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David Brancaccio
super bowl of Energy From Marketplace, I'm Sabri Benishore in for David Brancaccio. The crisis in the Middle east has had a worse impact on oil than than both of the famous oil shocks of the 1970s combined. That is according to the head of the International Energy Agency. And that is the backdrop for an annual meeting this week of thousands of the most consequential energy companies in the world, sometimes called the super bowl of energy. Officially it's called Ciro Week, and speakers this year include US Energy Secretary Chris Wright, Venezuelan opposition leader and Nobel Peace Prize winner Maria Corina Machado, as well as executives from Shell, Chevron and even companies like Ford and Nvidia. Marketplace's Elizabet Troval has more.
Caller/Listener
Energy industry leaders are meeting at a time when war in the Middle east has caused a major disruption in the global supply of oil and gas. Dan Pickering is with Pickering Energy Partners.
Expert/Guest (e.g., Nate Soares or Energy Analyst)
We're in the middle of a conflict that's probably lasting longer than people expected, has taken different turns than people expected. There's a lot of questions about how will this play out and what's the longer term implication?
Caller/Listener
The energy world is at a pivotal point, says Atul Aria with S and P Global, which puts on the event.
Expert/Guest (e.g., Nate Soares or Energy Analyst)
I think what is happening now in the Middle east is probably the most monumental disruption in the world of energy in the entire history of modern energy world.
Caller/Listener
Thousands of people will attend syr a week, shelling out as much as $11,000 a ticket. Car Ingham with the Texas alliance of Energy Producers is keen on hearing how crude oil prices will be aff the Middle east war.
Expert/Guest (e.g., Nate Soares or Energy Analyst)
This is now shifting to a discussion about a longer term price scenario that is much higher, much higher than it has been for most of the last three or four years.
Caller/Listener
The conference will shed light on how companies are responding to a chaotic energy landscape. I'm Elizabeth Troval for Marketplace.
Expert/Guest (e.g., Nate Soares or Energy Analyst)
Foreign.
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David Brancaccio
On Friday, the White House announced a framework for how it wants Congress to govern artificial intelligence. Among the areas, it focuses on protecting children, respecting intellectual property rights, and getting the US workforce up to speed with AI. This technology has of course already disrupted jobs in many areas, but today we're looking at the disruption of all disruptions. AI as an existential threat to humanity. Every Monday, my colleague David Brancaccio has been checking on in on these kinds of threats to the future. Today a conversation with the Machine Intelligence Research Institute, or miri. Nate Soares is the president of miri and he spoke with David.
So I understand this. Does the Machine Intelligence Research Institute right now want our use of AI to stop? Right now?
Expert/Guest (e.g., Nate Soares or Energy Analyst)
It's not that the current use needs to stop. It's just that the race to make smarter and smarter machines that nobody understands need to stop. You know, you don't need to give up ChatGPT, you don't need to give up self driving cars. You don't need to give up on the medical advancements. It's really just this race to assemble far more specialized computer chips than anyone has assembled before and do a massive training run where no one knows the consequences. It's only that part on the frontier where we need to be pausing.
David Brancaccio
Who would be at the table, right, if you convened people who would chew on this issue. I mean it's not just computer scientists as much as we love them.
Expert/Guest (e.g., Nate Soares or Energy Analyst)
I mean it has to be politicians, it has to be world leaders and in fact it has to be international. You need international collaboration here. You know, we've seen people start trying to shut down data centers in their towns and you know, unfortunately an AI does not need to be running in the data center in your town in order to take your job. If these AIs are running anywhere on the planet, they can have the effects that people are hoping they won't have. And frankly, we need global coordination.
David Brancaccio
So I'm clear, when you talk of the potential for an existential risk here, that's not hyperbole.
Expert/Guest (e.g., Nate Soares or Energy Analyst)
That's correct. We're talking about the type of intelligence that humans have and that mice lack. That is something that these researchers are desperately trying to get into machines. And if they do, we're looking at machines that can invent their own technology, that can invent their own infrastructure. The issue then is not that they would hate us, it's just that we die like any other animal that where we took their habitat.
David Brancaccio
I heard a retired senior US diplomat just the other day refer to the eisenhower administration in 1957, knowing that atomic weapons could kill us all. Embrace the International Atomic Energy Agency, that diplomat said, we need that for AI. Would that be a model?
