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George P. Shultz: On the Cusp of Two Very Important Revolutions

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Published on Feb 28, 2014

As part of our ongoing partnership with the Hoover Institution at Stanford University, we spoke with former Secretary of State George P. Shultz, Distinguished Fellow and Chair of the Energy Policy Task Force at Hoover, about the changing international landscape and America's role in it.

Shultz points out that in the wake of two world wars, the United States took the lead in building an economic and security commons that benefited the whole world. Now that commons is eroding. The world is less orderly.

He says we are on the cusp of two very important revolutions:

1. Fracking: Technology has opened up natural gas reserves and crude oil reserves in the US which will be a boon to our economy and security.

2. Research & Development: A significant number of first-class scientists and engineers are working on alternative energy.

If we keep fueling these two revolutions, we will rebuild the commons we fought so hard for after the world wars.

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