to drive up the price of oil and, in so doing, “bankrupt” the West. The region also confronts the turmoil arising from the dissatisfaction of a huge bulge of young people for whom education and employment opportunities are lacking and whose expectations are far from being met.
There are many other kinds of risks and dangers. It is an imperative to anticipate them, prepare for them, and ensure the resilience to respond—so as not to have to conclude after the fact, in the stark words of a Japanese government report on the Fukushima Daiichi disaster, that “consistent preparation” was “insufficient.”
In terms of the environment, the third theme, the enormous strides have been made to address traditional pollution concerns. But when people in earlier decades focused on pollutants coming out of the tailpipe, they were thinking about smog, not about CO2 and global warming. Environmental consciousness has expanded massively since the first Earth Day in 1970. In this century climate change has become a dominant political issue and central to the future of energy. This shift has turned greenhouse gases into a potent rationale for rolling back the supremacy of hydrocarbons and for expanding the role of renewables.
Yet most forecasts show that much of what will be the much larger energy needs two decades from now—75 to 80 percent—are currently on track to be met as they are today, from oil, gas, and coal, although used more efficiently. Or will the world shift toward what Lord Kelvin thought was needed and Admiral Rickover doubted was possible—a new age of energy, a radically different mix that relies much more heavily on renewables and alternatives—wind, solar, and biofuels, among others—perhaps even from sources that we cannot identify today? What kind of energy mix will meet the world’s energy needs without crisis and confrontation?
Whatever the answers, innovation will be critical. Perhaps not surprisingly, the emphasis on innovation across the energy spectrum is greater than ever before. That increases the likelihood of seeing the benefits from what General Georges Doriot, the founder of modern venture-capital investing, called “applied science” being successfully applied to energy.
The lead times may be long owing to the scale and complexity of the vast system that supplies energy, but if this is to be an era of energy transition, then the $6 trillion global energy market is “contestable.” That is, it is up for grabs among the incumbents—the oil, gas, and coal companies that supply the bulk of today’s energy—and the new entrants—such as wind, solar, and biofuels—that want to capture a growing share of those dollars. A transition on this scale, if it does happen, has great significance for emissions, for the wider economy, for geopolitics, and for the position of nations.
The first section of this book describes the new, more complex world of oil that has emerged in the decades since the Gulf War. The essential drama of oil—the struggle for access, the battle for control, the geopolitics that shape it—will continue to be a decisive factor for our changing world. China, which two decades ago hardly figured in the global energy equation, is central to this new world. This is true not only because it is the manufacturing “workshop of the world,” but also because of the “build-out of China”—the massive national construction project that is accommodating the 20 million people who are moving each year from rural areas into cities.
Part II centers on energy security and the future of supply. Will the world “run out” of oil? If not, where will it come from? The new supply will include natural gas, with its growing importance for the global economy. The rapid expansion of liquefied natural gas is creating another global energy market. Shale gas, the biggest energy innovation since the start of the new century, has turned what was an imminent shortage in the United States into what may be a hundred-year supply and may do the same elsewhere in the world. It is dramatically changing the competitive positions for everything from nuclear energy to wind power. It has also stoked, in a remarkably short time, a new environmental debate.
Part III is about the age of electricity. Ever since Thomas Edison fired up his power station in Lower Manhattan, the world has become progressively more electrified. In the developed world, electricity is taken for granted and yet the world cannot operate without it. For developing countries, shortages of electricity take their toll on people’s lives and on economic growth.
