If you read Daniel Yergin’s book “The Prize: The Epic Quest for Oil, Money & Power” you already know a lot has happened since it was published in 2008. Called “the best history of oil ever written” by Business Week, the shale boom hadn’t happened yet; climate change wasn’t as much in the forefront as it is today; and the country wasn’t as fragmented in terms of political thought than it is in 2020. Of course, there wasn’t a global pandemic in sight at the time either.
This year, the winner of the Pulitzer Prize, IHS Markit vice-chairman, and recently named "Energy Writer of the Year” by the American Energy Society, knew it was the right time to re-examine the global energy landscape. In "The New Map: Energy, Climate, and The Clash of Nations,” Yergin looks at how the shale revolution transformed the American economy, but also introduced a “turbulent new era.” These days, energy’s role in climate change is ushering in a second revolution of sorts—the search for a low-carbon future.
In this video interview, Yergin discusses not only his latest book, but also the new energy landscape for the 2020s and beyond.
Jump to a Topic:
- Why it was time to write a new book (1:10)
- How energy transition is seen around the world (2:21)
- Different meanings of energy transition in the U.S. (3:37)
- Mixed energy system (5:35)
- Energy’s challenges with a Biden administration (6:47)
- Relationship between American shale and OPEC, OPEC+ (9:06)
- Views on oil and gas demand (11:25)
- Demand in Africa and developing nations (13:24)
- The importance of breakthrough technology (14:58)
- The state of the service sector (16:15)
- The next generation of the energy industry (18:17)
- Is oil and gas at a watershed moment? (20:46)
2022-05-18 - National Fuel touted the environmental benefits of the sale by its E&P segment Seneca Resources, including a 55% reduction in CO₂ equivalent emissions.
2022-05-13 - Even though the combined rig count has climbed for a record 21 months in a row through April, weekly increases have mostly been in single digits and oil production is still far below pre-pandemic record levels.
2022-05-20 - Baker Hughes said that puts the total rig count up 273, or 60%, over this time last year.
2022-04-29 - For the month, drillers added 28 oil and gas rigs, Baker Hughes said in its latest report.
2022-05-19 - Private operators will be a significant driver of the record growth as they have reacted quickly to the elevated market, increasing activity and output.