The Prize: The Epic Quest for Oil, Money & Power

This is a very well-written and neutral history of the oil and gas industry worldwide, from its beginnings in the U.S. in the 1850s up through the end of the Gulf War in 1991. I read this over perhaps eight months a couple years ago, having had been in the industry for about 18 years. I wish I'd read it when I first started working; I think my appreciation of my particular engineering field and its place in the context of the industry would've been greatly enhanced. The Prize doubles as both an extremely interesting story and a superb reference thanks to a comprehensive index. My only complaint is that the regional maps are generally sub-par and often don't indicate half the points of interest mentioned in the text. This is merely an annoyance though and doesn't detract much from the experience. I don't have much else to add. The Prize is written for the layman, so anyone with even a passing interest in the industry ought to check it out. I'm most of the way through the sequel The Quest, which covers the next twenty years or so of history though in quite a different manner and with generally poorer writing in my opinion. The Prize is a must buy!

This one book has helped me view current events from a much more sophisticated perspective than before. Although oil is the connective tissue throughout, I learned immensely about World history, human psychology, war, the Middle East, imperialism, colonialism, and so many thing in between (e.g., 42 Gallons in a barrel of crude!). Without a hint of exageration, I learned more from this book than any other I can recall (less The Bible, and maybe The Brothers Karamazov which I just started reading!). It took me ONE YEAR to get it read (not sure why), but I committed to finishing it before starting any other read, and that I did. I am immensely thankful to the author for putting this massive piece together - truly a feat, if you ask me. What will come once this infamous resource evolves (or comes to an end)? A couple of centuries and so much.... everything. Phenomenal read, highly recommended!!!

One of the core studies of the role oil plays in world history. Very readable, very frightening. This older book from the 1980s does not address climate impacts, or the utter failure of the petroleum industry to take responsibility for its complete lack of social conscience, but that's not why you should read this book. Read this book for an understanding of how we got through the first 100 years of petroleum dependency.

This book came so highly recommended, especially from friends in the investment industry. I am trying to get through it, but I am not enjoying it yet. The writing is uneven, rambling about for pages then gushing with excitement. I'd be impressed (but annoyed) if that seemed intentional by the author to mirror the work of exploring for and sometimes striking oil, but I think it. is just bad editing. It's a bummer because the content is interesting. I wish this tome were edited down by a more engaging and consistent storyteller. It's missing the quality you might find in a book like Bill Bryson's "A Short History of Nearly Everything", or even one of Isaacson's biographies. That said, I don't know a better book on the oil industry in particular or an industry in general, So this might just be very hard to write well for the general reader, and perhaps I am expecting too much.

