Daniel Yergin – Oil Explains the Entire 20th Century

Daniel Yergin, a leading authority on energy, discusses the history of oil and its impact on the 20th century. He recounts the early days of the oil industry, highlighting the risk-taking personalities of figures like Rockefeller and Drake, and the rapid deployment of oil technologies. The conversation explores oil's centralizing force, driven by kerosene's role in lighting, and the antitrust case against Standard Oil. Yergin details how oil became a strategic commodity during World War I, influencing military technology and geopolitical power. The discussion further examines the rise of OPEC, the 1973 oil crisis, and the implications of U.S. energy independence through fracking, as well as the potential impact of AI on future energy demand.