But the key thing is that Iraq, while it's got very large oil reserves, has marginalized itself as an oil exporter and these days its exports are only about one tenth that of neighboring Saudi Arabia.

But that's not enough: To maintain energy security, one needs a supply system that provides a buffer against shocks. It needs large, flexible markets. And it's important to acknowledge the fact that the entire energy supply chain needs to be protected.

But eventually it's a question of access: Getting access to fields is on top of the oil companies' agenda. We see a substantial build-up of supply occurring over the coming years.

But the key thing is that Iraq, while it's got very large oil reserves, has marginalized itself as an oil exporter and these days its exports are only about one tenth that of neighboring Saudi Arabia.

Even Silicon Valley investors have put well over a $1 billion in new energy technologies.

A premium in the oil price of somewhere between 10 to 15 dollars a barrel reflects this heightened anxiety.

In the mid-1980s, operating problems took [nuclear] plants off-line so often that, on an annual basis, they operated at only about 55 percent of their rated total generating capacity. Today, as a result of several decades of experience and an intense focus on performance ... nuclear plants in the United States operate at over 90 percent of capacity. That improvement in operating efficiently is so significant in its impact that it can almost be seen as a new source in electric power itself.