I see the argument going either way or, even, both.
(Oh, please not both!)
"Energy" is both. The evidence is all around you. You have only to examine your monthly utility bills (to "discover" the values of variables of the supplier's model). To populate a database of rates, then deduce cost structure of one or more suppliers given prevailing commodity prices (e.g. spot, futures), requires some greater investigatory um rigor. Diversity is the key to economic and political evolution.
