Daniel Yergin on Energy’s New Map

Delivering sustainable economic growth
Jul 16, 2022 | IMF, Daniel Yergin, Bruce Edwards

None of the energy crises of the early 1970s, 1980s, and the early 2000s were so intertwined with other emergencies like a war in Europe, climate change, and a global COVID-19 pandemic. In this IMF podcast, Pulitzer Prize winner Daniel Yergin and Bruce Edwards discuss where today’s energy markets are headed and interrogate the geopolitics of an energy transition from hydrocarbons to renewable energy. Yergin says renewables use a lot more minerals than people realize and will move countries from the world of “big oil” to a world of “big shovels” – increased mining. They emphasise the need for a balanced approach as the growth of wind and solar will not be the whole answer and that oil and gas with carbon abatement will be an important part of a future mix.

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