Daniel Yergin (S&P Global) on The Troubled Energy Transition

The podcast explores the troubled state of the energy transition, questioning whether it's truly replacing fossil fuels or merely adding to them. Daniel Yergin, Vice Chairman of S&P Global, discusses the complexities of achieving climate goals in the face of energy security, economic growth, and geopolitical realities. He points out the increasing importance of natural gas, driven by the growing demand for electricity from AI and the needs of developing countries. Yergin highlights trade-offs, such as the mineral constraints and China's dominance in the supply chain, which complicate the shift to renewables. He also addresses the high costs associated with the transition, the potential for "greenlash" in Europe, and the necessity for continued investment in fossil fuels to avoid energy crises.