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A review by venkyloquist
The New Map: Energy, Climate, and the Clash of Nations by Daniel Yergin
4.0
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.
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.