Daniel Yergin — Oil destroyed Hitler, fracking destroyed Putin

Energy, particularly oil, has served as the fundamental engine of economic development and a primary driver of global geopolitics for over a century. From the early days of kerosene lighting to the modern era of motorized transport, oil’s strategic value has dictated the rise and fall of nations. The U.S. shale revolution fundamentally altered this landscape, granting the United States energy independence and providing a critical geopolitical counterweight to Russian influence. While the transition to renewables and electrification is underway, it faces significant hurdles, including mineral supply chain constraints and the surging electricity demand from AI-driven data centers. Understanding these shifts requires looking beyond mere statistics to the human agency, risk-taking, and historical contingency that define energy history. Daniel Yergin, a leading authority on energy and author of *The Prize*, highlights how these complex dynamics continue to shape the global order.