This is the definitive book on the "Age of Oil" and its journey from fruition to modern day. Incredibly well researched and insightful. The Prize describes how this once seemingly useless substance served as a platform for building global economies and increasing human productivity. Oil; money; power ... the terms are synonymous. Rockefeller, Getty, Rothschild, and others became the wealthiest to have ever lived at the time. You must read this book to understand the true nature of oil's impact on our society. """ 1853: George Bissel visits oil springs in western Pennsylvania. 1859: "Colonel" Drake drills first well at Titusville. 1861-65: American Civil War. 1870: John D. Rockefeller forms Standard Oil Company. 1872: South Improvement Company stirs war in the Oil Regions. Rockefeller launches "Our Plan". 1873: Baku oil opened to development. Nobel family enters Russian oil business. 1882: Thomas Edison demonstrates electricity. Standard Oil Trust formed. 1885: Rothschilds enter Russian oil business. Royal Dutch discovers oil in Sumatra. 1892: Marcus Samuel sends the Murex through the Suez Canal; beginning of Shell. 1896: Henry Ford builds his first car. 1901: William Knox D'Arcy acquires a concession in Persia. Gusher at Spindletop in Texas; beginning of Sun, Texaco, Gulf. 1902-04: Ida Tarbell's History of Standard Oil Company serialized in McClure's. 1903: Wright Brothers' first flight. 1904-05: Japan defeats Russia. 1905: Revolution of 1905 in Russia; Baku oil fields ablaze. Glenn Pool discovered in Oklahoma. 1907: Shell and Royal Dutch combined under Henri Deterding. First drive-in gasoline station opens in St. Louis. 1908: Discovery of oil in Persia; leads to Anglo-Persian (later British Petroleum). 1910: "Golden Lane" discovered in Mexico. 1911: Agadir Crisis. Churchill becomes First Lord of Admiralty. U.S. Supreme Court orders dissolution of Standard Oil Trust. 1913: Burton "cracking" process for refining patented. 1914: British government acquires 51 percent of Anglo-Persian Oil Company. 1914-18: World War I and mechanization of the battlefield. 1917: Bolshevik Revolution. 1922-28: Negotiation on the Turkish (Iraq) Petroleum Company, leading to the "Red Line Agreement." 1922: Los Barroso discovery in Venezuela. 1924: Teapot Dome scandal erupts. 1928: World oil glut leads to meeting at Achnacarry Castle and "As-Is" agreement. French petroleum law. 1929: Stock market collapse heralds Great Depression. 1930: Dad Joiner's discovery in East Texas. 1931: Japan invades Manchuria. 1932: Discovery of oil in Bahrain. 1932-33: Shah Reza Pahlavi cancels the Anglo-Iranian concession; Anglo-Iranian wins it back. 1933: Franklin Roosevelt becomes President of the United States. Adolf Hitler becomes Chancellor of Germany. Standard of California wins concession in Saudi Arabia. 1934: Gulf and Anglo-Iranian gain joint concession in Kuwait. 1935: Mussolini invades Ethiopia; League of Nations fails to impose oil embargo. 1936: Hitler remilitarizes Rhineland and begins preparations for war, including a major synthetic fuels program. 1937: Japan begins war in China. 1938: Oil discovered in Kuwait and Saudi Arabia. Mexico nationalizes foreign oil companies. 1939: World War II begins with German invasion of Poland. 1940: Germany overruns Western Europe. United States puts limits on gasoline exports to Japan. 1941: Germany invades Soviet Union (June). Japanese takeover of Southern Indochina leads United States, Britain and Netherlands to embargo oil to Japan (July). Japan attacks Pearl Harbor (December). 1942: Battle of Midway (July). Battle of El Alamein (September). Battle of Stalingrad (begins November). 1943: The first "fifty-fifty" deal in Venezuela. Allies win Battle of the Atlantic. 1944: Normandy landing (June). Patton runs out of gas (August). Battle of Leyte Gulf, Philippines (October). 1945: World War II ends with defeat of Germany and Japan. 1947: Marshall Plan for Western Europe. Construction begins on Tapline for Saudi oil. 1948: Standard of New Jersey (Exxon) and Socony-Vacuum (Mobil) join Standard of California (Chevron) and Texaco in Aramco. Israel declares independence. 1948-49: Neutral Zone concessions to Aminoil and J. Paul Getty. 1950: Fifty-fifty deal between Aramco and Saudi Arabia. 1951: Mossadegh nationalizes AngloIranian in Iran (first postwar oil crisis). New Jersey Turnpike opens. 1951~53 Korean War. 1952: First Holiday Inn opens. 1953: Mossadegh falls; Shah returns. 1954: Iranian Consortium established. 1955: Soviet oil export campaign begins. First McDonald's opens in suburban Chicago. 1956: Suez Crisis (second postwar oil crisis). Oil discovered in Algeria and Nigeria. 1957: European Economic Community established. Enrico Mattei's deal with the Shah. Japan's Arabian Oil Company wins Neutral Zone offshore concession. 1958: Iraqi revolution. 1959: Eisenhower imposes import quotas. Arab Petroleum Congress in Cairo. Groningen natural gas field discovered in Netherlands. Zelten field discovered in Libya. 1960: OPEC founded in Baghdad. 1961: Iraqi attempt to swallow Kuwait frustrated by British troops. 1965: Vietnam War buildup. 1967: Six Day War; Suez Canal closed (third postwar oil crisis). 1968: Oil discovered on Alaska's North Slope. Ba'thists seize power in Iraq1969: Qaddafi seizes power in Libya. Oil discovered in the North Sea. Santa Barbara oil spill. 1970: Libya "squeezes" oil companies. Earth Day. 1971: Tehran Agreement. Shah's Persepolis celebration. Britain withdraws military force from Gulf. 1972: Club of Rome study. 1973: Yom Kippur War; Arab Oil embargo (fourth postwar oil crisis). Oil price rises from $2.90 per barrel (September) to $11.65 (December). Alaskan pipeline approved. Watergate scandal widens. 1974: Arab Embargo ends. Nixon resigns. International Energy Agency (IEA) founded. 1975: Automobile fuel efficiency standards established in the United States. First oil comes ashore from North Sea. South Vietnam falls to communists. Saudi, Kuwaiti, and Venezuelan concessions come to an end. 1977: North Slope Alaskan oil comes to market. Buildup of Mexican production. Anwar Sadat goes to Israel. 1978: Anti-Shah demonstrations, strikes by oil workers in Iran. 1979: Shah goes into exile; Ayatollah Khomeini takes power. Three Mile Island nuclear plant accident. Iran takes hostages at U. S. Embassy. 1979-81: Panic sends oil from $13 to $34 a barrel (fifth postwar oil crisis). 1980: Iraq launches war against Iran. 1982: OPEC's first quotas. 1983: OPEC cuts price to $29. Nymex launches the crude oil futures contract. 1985: Mikhail Gorbachev becomes leader of Soviet Union. 1986: Oil price collapse. Chernobyl nuclear accident in USSR. 1988: Ceasefire in Iran-Iraq War. 1989: Exxon Valdez tanker accident off Alaska. Berlin Wall falls; communism collapses in Eastern Europe. 1990: Iraq invades Kuwait. UN imposes embargo on Iraq; multinational force dispatched to Middle East (sixth postwar oil crisis). """

If you want to know oil's history and story, and why it remains a dominant feature of humans' existence for the last 100 years, this is the book for you. Along with oil's story, you will learn the how and why driver of many of the historical events of the last 100 years. Given this book's scholarship, the writing is clear and will likely hold your interest as you become educated about the dominant player in the ubiquitous Energy Industry.

This is basically a history of the use of oil from its earliest mass production days in the mid 1800's up to today. This could be a dry topic but is written mainly as a series of narratives about the characters in the search of, production of, and control of the resource. The character driven approach makes this a surprisingly easy read for a fairly long book. It focuses on the effects of oil on the economies of both consuming and producing nations as well how access to oil affects the political power of nations. It makes clear how this access to the energy source affected all nations and was a huge driver in transforming the global economy. Highly recommended.

