In this episode, we are joined by Helen Thompson, Professor of Political Economy at the University of Cambridge, and co-host of the popular podcast from UnHerd, These Times. We discuss how energy has become a key issue in political economy, which Thompson’s work is a key example of. Our conversation moves to discussing the differences and similarities with the development of an oil-based global economy in the 20th century to the current energy transition. We examine China’s specific advantages in mining and minerals for the energy transition and how the West, specifically the United States, is trying to catch up. Just as states were crucial to the development of oil in the 20th century, it is likely that states will again play a central role in the energy systems of the future.
Takeaways
The field of political economy has seen a shift towards the study of the geopolitics of energy, particularly in relation to the energy transition.
China has geopolitical advantages in terms of metals production and processing, which has implications for global power dynamics.
The concentration of resources, whether it's energy or metals, in certain regions can lead to geopolitical competition and tensions.
The United States and China are engaged in a competition in the energy sector, with the US challenging China's dominance and intensifying the competition.
The energy transition requires a more active state involvement, whether through state ownership or providing capital for the transition.
The energy transition poses challenges in terms of infrastructure development, such as rebuilding the electricity grid and retrofitting buildings.
Interdisciplinary thinking and collaboration are crucial in addressing the complexities of the energy transition.
Links:
Adam Smith's Panmure House:
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Professor Adam Dixon:
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Helen Thompson:
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