Today, a host of new devices and gadgets that did
The Quest - By Daniel Yergin - Page 1 The Quest - By Daniel Yergin - Page 2 The Quest - By Daniel Yergin - Page 3 The Quest - By Daniel Yergin - Page 4 The Quest - By Daniel Yergin - Page 5 The Quest - By Daniel Yergin - Page 6 The Quest - By Daniel Yergin - Page 7 The Quest - By Daniel Yergin - Page 8 The Quest - By Daniel Yergin - Page 9 The Quest - By Daniel Yergin - Page 10 The Quest - By Daniel Yergin - Page 11 The Quest - By Daniel Yergin - Page 12 The Quest - By Daniel Yergin - Page 13 The Quest - By Daniel Yergin - Page 14 The Quest - By Daniel Yergin - Page 15 The Quest - By Daniel Yergin - Page 16 The Quest - By Daniel Yergin - Page 17 The Quest - By Daniel Yergin - Page 18 The Quest - By Daniel Yergin - Page 19 The Quest - By Daniel Yergin - Page 20 The Quest - By Daniel Yergin - Page 21 The Quest - By Daniel Yergin - Page 22 The Quest - By Daniel Yergin - Page 23 The Quest - By Daniel Yergin - Page 24 The Quest - By Daniel Yergin - Page 25 The Quest - By Daniel Yergin - Page 26 The Quest - By Daniel Yergin - Page 27 The Quest - By Daniel Yergin - Page 28 The Quest - By Daniel Yergin - Page 29 The Quest - By Daniel Yergin - Page 30 The Quest - By Daniel Yergin - Page 31 The Quest - By Daniel Yergin - Page 32 The Quest - By Daniel Yergin - Page 33 The Quest - By Daniel Yergin - Page 34 The Quest - By Daniel Yergin - Page 35 The Quest - By Daniel Yergin - Page 36 The Quest - By Daniel Yergin - Page 37 The Quest - By Daniel Yergin - Page 38 The Quest - By Daniel Yergin - Page 39 The Quest - By Daniel Yergin - Page 40 The Quest - By Daniel Yergin - Page 41 The Quest - By Daniel Yergin - Page 42 The Quest - By Daniel Yergin - Page 43 The Quest - By Daniel Yergin - Page 44 The Quest - By Daniel Yergin - Page 45 The Quest - By Daniel Yergin - Page 46 The Quest - By Daniel Yergin - Page 47 The Quest - By Daniel Yergin - Page 48 The Quest - By Daniel Yergin - Page 49 The Quest - By Daniel Yergin - Page 50 The Quest - By Daniel Yergin - Page 51 The Quest - By Daniel Yergin - Page 52 The Quest - By Daniel Yergin - Page 53 The Quest - By Daniel Yergin - Page 54 The Quest - By Daniel Yergin - Page 55 The Quest - By Daniel Yergin - Page 56 The Quest - By Daniel Yergin - Page 57 The Quest - By Daniel Yergin - Page 58 The Quest - By Daniel Yergin - Page 59 The Quest - By Daniel Yergin - Page 60 The Quest - By Daniel Yergin - Page 61 The Quest - By Daniel Yergin - Page 62 The Quest - By Daniel Yergin - Page 63 The Quest - By Daniel Yergin - Page 64 The Quest - By Daniel Yergin - Page 65 The Quest - By Daniel Yergin - Page 66 The Quest - By Daniel Yergin - Page 67 The Quest - By Daniel Yergin - Page 68 The Quest - By Daniel Yergin - Page 69 The Quest - By Daniel Yergin - Page 70 The Quest - By Daniel Yergin - Page 71 The Quest - By Daniel Yergin - Page 72 The Quest - By Daniel Yergin - Page 73 The Quest - By Daniel Yergin - Page 74 The Quest - By Daniel Yergin - Page 75 The Quest - By Daniel Yergin - Page 76 The Quest - By Daniel Yergin - Page 77 The Quest - By Daniel Yergin - Page 78 The Quest - By Daniel Yergin - Page 79 The Quest - By Daniel Yergin - Page 80 The Quest - By Daniel Yergin - Page 81 The Quest - By Daniel Yergin - Page 82 The Quest - By Daniel Yergin - Page 83 The Quest - By Daniel Yergin - Page 84 The Quest - By Daniel Yergin - Page 85 The Quest - By Daniel Yergin - Page 86 The Quest - By Daniel Yergin - Page 87 The Quest - By Daniel Yergin - Page 88 The Quest - By Daniel Yergin - Page 89 The Quest - By Daniel Yergin - Page 90 The Quest - By Daniel Yergin - Page 91 The Quest - By Daniel Yergin - Page 92 The Quest - By Daniel Yergin - Page 93 The Quest - By Daniel Yergin - Page 94 The Quest - By Daniel Yergin - Page 95 