The idea that we need oil to establish military security is insane. No one ever managed to solve problems by violence. Violence only creates basic for another round of violence. It’s an arrogance and greed of petroleum lobby that made some people believe that we need weapon and oil to establish a conversation with other nations. Oil destroys our planets and war destroys our lives. Everything is connected, as you see :)

Yergin rewrites the history of the last 150 years through the perspective of the oil industry. Oil is the hidden hand that controls unfolding events. Is it any accident that the U.S. and Russia became the great powers of the 20th Century? -- they were the two early leaders in oil production. War machinery starts to shift to oil in World War I -- battleships goes from coal to oil; and the French and British pioneer the military use of automobiles and tanks. World War II is all about oil. Japan starts the Pacific War in response to American embargo of oil and with intent to seize the oil fields of the East Indies. Hitler strikes out for the Russian oil fields and overextends himself. By the end of the war he lacks the oil to feed his new jets, tanks, and armored divisions. An important front of the Cold War involves competition for the new oil in the Middle East. And finally, the history of the last 20 years is dominated by Hussein's attempt to get a corner on the oil market by seizing Kuwait and threatening Saudi Arabia. More fascinating than the wars is the lack of wars over this major commodity. As Yergin points out, the largest wealth transfer in history is the one to oil exporting countries in the late 20th century. The system of oil concessions that split profits with the host company is abandoned; host now takes all. These small, militarily weak producing countries were able to seize all of the profits and to reap extraordinary profit from the intense demand for this product. Remarkably (with the exception of Hussein's gambit) there is no assertion of military power to interfere with this. I suppose that too much is at stake for the big players to make a power grab -- it's in everyone's interest to cooperate so that we don't descend into international economic and political chaos. Yergin also sees the business cycle as driven by oil. The economy under Carter fails because of high oil prices. An oil glut in the 1980's explains the success of the economy under Reagan. The economy rebounds in the mid to late 1990s because of cheap oil. And the boom times of the early years of the 21st century is also explained by cheap oil. Supply and demand oscillate wildly over the years and the exporters and oil companies strive to stabilize the market. At present, demand is extraodinary given the emergence of China, India, and a host of other eocnomies. Conservation efforts have the effect of moderating demand, and at times the willingness of producers to cheat the quoata system combined with conservation efforts have led to boom times of cheap oil. As Yergin points out, fears that we will soon run out of oil have always been present. Certainly there will be a push to get oil from more difficult locations and a push for more alternative energy sources and conservation. So the oil won't run out, but the cost of it will spiral upwards and the ability of the world to sustain prolonged boom periods is doubtful. Yergin does a good job of making very dry material interesting. He explores the personalities of the men involved in this industry, and he writes well. This book will take you forever to read, but it will change your view of history.

This is the third copy of this book that I have purchased. The first two are on my shelf, and the third I gave away at a white elephant gift exchange. I originally found out about this book through an Energy Economics course I was taking during my undergrad at Michigan Technological University. The course was a hybrid undergraduate/graduate course, and one of the differentiators was that the graduate students had to read The Prize and write a paper on it. This book is a must-read for anyone who wants to understand the oil industry, its history, its geopolitics, and how oil has shaped policy and war for the past 100+ years.

This is a very well-written and neutral history of the oil and gas industry worldwide, from its beginnings in the U.S. in the 1850s up through the end of the Gulf War in 1991. I read this over perhaps eight months a couple years ago, having had been in the industry for about 18 years. I wish I'd read it when I first started working; I think my appreciation of my particular engineering field and its place in the context of the industry would've been greatly enhanced. The Prize doubles as both an extremely interesting story and a superb reference thanks to a comprehensive index. My only complaint is that the regional maps are generally sub-par and often don't indicate half the points of interest mentioned in the text. This is merely an annoyance though and doesn't detract much from the experience. I don't have much else to add. The Prize is written for the layman, so anyone with even a passing interest in the industry ought to check it out. I'm most of the way through the sequel The Quest, which covers the next twenty years or so of history though in quite a different manner and with generally poorer writing in my opinion. The Prize is a must buy!

This one book has helped me view current events from a much more sophisticated perspective than before. Although oil is the connective tissue throughout, I learned immensely about World history, human psychology, war, the Middle East, imperialism, colonialism, and so many thing in between (e.g., 42 Gallons in a barrel of crude!). Without a hint of exageration, I learned more from this book than any other I can recall (less The Bible, and maybe The Brothers Karamazov which I just started reading!). It took me ONE YEAR to get it read (not sure why), but I committed to finishing it before starting any other read, and that I did. I am immensely thankful to the author for putting this massive piece together - truly a feat, if you ask me. What will come once this infamous resource evolves (or comes to an end)? A couple of centuries and so much.... everything. Phenomenal read, highly recommended!!!

One of the core studies of the role oil plays in world history. Very readable, very frightening. This older book from the 1980s does not address climate impacts, or the utter failure of the petroleum industry to take responsibility for its complete lack of social conscience, but that's not why you should read this book. Read this book for an understanding of how we got through the first 100 years of petroleum dependency.

This book came so highly recommended, especially from friends in the investment industry. I am trying to get through it, but I am not enjoying it yet. The writing is uneven, rambling about for pages then gushing with excitement. I'd be impressed (but annoyed) if that seemed intentional by the author to mirror the work of exploring for and sometimes striking oil, but I think it. is just bad editing. It's a bummer because the content is interesting. I wish this tome were edited down by a more engaging and consistent storyteller. It's missing the quality you might find in a book like Bill Bryson's "A Short History of Nearly Everything", or even one of Isaacson's biographies. That said, I don't know a better book on the oil industry in particular or an industry in general, So this might just be very hard to write well for the general reader, and perhaps I am expecting too much.

