Uploaded July 2026 | Updated September 2026, 3 weeks ago
Oil prices are once again on the rise—and this time, they may not come down so quickly. With the Strait of Hormuz once again shut down and the Houthis attempting to block Saudi exports through the Red Sea, crude prices seem set to soar. In addition, global reservoirs of crude haven’t been restored, and China may drop its export curbs.
Beyond the immediate price shock, how will countries and companies adapt their behavior in the longer term? What will the current energy crises mean for key choke points, trading relationships, and how economies explore renewables? Daniel Yergin, the economic historian and energy guru known for his books such as The New Map, The Quest and The Prize, winner of the 1992 Pulitzer Prize, joined FP Live to share his insights.
Watch the interview at ForeignPolicy.com: foreignpolicy.com/live/daniel-yergin-energy-after-shock-iran-strait-hormuz
0:00 Intro
2:15 The biggest energy crisis in modern times
3:28 Why aren’t oil prices higher?
5:18 China’s strategic oil reserves
9:10 Short-term price projections
12:28 Long-term changes
17:13 The U.S. energy landscape
20:12 Private sector
23:58 Will energy demand peak?
26:50 The energy transition
30:33 Climate change & clean energy
34:00 Nuclear energy
35:40 Geothermal energy
36:52 Winners and losers
On the go? Listen to FP Live as a podcast at link.chtbl.com/foreignpolicylivepodcast or wherever you get your podcasts.
FP Live is Foreign Policy's forum for live journalism that brings leading foreign-policy experts and thinkers together to analyze the world's biggest events. Visit foreignpolicy.com/live for the full conversation and more live journalism from Foreign Policy.
Subscribe to Foreign Policy's Youtube Channel: youtube.com/channel/UC1x_EgZtYkAzVavuONBrLZQ?sub_confirmation=1
Visit foreignpolicy.com to read the latest global news and analysis from FP.
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Oil prices are once again on the rise—and this time, they may not come down so quickly. With the Strait of Hormuz once again shut down and the Houthis attempting to block Saudi exports through the Red Sea, crude prices seem set to soar. In addition, global reservoirs of crude haven’t been restored, and China may drop its export curbs.
Beyond the immediate price shock, how will countries and companies adapt their behavior in the longer term? What will the current energy crises mean for key choke points, trading relationships, and how economies explore renewables? Daniel Yergin, the economic historian and energy guru known for his books such as The New Map, The Quest and The Prize, winner of the 1992 Pulitzer Prize, joined FP Live to share his insights.
Watch the interview at ForeignPolicy.com: foreignpolicy.com/live/daniel-yergin-energy-after-shock-iran-strait-hormuz
0:00 Intro
2:15 The biggest energy crisis in modern times
3:28 Why aren’t oil prices higher?
5:18 China’s strategic oil reserves
9:10 Short-term price projections
12:28 Long-term changes
17:13 The U.S. energy landscape
20:12 Private sector
23:58 Will energy demand peak?
26:50 The energy transition
30:33 Climate change & clean energy
34:00 Nuclear energy
35:40 Geothermal energy
36:52 Winners and losers
On the go? Listen to FP Live as a podcast at link.chtbl.com/foreignpolicylivepodcast or wherever you get your podcasts.
FP Live is Foreign Policy's forum for live journalism that brings leading foreign-policy experts and thinkers together to analyze the world's biggest events. Visit foreignpolicy.com/live for the full conversation and more live journalism from Foreign Policy.
Subscribe to Foreign Policy's Youtube Channel: youtube.com/channel/UC1x_EgZtYkAzVavuONBrLZQ?sub_confirmation=1
Visit foreignpolicy.com to read the latest global news and analysis from FP.
Follow Foreign Policy:
X - twitter.com/ForeignPolicy
Instagram - instagram.com/foreignpolicymag
Facebook - facebook.com/foreign.policy.magazine
LinkedIn - linkedin.com/company/foreign-policy-magazine
TikTok - tiktok.com/@foreignpolicymagazine
