Yergin tells the story of how vital energy is to geopolitics. He argues that a new global map is being shaped by geopolitics and energy. It is a dynamic map that is constantly changing based on actions taken by nations and their relationship to energy and climate goals. The new politics of climate include reducing carbon emissions and expanding renewable sources of energy. The map is also being changed by the effects of the coronavirus.
Yergin outlines how shale oil production changed America’s position in the world from oil importer to exporter. He also explains how new cold wars are developing between the United States and Russia and the United States and China and the role that energy plays in them.
Yergin spends a good amount of time outlining the history of oil and natural gas development and discovery in multiple countries including the United States, Saudi Arabia, Syria, and Russia. He also outlines how energy has played a role in international relations. For example he spends time explaining the relationship between Russia and Ukraine regarding the pipelines that deliver energy to Europe or the building of Nord Stream I and Nord Stream II. He also describes the history of pipelines in the United States such as the Keystone XL pipeline.
Yergin speaks about the United States reliance on financial sanctions and the net impact that will have on the financial stability of the United States. “There is a risk that the commanding position of the United States derived from its capital markets and the dollar could be eroded over time by the over reliance on financial sanctions because nations will find alternatives.”
He discusses innovation in the car industry and the effects that will have on energy. He outlines the trajectory of electric vehicles and how without government subsidies the consumer of today is more likely to choose a gasoline powered vehicle because the costs are too high if passed along to the consumer. He also discusses self driving cars.
He closes by looking at climate policy and how that will effect the future. He acknowledges that oil and natural gas are required for the world economy to run and they will be for some time to come. With the amount of the world that is under developed energy needs will continue to grow and will shape the geopolitics of the new map.
Overall I give this book 4 stars out of 5.
“The system of private property is the most important guaranty of freedom, not only for those who own property, but scarcely less for those who do not.”
Friedrich August von Hayek
Alexander walked down 7th Avenue for several minutes. The sheer number of people walking down the street was astounding. Many of them held small rectangular devices in their hands. Many of them also had strange ear coverings. Alexander continued to walk and soon found himself in Times Square. The flashing billboards and millions of illuminated pixels were dizzying.
Truly this was a remarkable civilization. The magnitude of their grandeur was unprecedented. Alexander could tell that this square was a shrine. As he had traveled to see the Oracle at Delphi so too had many thousands of people travel to this site. Was there something holy about it? What insights could be gathered from this glittering acropolis?
Amidst the jarring sounds of what must have been music Alexander gravitated towards a crowd that appeared to be watching something. As he drew closer he noticed a performer. Alexander watched the gyrations of the man’s body as the crowd cheered. Alexander was witnessing his first break dancing performance. He watched as the performer skipped around the rectangle formed by the crowd collecting money. Once he had secured the amount he was looking for he continued to perform. Alexander watched dispassionately as the performer spun on his head and then back before jumping onto his feet and concluding ...
