘›π‘Žπ‘‘π‘’π‘Ÿπ‘’ π‘Žπ‘π‘–π‘™π‘–π‘‘π‘¦ π‘‘π‘œ 𝑑𝑖𝑠𝑑𝑖𝑙𝑙 π‘π‘œπ‘šπ‘π‘™π‘’π‘₯ π‘‘π‘¦π‘›π‘Žπ‘šπ‘–π‘π‘  π‘–π‘›π‘‘π‘œ π‘π‘™π‘’π‘Žπ‘Ÿ π‘–π‘›π‘ π‘–π‘”β„Žπ‘‘π‘ , π‘Œπ‘’π‘Ÿπ‘”π‘–π‘› β„Žπ‘Žπ‘  π‘’π‘Žπ‘Ÿπ‘›π‘’π‘‘ π‘Ž π‘Ÿπ‘’π‘π‘’π‘‘π‘Žπ‘‘π‘–π‘œπ‘› π‘Žπ‘  π‘œπ‘›π‘’ π‘œπ‘“ π‘‘β„Žπ‘’ π‘“π‘œπ‘Ÿπ‘’π‘šπ‘œπ‘ π‘‘ π‘£π‘œπ‘–π‘π‘’π‘  𝑖𝑛 π‘’π‘›π‘’π‘Ÿπ‘”π‘¦ π‘Žπ‘›π‘Žπ‘™π‘¦π‘ π‘–π‘ .

𝑂𝑛 π½π‘Žπ‘› 13, 𝑖𝑛 π‘Šπ‘Žπ‘ β„Žπ‘–π‘›π‘”π‘‘π‘œπ‘› 𝐷𝐢, π‘Œπ‘’π‘Ÿπ‘”π‘–π‘› π‘šπ‘’π‘‘ π‘€π‘–π‘‘β„Ž π‘Ž π‘ π‘šπ‘Žπ‘™π‘™ π‘Žπ‘’π‘‘π‘–π‘’π‘›π‘π‘’ π‘‘π‘œ π‘ β„Žπ‘Žπ‘Ÿπ‘’ β„Žπ‘–π‘  π‘π‘’π‘Ÿπ‘ π‘π‘’π‘π‘‘π‘–π‘£π‘’π‘  π‘œπ‘› π‘‘β„Žπ‘’ π‘ β„Žπ‘–π‘“π‘‘π‘–π‘›π‘” π‘ π‘Žπ‘›π‘‘π‘  π‘œπ‘“ π‘’π‘›π‘’π‘Ÿπ‘”π‘¦ π‘ π‘’π‘π‘’π‘Ÿπ‘–π‘‘π‘¦, π‘‘β„Žπ‘’ π‘Ÿπ‘œπ‘™π‘’ π‘œπ‘“ π‘Ÿπ‘’π‘›π‘’π‘€π‘Žπ‘π‘™π‘’π‘  𝑖𝑛 π‘‘π‘’π‘π‘Žπ‘Ÿπ‘π‘œπ‘›π‘–π‘§π‘Žπ‘‘π‘–π‘œπ‘›, π‘Žπ‘›π‘‘ π‘‘β„Žπ‘’ π‘–π‘šπ‘π‘™π‘–π‘π‘Žπ‘‘π‘–π‘œπ‘›π‘  π‘œπ‘“ 𝑛𝑒𝑀 π‘Žπ‘™π‘™π‘–π‘Žπ‘›π‘π‘’π‘  π‘Žπ‘›π‘‘ π‘Ÿπ‘–π‘£π‘Žπ‘™π‘Ÿπ‘–π‘’π‘  π‘ β„Žπ‘Žπ‘π‘–π‘›π‘” π‘‘β„Žπ‘’ π‘”π‘™π‘œπ‘π‘Žπ‘™ π‘’π‘›π‘’π‘Ÿπ‘”π‘¦ π‘™π‘Žπ‘›π‘‘π‘ π‘π‘Žπ‘π‘’. 𝐻𝑒 π‘‘π‘Žπ‘™π‘˜π‘’π‘‘ π‘Žπ‘π‘œπ‘’π‘‘ π½π‘Žπ‘π‘Žπ‘›, π‘‡π‘Ÿπ‘’π‘šπ‘, π‘Žπ‘›π‘‘ β„Žπ‘œπ‘€ 𝐡𝑖𝑔 π‘‡π‘’π‘β„Ž 𝑀𝑖𝑙𝑙 π‘‘π‘’π‘‘π‘’π‘Ÿπ‘šπ‘–π‘›π‘’ π‘‘β„Žπ‘’ π‘“π‘’π‘‘π‘’π‘Ÿπ‘’ π‘œπ‘“ π‘’π‘›π‘’π‘Ÿπ‘”π‘¦.

It was striking for me to see what I call the β€˜enduring lessons’ of The Prize, and also to see what it didn’t cover. We can go through the lessons that stand out and the two things that really were not in the book – one is the importance of energy security, which is so strong [today]. Secondly, energy is fundamentally now a strategic commodity. Third, there’s 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 – 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.

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