History of oil and politics. Worth a read.

Great overview of the global oil & gas energy system and its geopolitics, ending with the (technological, societal, political) changes underway in light of decarbonization. The latter part is a little light / carried few new insights to me, other than a reminder of what a gargantuan task it will be to replace the vast oil & gas infrastructure that we've built our societies on.

Wow. I was hooked by Yergin's writing style from the beginning — I really couldn't put this one down. It's also the first book I've read that incorporates the coronavirus into its analysis and predictions, which was pretty fascinating. This book is a lot of things: a history of the energy industry, a surprisingly thorough 20th and 21st century geopolitical primer, an ominous warning of the consequences of a worsening China-US relationship, and a brief foray into the world of climate change, renewables and new mobility. But I think, above all, this book is is a reinforcement of the mind-bending number of forces and motives at play in the world of energy. Trillions upon trillions of dollars at stake, energy security/independence concerns, climate change, bitter clashes of nations, a global pandemic, energy infrastructure lock-in, advancing renewable energy technology, energy equity issues, petrostates, the rise in green lawmaking, and so much more. Will we figure it out?

What's the point of writing a book if you don't have anything new to say? It's a decent (if dull) regurgitation of information but it lacks insight. A better subtitle would be "a history of oil and geopolitics."

This book was a feat, encompassing all of the key themes of modern history that make the present what it is today. Yergin deftly reveals the ways geopolitics, energy, macroeconomics and industry, and technological innovation are inextricably bound to one another, and how these ties impact everyday life from world leaders and industry execs, to entrepreneurs, to every day people wanting to get from point A to point B. I don’t think I ever thought I’d read (listen) to a book that talked as adeptly about the complexities of conflict in the Middle East, as about Elon Musk and the rise of the electric vehicle. I feel I’ve come away from this book definitely with more knowledge, and a better understanding of how the world around me works.

Along with Vaclav Smil, Daniel Yergin has to be the best writer plying his wares on the energy sector today. He strikes vintage form with "The New Map." Broadly splitting the book into four territories covering USA, Russia, China and the Middle East, Yergin holds forth on the changing paradigms in the energy landscape. From the politics of pipelines to the uproar over unilaterally imposed sanctions, the master craftsman prises open the lid hiding many an intricacy of the Oil and Gas business that spurs the world.

Whether it be the expeditionary Belt and Road Initiative of China or the Look East pivot of Vladimir Putin, Yergin highlights in a lucid fashion the role played by Oil in all of these economic and political overtures. But some of the most important chapters are those where the Middle Eastern/Gulf countries comprising the premier petroleum world body the OPEC are constantly striving to get out of their oil dependency. The efforts of the charismatic Mohammad Bin Salman (popularly known as MBS), the Crown Prince of the Republic of Saudi Arabia, in attempting to transform the very ethos of his country by ushering in radical reforms such as allowing women to drive, re-opening of movie theatres (hitherto considered taboo) etc are all attempts to lure 'non-oil' related investments into the Kingdom. However, as Yergin illustrates his most audacious move till date (discounting the heinous bravado in sending a hit squad to murder in cold blood, the popular journalist Adnan Kashoggi), has been the move to publicly list the largest oil company on the Planet Saudi Aramco. With a market valuation of $2 trillion the listing in itself was an epochal and unimaginable process.

Yergin also expounds on the future of oil in the light of ever popular energy alternatives such as solar and wind power, Carbon Capture Use and Sequestering and the employ of Hydrogen. As he educates his viewers, the associated costs and impediments brought on by the vagaries of nature such as intermittent sunlight and wind, ensure that the progress in terms of renewables is putting it mildly, pedestrian. However, Oil will face a tumultuous future when Electric Vehicles and driverless cars make a mark on the world economics.

Meticulously researched, methodically presented and magnificently narrated, "The New Map" is an indispensable addition to the collection of anyone having an interest in the domain of energy in general, and Oil & Gas segment in particular.