We need to focus on renewables, to start with, for security reasons [and] for diversification reasons," he says. "I go back to what Winston Churchill, head of the British Royal Navy, said before World War I, when he was converting the Royal Navy from safe British coal to oil from Persia — Iran — and people said, 'This is really dangerous,' and he said, 'Safety in oil [lies] in variety and variety alone.' And I think that's still a fundamental starting point."
But security doesn't only mean protecting the country's oil infrastructure from enemies — it also means protecting the infrastructure from everything else that could happen.
"You know what's going to happen, and everybody agrees on what's going to happen, and then something else happens," Yergin says. "It could be everything from political crisis, as we've seen that affect oil supply, to natural disasters to technological breakthroughs. We have a very complex energy foundation that our $14 trillion economy rests upon."
The recent blackout in California and Arizona, for example, was the result of a chain reaction that started when an electrical worker mistakenly removed a piece of monitoring equipment. Yergin says there's an important lesson to be learned from that blackout.
"In general with energy, given how important it is to our economy, we need to be diversified," he says. "One of the big challenges we have is the growth of demand on a global basis, and there isn't one single solution that provides the answer."