The New Map: Energy, Climate, and the Clash of Nations by Daniel Yergin, Penguin Press, 512 pp.
The New Map is the latest book by award-winning author Daniel Yergin. Daniel is highly respected as one of the best chroniclers of the oil markets. His 1992 book “The Prize,” which is an epic history of the global petroleum industry, won the Pulitzer Prize. His second book, “The Commanding Heights: The Battle for the World Economy,” was turned into a well-regarded television series in 2002. In “The New Map”, Yergin presents an updated take on the oil market. However, the book falls well short of that. Instead of focussing more time on climate change and the renewable thrust, he spends a lot of time discussing oil historical contexts, especially for the Middle East. In that regard, this book also serves as a quick summary of “The Prize.”
But to balance the lack of any new insight, there is the author’s writing style. Those who are just looking to skim at the surface or get some initiation will find this book helpful. The writing is engaging and fast-paced. A lot of information is condensed in a short book, but there is no analysis or aha moment. So, if you have not been reading newspapers in the past few years but want to get updated, this is a perfect book.
I will not discuss much on the history and geopolitical part of the book (which is 80% of the book) but the last couple of chapters are devoted to climate change and renewables. The author is quite cautious about the transition to renewables overall, which is very evident at several places. At some places, he states the issue to be of vital importance. But at the same time, he is dismissive of environmental activism and cynical about the potential pace of energy transition. Costs of various forms of renewable energy – solar or wind are plummeting rapidly, but he declares that these are not sustainable without government subsidies.
Overall, the book, while a breezy read, leaves you a bit disappointed. Reason being that there is an expectation from someone of the author’s stature to treat the issue in more detail. While he has every right about being circumspect on energy transition – he could have discussed better why and what needs to be done to make the transition a success.