This is the definitive book on the "Age of Oil" and its journey from fruition to modern day. Incredibly well researched and insightful. The Prize describes how this once seemingly useless substance served as a platform for building global economies and increasing human productivity. Oil; money; power ... the terms are synonymous. Rockefeller, Getty, Rothschild, and others became the wealthiest to have ever lived at the time. You must read this book to understand the true nature of oil's impact on our society. """ 1853: George Bissel visits oil springs in western Pennsylvania. 1859: "Colonel" Drake drills first well at Titusville. 1861-65: American Civil War. 1870: John D. Rockefeller forms Standard Oil Company. 1872: South Improvement Company stirs war in the Oil Regions. Rockefeller launches "Our Plan". 1873: Baku oil opened to development. Nobel family enters Russian oil business. 1882: Thomas Edison demonstrates electricity. Standard Oil Trust formed. 1885: Rothschilds enter Russian oil business. Royal Dutch discovers oil in Sumatra. 1892: Marcus Samuel sends the Murex through the Suez Canal; beginning of Shell. 1896: Henry Ford builds his first car. 1901: William Knox D'Arcy acquires a concession in Persia. Gusher at Spindletop in Texas; beginning of Sun, Texaco, Gulf. 1902-04: Ida Tarbell's History of Standard Oil Company serialized in McClure's. 1903: Wright Brothers' first flight. 1904-05: Japan defeats Russia. 1905: Revolution of 1905 in Russia; Baku oil fields ablaze. Glenn Pool discovered in Oklahoma. 1907: Shell and Royal Dutch combined under Henri Deterding. First drive-in gasoline station opens in St. Louis. 1908: Discovery of oil in Persia; leads to Anglo-Persian (later British Petroleum). 1910: "Golden Lane" discovered in Mexico. 1911: Agadir Crisis. Churchill becomes First Lord of Admiralty. U.S. Supreme Court orders dissolution of Standard Oil Trust. 1913: Burton "cracking" process for refining patented. 1914: British government acquires 51 percent of Anglo-Persian Oil Company. 1914-18: World War I and mechanization of the battlefield. 1917: Bolshevik Revolution. 1922-28: Negotiation on the Turkish (Iraq) Petroleum Company, leading to the "Red Line Agreement." 1922: Los Barroso discovery in Venezuela. 1924: Teapot Dome scandal erupts. 1928: World oil glut leads to meeting at Achnacarry Castle and "As-Is" agreement. French petroleum law. 1929: Stock market collapse heralds Great Depression. 1930: Dad Joiner's discovery in East Texas. 1931: Japan invades Manchuria. 1932: Discovery of oil in Bahrain. 1932-33: Shah Reza Pahlavi cancels the Anglo-Iranian concession; Anglo-Iranian wins it back. 1933: Franklin Roosevelt becomes President of the United States. Adolf Hitler becomes Chancellor of Germany. Standard of California wins concession in Saudi Arabia. 1934: Gulf and Anglo-Iranian gain joint concession in Kuwait. 1935: Mussolini invades Ethiopia; League of Nations fails to impose oil embargo. 1936: Hitler remilitarizes Rhineland and begins preparations for war, including a major synthetic fuels program. 1937: Japan begins war in China. 1938: Oil discovered in Kuwait and Saudi Arabia. Mexico nationalizes foreign oil companies. 1939: World War II begins with German invasion of Poland. 1940: Germany overruns Western Europe. United States puts limits on gasoline exports to Japan. 1941: Germany invades Soviet Union (June). Japanese takeover of Southern Indochina leads United States, Britain and Netherlands to embargo oil to Japan (July). Japan attacks Pearl Harbor (December). 1942: Battle of Midway (July). Battle of El Alamein (September). Battle of Stalingrad (begins November). 1943: The first "fifty-fifty" deal in Venezuela. Allies win Battle of the Atlantic. 1944: Normandy landing (June). Patton runs out of gas (August). Battle of Leyte Gulf, Philippines (October). 1945: World War II ends with defeat of Germany and Japan. 1947: Marshall Plan for Western Europe. Construction begins on Tapline for Saudi oil. 1948: Standard of New Jersey (Exxon) and Socony-Vacuum (Mobil) join Standard of California (Chevron) and Texaco in Aramco. Israel declares independence. 1948-49: Neutral Zone concessions to Aminoil and J. Paul Getty. 1950: Fifty-fifty deal between Aramco and Saudi Arabia. 1951: Mossadegh nationalizes AngloIranian in Iran (first postwar oil crisis). New Jersey Turnpike opens. 1951~53 Korean War. 1952: First Holiday Inn opens. 1953: Mossadegh falls; Shah returns. 1954: Iranian Consortium established. 1955: Soviet oil export campaign begins. First McDonald's opens in suburban Chicago. 1956: Suez Crisis (second postwar oil crisis). Oil discovered in Algeria and Nigeria. 1957: European Economic Community established. Enrico Mattei's deal with the Shah. Japan's Arabian Oil Company wins Neutral Zone offshore concession. 1958: Iraqi revolution. 1959: Eisenhower imposes import quotas. Arab Petroleum Congress in Cairo. Groningen natural gas field discovered in Netherlands. Zelten field discovered in Libya. 1960: OPEC founded in Baghdad. 1961: Iraqi attempt to swallow Kuwait frustrated by British troops. 1965: Vietnam War buildup. 1967: Six Day War; Suez Canal closed (third postwar oil crisis). 1968: Oil discovered on Alaska's North Slope. Ba'thists seize power in Iraq1969: Qaddafi seizes power in Libya. Oil discovered in the North Sea. Santa Barbara oil spill. 1970: Libya "squeezes" oil companies. Earth Day. 1971: Tehran Agreement. Shah's Persepolis celebration. Britain withdraws military force from Gulf. 1972: Club of Rome study. 1973: Yom Kippur War; Arab Oil embargo (fourth postwar oil crisis). Oil price rises from $2.90 per barrel (September) to $11.65 (December). Alaskan pipeline approved. Watergate scandal widens. 1974: Arab Embargo ends. Nixon resigns. International Energy Agency (IEA) founded. 1975: Automobile fuel efficiency standards established in the United States. First oil comes ashore from North Sea. South Vietnam falls to communists. Saudi, Kuwaiti, and Venezuelan concessions come to an end. 1977: North Slope Alaskan oil comes to market. Buildup of Mexican production. Anwar Sadat goes to Israel. 1978: Anti-Shah demonstrations, strikes by oil workers in Iran. 1979: Shah goes into exile; Ayatollah Khomeini takes power. Three Mile Island nuclear plant accident. Iran takes hostages at U. S. Embassy. 1979-81: Panic sends oil from $13 to $34 a barrel (fifth postwar oil crisis). 1980: Iraq launches war against Iran. 1982: OPEC's first quotas. 1983: OPEC cuts price to $29. Nymex launches the crude oil futures contract. 1985: Mikhail Gorbachev becomes leader of Soviet Union. 1986: Oil price collapse. Chernobyl nuclear accident in USSR. 1988: Ceasefire in Iran-Iraq War. 1989: Exxon Valdez tanker accident off Alaska. Berlin Wall falls; communism collapses in Eastern Europe. 1990: Iraq invades Kuwait. UN imposes embargo on Iraq; multinational force dispatched to Middle East (sixth postwar oil crisis). """