Expert/Guest (e.g., Nate Soares or Energy Analyst)
I think that would be a great model. You know, AI computer chips these days are very highly specialized. They can be made in only a few places in the world using tools that only exist in sometimes one place in the world. And to train a new AI, you don't just need a center for use. You need an enormous data center that takes as much electricity as a city. It would be pretty easy to control these computer chips and prevent people from these enormous new training runs where no one knows what's going to happen. All we really need is the political will.
David Brancaccio
Nate Soares is president of miri, the Machine Intelligence Research Institute based in Berkeley, California. He's co author of a new book called if Anyone Builds It, Everyone dies. Why superhuman AI. AI would kill us all. Mr. Soares, thank you.
Expert/Guest (e.g., Nate Soares or Energy Analyst)
Thanks for having me.
David Brancaccio
And Nate Soares was speaking there with Marketplace's David Brancaccio. All of our existential threat interviews will be available every Monday@Marketplace.org in New York. I'm Sabri Ben ashore with the Marketplace
Marketplace Host
morning report
David Brancaccio
from apm, American Public Media.
Hey, David Brancaccio here. I hope you're well and that your passport is up to date because I am hosting a trip to Italy this fall and you, you are invited stay at a world class Tuscan villa and step into the world of the Medici, the formidable family whose influence and power helped give rise to the renaissance and the art we still celebrate today. Not to mention the banking system. We're going to visit the world's oldest bank, swim in the thermal spa waters in Montecatini and take in the art of the Uffizi. All of this. And then we'll try to put it all into context with with great conversation over even better meals and wine tasting. Please join me and know this Buying into this trip will provide essential support for public media. Discover more about this fall's tuscany adventure@marketplace.org travel to reserve your spot today, that's marketplace.org travel.
This episode covers the global energy landscape amidst the ongoing Middle East crisis, highlights the influential annual energy conference CERAWeek (often called the “Super Bowl of Energy”), and dives into the existential risks of artificial intelligence (AI). The Marketplace team interviews industry experts on both topics, providing critical insights into how these forces are shaping markets and society.
Notable Segments:
01:34 – Current Situation
01:46 – Industry Perspective
“We’re in the middle of a conflict that's probably lasting longer than people expected, has taken different turns than people expected. There’s a lot of questions about how will this play out and what’s the longer-term implication?” (01:46)
02:07 – Historical Magnitude
“I think what is happening now in the Middle East is probably the most monumental disruption in the world of energy in the entire history of modern energy world.” (02:07)
02:32 – Price Outlook
“This is now shifting to a discussion about a longer term price scenario that is much higher, much higher than it has been for most of the last three or four years.” (02:32)
Industry Focus:
White House Framework: (03:38)
Conversation with Nate Soares, President of Machine Intelligence Research Institute (MIRI)
Notable Segments & Quotes:
04:25 – Does MIRI Want to Halt AI?
“It’s not that the current use needs to stop. It’s just that the race to make smarter and smarter machines that nobody understands need to stop. ... It’s really just this race to assemble far more specialized computer chips ... and do a massive training run where no one knows the consequences.” (04:32)
05:10 – Who Should Address the Issue?
“It has to be politicians, it has to be world leaders and in fact it has to be international. ... If these AIs are running anywhere on the planet, they can have the effects that people are hoping they won’t have. ... We need global coordination.” (05:10)
05:38 – Existential Risk Realism
“That’s correct. ... If [AI researchers] do [succeed], we’re looking at machines that can invent their own technology, that can invent their own infrastructure. ... The issue then is not that they would hate us, it’s just that we die like any other animal that — where we took their habitat.” (05:46)
06:11 – International Governance Model
“I think that would be a great model. ... It would be pretty easy to control these computer chips and prevent people from these enormous new training runs where no one knows what’s going to happen. All we really need is the political will.” (06:28)
Middle East crisis severity:
“The crisis in the Middle east has had a worse impact on oil than both of the famous oil shocks of the 1970s combined.” – Marketplace (00:52)
AI existential threat simplicity:
“It’s not that they would hate us, it’s just that we die like any other animal that — where we took their habitat.” – Nate Soares, MIRI (05:46)
The call for global coordination:
“If these AIs are running anywhere on the planet, they can have the effects that people are hoping they won’t have. ... We need global coordination.” – Nate Soares, MIRI (05:10)
This episode connects the oil industry’s real-time response to unprecedented geopolitical shocks with the broader, longer-term challenge of managing existential technological risks, providing listeners with succinct but weighty business and policy insights.