The Quest - By Daniel Yergin - Page 96 The Quest - By Daniel Yergin - Page 97 The Quest - By Daniel Yergin - Page 98 The Quest - By Daniel Yergin - Page 99 The Quest - By Daniel Yergin - Page 100 The Quest - By Daniel Yergin - Page 101 The Quest - By Daniel Yergin - Page 102 The Quest - By Daniel Yergin - Page 103 The Quest - By Daniel Yergin - Page 104 The Quest - By Daniel Yergin - Page 105 The Quest - By Daniel Yergin - Page 106 The Quest - By Daniel Yergin - Page 107 The Quest - By Daniel Yergin - Page 108 The Quest - By Daniel Yergin - Page 109 The Quest - By Daniel Yergin - Page 110 The Quest - By Daniel Yergin - Page 111 The Quest - By Daniel Yergin - Page 112 The Quest - By Daniel Yergin - Page 113 The Quest - By Daniel Yergin - Page 114 The Quest - By Daniel Yergin - Page 115 The Quest - By Daniel Yergin - Page 116 The Quest - By Daniel Yergin - Page 117 The Quest - By Daniel Yergin - Page 118 The Quest - By Daniel Yergin - Page 119 The Quest - By Daniel Yergin - Page 120 The Quest - By Daniel Yergin - Page 121 The Quest - By Daniel Yergin - Page 122 The Quest - By Daniel Yergin - Page 123 The Quest - By Daniel Yergin - Page 124 The Quest - By Daniel Yergin - Page 125 The Quest - By Daniel Yergin - Page 126 The Quest - By Daniel Yergin - Page 127 The Quest - By Daniel Yergin - Page 128 The Quest - By Daniel Yergin - Page 129 The Quest - By Daniel Yergin - Page 130 The Quest - By Daniel Yergin - Page 131 The Quest - By Daniel Yergin - Page 132 The Quest - By Daniel Yergin - Page 133 The Quest - By Daniel Yergin - Page 134 The Quest - By Daniel Yergin - Page 135 The Quest - By Daniel Yergin - Page 136 The Quest - By Daniel Yergin - Page 137 The Quest - By Daniel Yergin - Page 138 The Quest - By Daniel Yergin - Page 139 The Quest - By Daniel Yergin - Page 140 The Quest - By Daniel Yergin - Page 141 The Quest - By Daniel Yergin - Page 142 The Quest - By Daniel Yergin - Page 143 The Quest - By Daniel Yergin - Page 144 The Quest - By Daniel Yergin - Page 145 The Quest - By Daniel Yergin - Page 146 The Quest - By Daniel Yergin - Page 147 The Quest - By Daniel Yergin - Page 148 The Quest - By Daniel Yergin - Page 149 The Quest - By Daniel Yergin - Page 150 The Quest - By Daniel Yergin - Page 151 The Quest - By Daniel Yergin - Page 152 The Quest - By Daniel Yergin - Page 153 The Quest - By Daniel Yergin - Page 154 The Quest - By Daniel Yergin - Page 155 The Quest - By Daniel Yergin - Page 156 The Quest - By Daniel Yergin - Page 157 The Quest - By Daniel Yergin - Page 158 The Quest - By Daniel Yergin - Page 159 The Quest - By Daniel Yergin - Page 160 The Quest - By Daniel Yergin - Page 161 The Quest - By Daniel Yergin - Page 162 The Quest - By Daniel Yergin - Page 163 The Quest - By Daniel Yergin - Page 164 The Quest - By Daniel Yergin - Page 165 The Quest - By Daniel Yergin - Page 166 The Quest - By Daniel Yergin - Page 167 The Quest - By Daniel Yergin - Page 168 The Quest - By Daniel Yergin - Page 169 The Quest - By Daniel Yergin - Page 170 The Quest - By Daniel Yergin - Page 171 The Quest - By Daniel Yergin - Page 172 The Quest - By Daniel Yergin - Page 173 The Quest - By Daniel Yergin - Page 174 The Quest - By Daniel Yergin - Page 175 The Quest - By Daniel Yergin - Page 176 The Quest - By Daniel Yergin - Page 177 The Quest - By Daniel Yergin - Page 178 The Quest - By Daniel Yergin - Page 179 The Quest - By Daniel Yergin - Page 180 The Quest - By Daniel Yergin - Page 181 The Quest - By Daniel Yergin - Page 182 The Quest - By Daniel Yergin - Page 183 The Quest - By Daniel Yergin - Page 184 The Quest - By Daniel Yergin - Page 185 The Quest - By Daniel Yergin - Page 186 The Quest - By Daniel Yergin - Page 187 The Quest - By Daniel Yergin - Page 188 The Quest - By Daniel Yergin - Page 189 The Quest - By Daniel Yergin - Page 190 The Quest - By Daniel Yergin - Page 191 The Quest - By Daniel Yergin - Page 192 The Quest - By Daniel Yergin - Page 193 The Quest - By Daniel Yergin - Page 194 The Quest - By Daniel Yergin - Page 195 The Quest - By Daniel Yergin - Page 196 The Quest - By Daniel Yergin - Page 197 The Quest - By Daniel Yergin - Page 198 The Quest - By Daniel Yergin - Page 199 The Quest - By Daniel Yergin - Page 200 The Quest - By Daniel Yergin - Page 201 The Quest - By Daniel Yergin - Page 202 The Quest - By Daniel Yergin - Page 203 The Quest - By Daniel Yergin - Page 204 The Quest - By Daniel Yergin - Page 205 The Quest - By Daniel Yergin - Page 206 The Quest - By Daniel Yergin - Page 207 The Quest - By Daniel Yergin - Page 208 The Quest - By Daniel Yergin - Page 209 The Quest - By Daniel Yergin - Page 210 The Quest - By Daniel Yergin - Page 211 The Quest - By Daniel Yergin - Page 212 The Quest - By Daniel Yergin - Page 213 The Quest - By Daniel Yergin - Page 214 The Quest - By Daniel Yergin - Page 215 The Quest - By Daniel Yergin - Page 216 The Quest - By Daniel Yergin - Page 217 The Quest - By Daniel Yergin - Page 218 The Quest - By Daniel Yergin - Page 219 The Quest - By Daniel Yergin - Page 220 The Quest - By Daniel Yergin - Page 221 The Quest - By Daniel Yergin - Page 222 The Quest - By Daniel Yergin - Page 223 The Quest - By Daniel Yergin - Page 224 The Quest - By Daniel Yergin - Page 225 The Quest - By Daniel Yergin - Page 226 The Quest - By Daniel Yergin - Page 227 The Quest - By Daniel Yergin - Page 228 The Quest - By Daniel Yergin - Page 229 The Quest - By Daniel Yergin - Page 230 The Quest - By Daniel Yergin - Page 231 The Quest - By Daniel Yergin - Page 232 The Quest - By Daniel Yergin - Page 233 The Quest - By Daniel Yergin - Page 234 The Quest - By Daniel Yergin - Page 235 The Quest - By Daniel Yergin - Page 236 The Quest - By Daniel Yergin - Page 237 The Quest - By Daniel Yergin - Page 238 The Quest - By Daniel Yergin - Page 239 The Quest - By Daniel Yergin - Page 240 The Quest - By Daniel Yergin - Page 241 The Quest - By Daniel Yergin - Page 242 The Quest - By Daniel Yergin - Page 243 The Quest - By Daniel Yergin - Page 244 The Quest - By Daniel Yergin - Page 245 The Quest - By Daniel Yergin - Page 246 The Quest - By Daniel Yergin - Page 247 The Quest - By Daniel Yergin - Page 248 The Quest - By Daniel Yergin - Page 249 The Quest - By Daniel Yergin - Page 250 The Quest - By Daniel Yergin - Page 251 The Quest - By Daniel Yergin - Page 252 The Quest - By Daniel Yergin - Page 253 The Quest - By Daniel Yergin - Page 254 The Quest - By Daniel Yergin - Page 255 The Quest - By Daniel Yergin - Page 256 The Quest - By Daniel Yergin - Page 257 The Quest - By Daniel Yergin - Page 258 The Quest - By Daniel Yergin - Page 259 The Quest - By Daniel Yergin - Page 260 The Quest - By Daniel Yergin - Page 261 The Quest - By Daniel Yergin - Page 262 The Quest - By Daniel Yergin - Page 263 The Quest - By Daniel Yergin - Page 264 The Quest - By Daniel Yergin - Page 265 The Quest - By Daniel Yergin - Page 266 The Quest - By Daniel Yergin - Page 267 The Quest - By Daniel Yergin - Page 268 The Quest - By Daniel Yergin - Page 269 The Quest - By Daniel Yergin - Page 270 The Quest - By Daniel Yergin - Page 271 The Quest - By Daniel Yergin - Page 272 The Quest - By Daniel Yergin - Page 273 The Quest - By Daniel Yergin - Page 274 The Quest - By Daniel Yergin - Page 275 The Quest - By Daniel Yergin - Page 276 The Quest - By Daniel Yergin - Page 277 The Quest - By Daniel Yergin - Page 278 The Quest - By Daniel Yergin - Page 279 The Quest - By Daniel Yergin - Page 280 The Quest - By Daniel Yergin - Page 281 The Quest - By Daniel Yergin - Page 282 The Quest - By