If you want to know oil's history and story, and why it remains a dominant feature of humans' existence for the last 100 years, this is the book for you. Along with oil's story, you will learn the how and why driver of many of the historical events of the last 100 years. Given this book's scholarship, the writing is clear and will likely hold your interest as you become educated about the dominant player in the ubiquitous Energy Industry.

This is basically a history of the use of oil from its earliest mass production days in the mid 1800's up to today. This could be a dry topic but is written mainly as a series of narratives about the characters in the search of, production of, and control of the resource. The character driven approach makes this a surprisingly easy read for a fairly long book. It focuses on the effects of oil on the economies of both consuming and producing nations as well how access to oil affects the political power of nations. It makes clear how this access to the energy source affected all nations and was a huge driver in transforming the global economy. Highly recommended.

The idea that we need oil to establish military security is insane. No one ever managed to solve problems by violence. Violence only creates basic for another round of violence. It’s an arrogance and greed of petroleum lobby that made some people believe that we need weapon and oil to establish a conversation with other nations. Oil destroys our planets and war destroys our lives. Everything is connected, as you see :)

Yergin rewrites the history of the last 150 years through the perspective of the oil industry. Oil is the hidden hand that controls unfolding events. Is it any accident that the U.S. and Russia became the great powers of the 20th Century? -- they were the two early leaders in oil production. War machinery starts to shift to oil in World War I -- battleships goes from coal to oil; and the French and British pioneer the military use of automobiles and tanks. World War II is all about oil. Japan starts the Pacific War in response to American embargo of oil and with intent to seize the oil fields of the East Indies. Hitler strikes out for the Russian oil fields and overextends himself. By the end of the war he lacks the oil to feed his new jets, tanks, and armored divisions. An important front of the Cold War involves competition for the new oil in the Middle East. And finally, the history of the last 20 years is dominated by Hussein's attempt to get a corner on the oil market by seizing Kuwait and threatening Saudi Arabia. More fascinating than the wars is the lack of wars over this major commodity. As Yergin points out, the largest wealth transfer in history is the one to oil exporting countries in the late 20th century. The system of oil concessions that split profits with the host company is abandoned; host now takes all. These small, militarily weak producing countries were able to seize all of the profits and to reap extraordinary profit from the intense demand for this product. Remarkably (with the exception of Hussein's gambit) there is no assertion of military power to interfere with this. I suppose that too much is at stake for the big players to make a power grab -- it's in everyone's interest to cooperate so that we don't descend into international economic and political chaos. Yergin also sees the business cycle as driven by oil. The economy under Carter fails because of high oil prices. An oil glut in the 1980's explains the success of the economy under Reagan. The economy rebounds in the mid to late 1990s because of cheap oil. And the boom times of the early years of the 21st century is also explained by cheap oil. Supply and demand oscillate wildly over the years and the exporters and oil companies strive to stabilize the market. At present, demand is extraodinary given the emergence of China, India, and a host of other eocnomies. Conservation efforts have the effect of moderating demand, and at times the willingness of producers to cheat the quoata system combined with conservation efforts have led to boom times of cheap oil. As Yergin points out, fears that we will soon run out of oil have always been present. Certainly there will be a push to get oil from more difficult locations and a push for more alternative energy sources and conservation. So the oil won't run out, but the cost of it will spiral upwards and the ability of the world to sustain prolonged boom periods is doubtful. Yergin does a good job of making very dry material interesting. He explores the personalities of the men involved in this industry, and he writes well. This book will take you forever to read, but it will change your view of history.

