William Ramsay
FameRank: 4

"Sir William Ramsay" Order of the Bath/KCB Fellow of the Royal Society of London/FRS Fellow of the Royal Society of Edinburgh/FRSE (1852–1916) was a Scottish chemist who discovered the noble gases and received the Nobel Prize in Chemistry in 1904 "in recognition of his services in the discovery of the inert gaseous elements in air" (along with his collaborator, Lord Rayleigh, who received the Nobel Prize in Physics that same year for their discovery of argon). After the two men identified argon, Ramsay investigated other atmospheric gases. His work in isolating argon, helium, neon, krypton and xenon led to the development of a new section of the periodic table.

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There needs to be a better assessment of what the vulnerabilities are and what constitutes vulnerability.

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The good news is that China, India and Indonesia don't much like pollution either... but they've got to deal with the politics of energy development and pricing.

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It's shocking. There is no fundamental reason. Prices are talked up by politics, stock levels and security concerns.

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It's not an easy topic because it gets at some fairly delicate issues. The source of some of the smuggling, who's involved, means it is probably not that easy a topic to tackle.

169

Russia has done some serious damage to its otherwise-good reputation for security of supply. Europe is going to have to take a hard look at their exposure and whether there's a way to fix that.

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As Indonesia confronts its subsidies, and as other countries begin to move prices closer to market levels, it takes some of the incentives for smuggling out.

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And the same thing applies to coal.

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It's hard to say we had been thinking about this sort of problem. The traditional supply disruption you think about is a political one, like the 1973-1974 embargo. Here, you had a situation where a local refining problem could become a global one.

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But this particular incident is probably going to raise questions that maybe some product stocks would be in order. I'm not sure that anyone anticipated the kind of devastation we've seen in those refineries.

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