New Enlightenment

The Geopolitics of the Energy Transition with Helen Thompson

May 17, 2024

Helen Thompson, a Professor of Political Economy at the University of Cambridge and co-host of the podcast These Times, delves into the geopolitical dynamics of the energy transition. She discusses how today’s energy landscape mirrors 20th-century oil economies, emphasizing state involvement's crucial role. The conversation highlights China's advantages in minerals for renewable energy and the escalating competition with the U.S. Insights into how energy policies intersect with electoral dynamics and future interdisciplinary collaborations make for a compelling listen.

01:05:36

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Episode guests

Helen Thompson

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Quick takeaways

The shift in political economy emphasizes the critical interplay between energy politics and national identity amidst global transitions.

China's control over essential minerals for energy transition escalates geopolitical competition with the United States aiming for supply chain independence.

Deep dives

The Resurgence of Political Economy

Political economy has seen a resurgence since the 2008 financial crash, which highlighted the profound political consequences of the international financial system. This period shifted the focus from a technocratic to a politically engaged understanding of the economy, with an emphasis on how economic changes intertwine with democratic stability and national identity. The events of 2016, notably Brexit and the rise of Trump, further fueled this interest, as scholars looked to explain the economic underpinnings of these political shifts. The discourse has evolved to recognize the importance of merging economic analysis with political realities, making political economy an essential lens for interpreting contemporary global challenges.

Intro

5min

Energy and Political Economy: A Post-2008 Shift

9min

Energy and Political Economy: A Critical Intersection

7min

Geopolitics of Energy Transition

27min

Electoral Impact of Energy Transition

13min

Fostering Interdisciplinary Collaboration for Energy Transition

3min

Exploring Future Projects and Perspectives on Energy

2min

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

⁠Adam Dixon

Dr Helen Thompson Dr Helen Thompson Twitter

Dr Helen Thompson's book: Disorder