This is the third copy of this book that I have purchased. The first two are on my shelf, and the third I gave away at a white elephant gift exchange. I originally found out about this book through an Energy Economics course I was taking during my undergrad at Michigan Technological University. The course was a hybrid undergraduate/graduate course, and one of the differentiators was that the graduate students had to read The Prize and write a paper on it. This book is a must-read for anyone who wants to understand the oil industry, its history, its geopolitics, and how oil has shaped policy and war for the past 100+ years.

I love this book and have recommended it to many friends. It's an important book and helps to provide a much needed perspective about the world in which we live. There are many humorous and entertaining anecdotes along the way, so, although it's a big book, it's an entertaining read. Highly recommended for anyone who is curious about how oil came to dominate our geo-political environment.

This book (along with Yergin's other book "The Quest") ranks among one of the most essential books I've ever read. It helped shape my worldview regarding general ideas like the capitalism in the global economy, energy independence, and what to do about global warming. And, on top of giving a deep understanding of the bigger picture, it is full of incredibly specific facts that are presented in a very readable style. I personally think it should be a required reading for anyone making policy decision in today's world, or even those who want to debate such.

I can't imagine why this won't end up as one of the most important books of our time. Ten stars. Required reading for anyone who wants to do anything, and I'm only slightly exaggerating. From how gas prices affected dating, to American foreign policy, to the war in the Pacific and the war in against Germany in WWII, this book is the story of how we got to where we are today. This was recommended to me by my Petroleum Geology teacher, a geologist with some 20 years experience working at Chevron and I'm glad I took him up on it. From a guy who had a tough time deciding between geology and political science majors (just to name two), this one satisfies all of my interests.

The author captures a good portion of the history of oil and the development of this energy fuel. He goes into good detail about some of the good and bad of the cast of characters who have been involved and how oil has been a major influence on history and the relationships of nations. Be prepared for a long read.

Simply, this is a book one simply must read in order to get up to speed on the history of oil in world history. It affects the way we live, our prosperity, our technology, what we wear, what we eat, how we build our homes and work spaces, and even how and why we wage war. The book covers the history from the time that oil was sopped up from surface pits, to the discovery of "rock oil" and its uses to make kerosene and cheaper lighting through the 1991 first Gulf War. It has always been a wild industry with big winners and big losers. Huge risks have paid big off handsomely and even more often have handed out ruin. Those building and running the industry have gone to the ends of the earth and down to its depths to acquire the crude that is made into so much of who we are today. Yergin handles this big canvas well. He writes even handedly about the development of the industry and its geo-political implications. For example, the decision to move ships from coal to oil in World War I had huge implications and added much to British Naval Power. We all know how the issues of oil and the Middle-East and Israel are all mixed together in a dangerous balancing act that has been used by a few for their own ends rather than trying to find a path to peace. This is an excellent book and one that I think essential to one's understanding of the world we inhabit. Please get a copy and enjoy all it has to offer. The book is about 775 pages with another couple of hundred pages of notes, index, and a three page chronology of major events in the history of oil from 1853 to 1991.

This is a detailed and comprehensive discussion of the "history" of oil as a resource...from exploration to drilling to transport, refining, and distribution. The narrative holds your interest with a good deal of detail and "color" while discussing dynamics of oil markets, evolution of relationships and contracts between oil rich states and the organizations that explore, drill, and recover the oil. The result is a solid understanding of the background framing contemporary issues, relationships, and oil pricing that reward the reader every morning when you look at the morning news!! It is just what you would expect from a Pulitzer Prize winner. Not only did I enjoy the read, but I continue to reap the benefits of better understanding of the market and producing states...each day.

Daniel Yergin's readily understood book belies his background. After all, he heads Cambridge Energy Research Associates, a think tank that sells "guidances" for $5000 per copy. Unlike the audience for those reports, this book has a feel that appeals to anyone who wants to read narrative history. He mixes several elements in his book. First, there are a series of personality profiles around famous oil personalities. They go back as far as Standard Oil and the Rockefeller family. There are also some interesting dramas -- oil rushes in Western Pennsyvania, the Six Days War in the Middle East, the last days of World War II. This book changed my understanding of what oil means to warfare. Oil is speed. That makes the difference in the oceans and in the deserts. Winston Churchill saw this in the years prior to WWI when he sought funding for more naval research into oil powered ships. That paid off for England handsomely in both WWI and II. Rommel and the German effort may have failed for the absence of oil. Yergin describes the efforts of the Germans to develop synthetic oil and the inability to continue their blitzkrieg strategy without oil. Same thing for the Japanese. One of my favorite parts was reading about the efforts by the Japanese to make oil from tree extracts in lieu of petroleum. This book won the Pulitzer Prize in the early 90s. It stops just prior to the First Gulf War. The photographs inserted between the text add a lot to the book as well.

A really interesting read on a huge industry that is usually neglected or vilified, but seldom understood. It begins with the American Indians rubbing oil on their joints to ease pain with oil naturally bubbling out of the ground in Pennsylvania, then to how kerosene displaced whale oil as a lighting fuel, then refining improvements that created gasoline (originally a waste product). From its very beginning, petroleum and its products were a product in search of a market. Boy did they find one! By the end it is influencing the outcome of wars (both World War I & II) and the cold war. Not to mention all the troubles in the Middle East and Venezuela, whose economies and people are made worse by becoming Petro State. This is what led one economist to refer to oil as "the devil's excrement."

