The starting point for energy security today as it has always been is diversification of supplies and sources.

People always underestimate the impact of technology. To give you an example: In the 1970s the frontier for offshore development was 200 meters, today it is 4,000 meters.

It's extraordinary how inventive one can be with ethanol right now.

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

This has a lot to do with the unrest in Nigeria, but also with the production loss after the hurricanes in the Gulf of Mexico, the decline in Iraq since the 2003 war, and the decline in Venezuelan output since 2002.

The Russians are turning east to the Chinese - to the Europeans' surprise. It always seemed to me that the relationship between Russia and China would shift from being based in Marx and Lenin to being based in oil and gas.

We are living in a new age of energy supply anxiety.