00:00And in your op-ed, you mentioned that 80 percent of the energy mix still highly dependent on fossil fuels.
00:07And I want to ask your opinion whether you see this crisis accelerating the transition of energy away from fossil
00:16fuels.
00:16What do you think will be the sort of the legacy of this?
00:19Well, I think you will see demand destruction. The question is, how long will demand destruction last?
00:25And the question for that, again, is how deep will it be? How long will it last?
00:36The other question is here, you will obviously see coal, especially when it comes to power production.
00:44You look at India, you look at China, they will opt for coal because coal is there and it gives
00:51them energy security.
00:53And that's something they need for their economies.
00:56But in the very long run, you know, we need every drop of oil.
01:01We need every molecule of gas. We need every bit of coal, every sunray, every wind and every drop of
01:08water for hydropower.
01:09Because by 2050, we will have two billion people more on planet Earth.
01:19And they will be in the global south. They will be in Africa.
01:22They'll be in South Asia. And they will have huge needs for energy, for transportation, for lighting, for all of
01:30these things.
01:30So we will not get a round oil. But I agree with you in the short to medium term, there
01:37is demand destruction.
01:38But I'm pretty sure it will come back because it has to come back because we'll have so many more
01:45people on planet Earth.
01:46Thank you very much.
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