Daniel Yergin - Page 283 The Quest - By Daniel Yergin - Page 284 The Quest - By Daniel Yergin - Page 285 The Quest - By Daniel Yergin - Page 286 The Quest - By Daniel Yergin - Page 287 The Quest - By Daniel Yergin - Page 288 The Quest - By Daniel Yergin - Page 289 The Quest - By Daniel Yergin - Page 290 The Quest - By Daniel Yergin - Page 291 The Quest - By Daniel Yergin - Page 292 The Quest - By Daniel Yergin - Page 293 The Quest - By Daniel Yergin - Page 294 The Quest - By Daniel Yergin - Page 295 The Quest - By Daniel Yergin - Page 296 The Quest - By Daniel Yergin - Page 297 The Quest - By Daniel Yergin - Page 298 The Quest - By Daniel Yergin - Page 299 The Quest - By Daniel Yergin - Page 300 The Quest - By Daniel Yergin - Page 301 The Quest - By Daniel Yergin - Page 302 The Quest - By Daniel Yergin - Page 303 The Quest - By Daniel Yergin - Page 304 The Quest - By Daniel Yergin - Page 305 The Quest - By Daniel Yergin - Page 306 The Quest - By Daniel Yergin - Page 307 The Quest - By Daniel Yergin - Page 308 The Quest - By Daniel Yergin - Page 309 The Quest - By Daniel Yergin - Page 310 The Quest - By Daniel Yergin - Page 311 The Quest - By Daniel Yergin - Page 312 The Quest - By Daniel Yergin - Page 313 The Quest - By Daniel Yergin - Page 314 The Quest - By Daniel Yergin - Page 315 The Quest - By Daniel Yergin - Page 316 The Quest - By Daniel Yergin - Page 317 The Quest - By Daniel Yergin - Page 318 The Quest - By Daniel Yergin - Page 319 The Quest - By Daniel Yergin - Page 320 The Quest - By Daniel Yergin - Page 321 The Quest - By Daniel Yergin - Page 322 The Quest - By Daniel Yergin - Page 323 The Quest - By Daniel Yergin - Page 324 The Quest - By Daniel Yergin - Page 325 The Quest - By Daniel Yergin - Page 326 The Quest - By Daniel Yergin - Page 327 The Quest - By Daniel Yergin - Page 328 The Quest - By Daniel Yergin - Page 329 The Quest - By Daniel Yergin - Page 330 The Quest - By Daniel Yergin - Page 331 The Quest - By Daniel Yergin - Page 332 The Quest - By Daniel Yergin - Page 333 The Quest - By Daniel Yergin - Page 334 The Quest - By Daniel Yergin - Page 335 The Quest - By Daniel Yergin - Page 336 The Quest - By Daniel Yergin - Page 337 The Quest - By Daniel Yergin - Page 338 The Quest - By Daniel Yergin - Page 339 The Quest - By Daniel Yergin - Page 340 The Quest - By Daniel Yergin - Page 341 The Quest - By Daniel Yergin - Page 342 The Quest - By Daniel Yergin - Page 343 The Quest - By Daniel Yergin - Page 344 The Quest - By Daniel Yergin - Page 345 The Quest - By Daniel Yergin - Page 346 The Quest - By Daniel Yergin - Page 347 The Quest - By Daniel Yergin - Page 348 The Quest - By Daniel Yergin - Page 349 The Quest - By Daniel Yergin - Page 350 The Quest - By Daniel Yergin - Page 351 The Quest - By Daniel Yergin - Page 352 The Quest - By Daniel Yergin - Page 353 The Quest - By Daniel Yergin - Page 354 The Quest - By Daniel Yergin - Page 355 The Quest - By Daniel Yergin - Page 356 The Quest - By Daniel Yergin - Page 357 The Quest - By Daniel Yergin - Page 358 The Quest - By Daniel Yergin - Page 359 The Quest - By Daniel Yergin - Page 360 The Quest - By Daniel Yergin - Page 361 The Quest - By Daniel Yergin - Page 362 The Quest - By Daniel Yergin - Page 363 The Quest - By Daniel Yergin - Page 364 The Quest - By Daniel Yergin - Page 365 The Quest - By Daniel Yergin - Page 366 The Quest - By Daniel Yergin - Page 367 The Quest - By Daniel Yergin - Page 368 The Quest - By Daniel Yergin - Page 369 The Quest - By Daniel Yergin - Page 370 The Quest - By Daniel Yergin - Page 371 The Quest - By Daniel Yergin - Page 372 The Quest - By Daniel Yergin - Page 373 The Quest - By Daniel Yergin - Page 374 The Quest - By Daniel Yergin - Page 375 The Quest - By Daniel Yergin - Page 376