We all live fast paced and complex lives. If you are a reader then the key choice you must master is what to read. There is simply too much out there, and you cannot absorb it all. Every now and then a book comes along which is the equivalent of a precious diamond. It is so full of information, presented in such an interesting way that you can't bring yourself to put it down. You couple this characteristic with an author who is a major thinker and what you have when you put it all together is a 1 in a 100 type book. This is a book that changes everything we know about energy.
This is Daniel Yergin
Daniel Yergin is such an author, and this is such a book. It has now been two decades since the he turned the world upside down with his Pulitzer Prize winning "The Prize - The Epic Quest for Oil". To have read it is to understand the world. Its monumental impact affected our economy and Wall Street. In the last few years it became apparent that The Prize needed a badly needed update, not just a chapter added. Instead of completely revamping The Prize, Yergin did one better, he chose to write on the world of energy in general and then incorporate revisions from his previous writings which were necessary. This brings us to "The Quest: Energy, Security, and the Remaking of the Modern World".
We live in world that currently creates $65 trillion per year in gross production of goods and services. Our country does close to $15 trillion of this production, while Europe as a whole does slightly more. Within 20 years the world is expected to produce $130 trillion, that's a doubling in just 2 decades. Now here's the problem as laid out in the book. Yergin clearly spells out that in the developed world today we use about 14 barrels of oil per person per year. In the developing countries we use about 3 barrels per person per year. What are we going to do when gross world production goes from $65 trillion to $130 trillion; energy needs must expand along with economic production?
Oil, coal, and natural gas currently provide 80% of the world's energy needs. It is the thesis of the book that these three sources of energy combined, cannot suffice to answer our energy needs. Yes there is more of each of these sources than previously thought available. As an example, today we produce 5 times the amount of oil than we did in 1957, a remarkable increase, but what is coming down the pike is a need to expand energy to extraordinary levels.
The Book's Organization
This is a relatively long book composed of 711 pages of narrative without a boring sentence in the entire book. It reads fast in spite of its length. There are 16 pages of bibliography and this bibliography is a useful one if you want to explore this topic further. You will then find 34 pages of footnotes, and I like the footnotes being in the back of the book in this case, as opposed to the end of the chapters as you see in other books. Yergin has given us six parts to ponder in this story of how we will solve our energy problems.
PART I - The New World of Oil
It is in this chapter that the author covers the return of Russia as an energy power. The world is a changing place and Russia has become an energy powerhouse with its abundant oil and gas resources. Yergin also covers the war in Iraq and the rise of China in this part. China's needs will eclipse our own as their economy continues to rapidly expand. The beauty of a book like this is that you are not only learning about the energy world, but the world in general. It is a fascinating journey as we find out about the emerging superpowers and whether or not America can continue to hold onto economic dominance in a rapidly changing world.
PART II - Securing the Supply
There's more than one reason why America spends close to $800 billion on defense spending. You have to keep the sea lanes safe for oil and energy transport. Without world trade, America would rapidly sink into a depression since international trade makes up 25% of our Gross Domestic product. In this section the author gives you a thorough survey of what it means to run out of energy including oil and natural gas.
PART III - The ELECTRIC Age
The book makes clear that we may be living in the post industrial age, or the information society, but in terms of energy we are still living in the OBSOLETE Fossil Age, and it has to change. The Electric age is coming to an end, and in this section Yergin tells us the pros and cons of what is coming. You are not getting theories from talking heads. This is the preeminent expert on oil and energy in the world today. Corporations and governments pay a fortune to consult with the author with regard to what he thinks is coming next.
PART IV - Climate and Carbon
Is there glacial change? Is the earth getting warmer? What is the effect of climate change on man's need for more energy? Where will it come from and can we afford it? Is the internal combustion engine now more than a century old reaching the end of its operational efficiency? Must we go another way? The average SUV weighs 5000 pounds and is being driven around town half the time by soccer moms driving alone? How much longer can we keep the whole process going, and is it changing right before our eyes?
PART V - New Energies
Yes, there are new sources of energy coming. We are going to see wind turbines everywhere, but there is also a 5th source of energy coming. Perhaps it is already here and that is EFFICIENCY. We must get more out of the energy we already have. When Exxon moves oil crude from a pipeline to tanker there is less than one teaspoon of oil that is lost in the process. We must become more efficient as a society and as a world, and we must close the conservation gap, which we haven't even begun to tackle yet.
PART VI - Road to the Future
How interesting that in the last part of this book the author chooses to deal with what he calls carbohydrate man, and the great electric car experiment. Would you believe that only about 20% of the energy that comes out of the internal combustion engine is efficiently used in the running of a car. The rest comes out of the muffler into the air as heat and lost energy. With electric cars, the efficiency approaches 85%? Batteries are still too heavy however, and they do not last as long as they should. We haven't even discussed how costly they are to replace. Nevertheless, the electric car is in our future, and this book tells you the whole story.
CONCLUSION
You are going to love this book, all 700 plus pages of it. Nobody tells a more exciting story than Daniel Yergin. To win a Pulitzer Prize you must grip the reader's attention and never let go from beginning to end, and that is precisely what we have here. It is a non-fiction book that reads like a spy thriller and a reader can't expect more from a book, especially one on the topic of energy.
I urge you to read anything this man writes. It is rare that Yergin publishes and everything he says has power and relevance attached to it. My only reading wish is to find more books in the same class as "The Quest". Such books are rare unfortunately, and when you find them, we have to let our friends and other readers know. I thank you for reading this review.
Richard C. Stoyeck
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llegó en tiempo, de acuerdo a lo esperado
Reviewed in the United States on March 25, 2022
muy buen servicio, libro acorde a lo esperado
Reviewed in the United States on March 25, 2022
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