The new edition costs the same. Yergin's prize-winning history stretches from the first Pennsylvania oil rush in 1860 to the crash of world oil prices in 2008, and it all reads like a novel. Well, not quite. The epilogue, which covers the period after the Gulf war in 11 pages, skims along ten times faster than the rest and feels a bit more like a history lesson. But it gives you a balanced view of recent events. I bought the original version as I started researching energy. Two full bookshelves later, I can tell you, no other book in this field holds a candle to it for fascination and information. I've read complaints about what it doesn't cover so here are some alternatives, but if you want tales of the way greed, ignorance, and cleverness respond to natural wealth and, in turn, shape world history and current global politics, this is your book. For oil geology and exploration, read

This is the most comprehensive history of oil (and pretty much everything else) ever written. Yergin has truly written one of the most important books ever. The Prize goes through the history of mankind from the late 1800s up until the 90s. The Prize explains our history through the perspective of oil and energy, and allows us to understand our past, our present, and even help project the future. Because oil is so historically significant, readers will explore not only oil and energy, but also science, engineering, economics and world markets, some of the greatest businessmen in history, war and military, politics, and the incredible events and circumstances that have made oil so vital to our world. You will also come to realize just how much of an impact oil has played in our society. If you want an understanding of the world since the dawn of oil, this is the book to read. I also suggest reading Yergin's newer book, "The Quest," which follows up on The Prize. Although the Prize is very long, it is worth the read.

The Prize, Oil and how it's shaped our geopolitical world. Yergin does an incredible job (probably why he got the Pulitzer) putting together a coherent synthesis of the history of the development of oil and it's political economic and environmental consequences. This should be required reading for anyone living in the 21st century.

Yergin has produced an outstanding study on one of our most important commodities-OIL. A reader /economics student wishing to understand the history and the recent "turning points" in world crises need go no further that "The Prize". As Yergin notes Field Marshall Rommel laid the ground work for modern warfare and that being ,without oil an army can go no where. With our present levels of oil consumption , the known resources of oil will be fully depleted by 2065. This means our grandchildren will need to have developed new sources of energy.

The size of this book can be daunting, but once you get started it becomes a page turner. I was so hoping to read the author's perspective & inside story on the Iraq occupation, Cheney's secret energy meetings, & the latest turn of events with fracking's impact on world politics now the US is producing more oil than it imports, & could turn into a net gas exporter. But maybe that's part II. Of course we can't ignore the compromises hydrocarbon extraction & it's consumption has on the environment & climate; I would like to have read perspectives beyond the polar political rhetoric and what governments really are planning to address the future population dislocations & water contamination. We have to manage both energy production & its consequences. This book gives rare insights into how nations and their respective power brokers manage and project power and capital to establish security, dominance and economic power. If you're interested in these subjects, as well as oil economics, then read this book.

The engines of the modern world run on hydrocarbons, and especially on oil & gas. and The Prize is an excellent, accessible history of the oil & gas industry, the impact it has had on world history and politics, and the corresponding impact of world events back on the industry itself. Oil fields are a wasting asset -- once found, they require capital for development, and once developed they become depleted. Yergin shows that the industry's story is largely a matter of finding balance -- (1) the balance between the ongoing need to find new sources, the depletion of those sources, and the need to find and hold market share, and (2) the balance between the countries that own resources, the companies that develop those resources and the consumers of oil and gas. Although this is not a very recent book, it explains the principlpes that underlie the dynamics of the oil industry. The reader comes away with an understanding of both yesterday's and today's oil-related geopolitics and economics. Explaining that complex linkage is quite an accomplishment, and explaining it so well and in so readable a manner justifies the high praise this book has won for nearly a generation. Yergin does a very good job of explaining the pre-World Way I and II strategic issues revolving around the availablity and security of oil supplies, and oil-related postwar political issues. It's a particularly interesting book in light of the recent declassification of British documents from 1973 indicating that the US was considering seizure of mideast oilfields during the 1973 Arab oil embargo. If you want to understand the history and economics of a powerful industry and its impact on global economics and geopolitics, read The Prize.

I work in the oil and gas industry as an engineer and have really enjoyed this book and the information it has provided. It gives a chronicling of oil and gas and how it has helped shape the world into what it is now. The book seems unbiased and provides a lot of interesting details and facts I didn't know. To be honest I have yet to finish this book, while I find it very interesting this is a really big book. I love facts and information and history as much as the next engineer but some points in this book seem to drag and it isn't so much the fault of the author it is just how it actually happened and I appreciate the commitment to the details. I recommend this book to anyone interested in how the world has come about using oil and gas and the rich history behind it all.

Dense read, encapsulating everything in the oil industry from the first oil wells in Northwestern Pennsylvania to Rockefeller Standard Oil to the rise in milt-nationals and Middle Eastern surplus. If you have a genuine interest in energy markets, this book is a must. Interesting to see the price fluctuations throughout history on this "not so common" commodity, and compare it to the wide spread panic we have today on peak oil. Whether it is drilling new holes, applying political pressure, conserving or setting new efficiency regulations, it seemed as if the market has and will continue to respond to this powerful material. Also astonishing is the complexity of the oil market. Fully integrated oil companies of the 19th and 20th century - comprising of production, refinery, shipping, and marketing - has increasingly been discarded for a pell-mell approach that combines nationalized companies with capitalism. My overall take away going into the future is that renewable energy can only be acceptable if the transportation industry adapts as well. 2% of home energy is oil (the rest is mostly natural gas, etc.) but our fuel dependent cars are keeping oil demand high (as well as demand of developing countries). Great book, will see the oil industry as "foreign" again.

