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Conscious Decoupling

Dan Yergin, the world-renowned energy consultant and Pulitzer-prize winning author.
Dan Yergin, the world-renowned energy consultant and Pulitzer-prize winning author. Photo: Jessica Rinaldi/The Boston Globe via Getty Images
William D. Cohan
August 2, 2023

Maybe you’ve noticed, but retail gasoline prices are creeping back up again. Late last year, the average price at the pump fell to nearly $3 a gallon, from a high of around $5 last summer. But over the past seven months, prices have been steadily trending upward again, to more than $3.75—increasing pressure on the Fed as it works to fight inflation without tipping the economy into recession. 

Curious about this price escalation, I turned to my friend Dan Yergin, the world-renowned energy consultant and Pulitzer-prize winning author of The Prize, and of the recent book The New Map: Energy, Climate, and the Clash of Nations. Dan, who is also vice chairman of S&P Global, understands as well as anyone the ever-changing vicissitudes of the energy market, its role in the 2024 presidential race, and the politically-charged topic of climate change, which feels especially important this summer, one of the hottest on record.