"People always underestimate the impact of technology. To give you an example: In the 1970s the frontier for offshore development was 200 meters, today it is 4,000 meters"

This quote by Daniel Yergin speaks with the power of innovation and its capability to change markets. He uses the example of offshore advancement to illustrate this point. In the 1970s, the frontier for overseas development was 200 meters, suggesting that the furthest out to sea that advancement could take place was 200 meters. Nevertheless, due to advances in innovation, this frontier has actually been pressed out to 4,000 meters. This is a considerable increase and demonstrates the power of innovation to reinvent markets. Innovation has actually allowed us to check out further out to sea and develop resources that were formerly inaccessible. This quote serves as a tip of the power of technology and its ability to transform industries.