Daniel Yergin on Power

 Daniel Yergin – Oil Explains the Entire 20th Century,” Pulitzer Prize winner and energy expert Daniel Yergin discusses his book “The Prize,” which chronicles the history of oil and its profound impact on the 20th century. Yergin shares how the book’s initial focus on oil’s history evolved into a comprehensive account of the century itself due to its interconnectedness. He highlights the role of influential figures like Drake, Rockefeller, and Mitchell, and the geopolitical significance of oil, from its early dominance by Standard Oil to its strategic importance during World War I and II. The speaker also touches upon the antitrust case against Standard Oil, the role of oil in major historical events, and the power struggle between Western oil companies and Middle Eastern countries. Additionally, Yergin discusses the impact of the oil crisis in 1973, the assertion of political power by OPEC countries, and the relationship between oil and the political instability in the Middle East. He also explores the challenges of creating stable oil rentier states and the role of energy, particularly oil, in the economy and its impact on economic growth. The speaker reflects on the potential of renewable energy sources and the growing demand for electricity due to data centers and artificial intelligence.