Any in the energy or related field must read this book. This takes the reader to the beginning of the energy industry and will help understand why the business operates the way it does today. A documentary was based on this book and is finally available on DVD. I recommend both. I had the opportunity to meet Dr. Yergin when he came to the business college at my alma mater. He is an amazing man and author.

The book is written from the perspective of someone who loves capitalism and thinks that the oil economy is the best thing since sliced bread (ie someone about as far from me politically as it's possible to get), but that hasn't stopped me from reading and re-reading this book and recommending to dozens of people. All history is biased, I can deal with that. What makes this book great is that the author is very clear about his perspective so you don't have to guess where he's coming from or who's story he's advocating and because he tells his story with style and with an incredible attention to details, facts, and historical context. Interested in WWII? Read this book. Curious about Robber Baron Capitalism? Read this book. Looking for insights into British policy in the middle east or American foreign policy around the world? Read this book. It's an astonishing work in its breadth, its depth, and its attention to detail. Highly recommended.

In many regards this book deserves a big 5 star rating. Do you want to grasp how we got where we are today? Do you want to be informed before jumping to any political and idealogical opinions? Then you would serve yourself well to read this book. I did however subtract a star for not being pithy. -cons: This book could be condensed. There are many sections that become more lengthy than they really need to be. IT feels a bit aloof in an effort to be objective. The sentiments of various people and groups towards oil (good or bad) were negligible in the book which gave it almost a sterile feel. Perhaps some would argue that this is a pro, but I didn't care for it. The vocabulary was often distracting. A choice of wording that would be much more straight forward would be overlooked in order to use words that felt more "scholarly", but instead felt awkward. It also became distracting when awkward vocabulary was used way too repetitively, for example; his indefatigable use of the word indefatigable. -pros: Overall, it was very readable for such an enormous topic. It was orderly and clearly written. It read like a story and not like a textbook, which was quite a trick for such dense material. I liked how he would let a few years play out in the book then go back and replay those years, but in a different location. It broke it up into bite size digestible chunks. Most importantly, the content was fantastic. I now have a much stronger understanding of just how oil plays its enormous role in the global society. I can't say enough about how well this book informs its reader in an enjoyable and insightful way. Lastly, I found it relatively easy to comprehend. It may at points be dry material, but in no way did i feel like this book was written over my head. I suggest to others who might be wondering about this book not to be intimidated.

I am leaving a 5 star review, as I was extremely satisfied upon the content in the book and everything I learnt once I finished the book. The book is a descriptive, insightful, exciting and at times provocative view on the history of oil. While to book does well in explaining the scientific aspects of this history of oil (i.e. the evolution of the refining process), it focuses largely on the political and economic ramifications of the discovery of oil, the increase in productivity and consumption of oil and eventually the dependence of oil. It provided great insight in relation to the impact oil had on state (i.e Saudi Arabia) and non-State (i.e British Petroleoum) actors and the evolution of state sovereignty over the ownership of oil, especially in developing and third world economies such as Nigeria, Iraq, Iran and Venezuala. By large I am satisfied with the book, however I found faults with aspects of the book. While the author remains largely neutral in his evaluation and description of the history of oil, at times he seemed overtly sympathetic to the oil tycoons, to critical of states and heads-of-state who attempted to assert their sovereignty over the oil companies and at times even mocked leaders such as Mohammed Mossadeq. His description of the 1953 overthrow of Iranian Parlimentary Democracy and its replacement with the absolute monarchy of the Shah. He claims that the overthrow of Mossadeq had widespread public support and that Mossadeq's supporters were largely a band of thugs. Most history books will argue to the contrary and I suggest people attain a book in regards to the 1953 overthrow of Mossadeq that is not written by this author. Other than this however, the book is a great read. It is long and factual.

Reading "The Prize" is no easy feat, and it is certainly not your typical Sunday afternoon engagement. But the book's volume is testament both the complexity of the subject with which it is preoccupied as it is to the author's willingness to approach it with sufficient detail to do it justice (and the book's references are a great guide for further reading). After all, the story of oil begins in America almost a century and a half ago, and, in the meantime, fascinates entrepreneurs, politicians, strategists, economists, and, increasingly, consumers who care about the price on the pump and of the heating oil to keep the house warm. To put all this in a single narrative is no small task; and yet Daniel Yergin succeeds admirably, and it is no wonder that he was awarded the Pulitzer Prize for his effort. What makes "The Prize" a great book is that it is a great read; it is sufficiently attuned to the broader history that it gives the reader a sense of perspective and purpose--it offers a continuous idea of how the part fits in the whole. But Mr. Yergin's talents extend beyond his ability to make sense out of a complicated story; it is refreshing to read his book combine politics and economics in a coherent and understandable fashion; to read him navigate through various historical and political settings, whether that is turn-of-the-century America, conservative Saudi Arabia or revolutionary Iran. And yet the richness of the story is to be found in anecdotes--the brief glimpses which reveal so much in so little space, whether that is insight into a personality or a window into a historical moment. If making sense of a disparate story is the book's chief goal, the need to do so is the book's real significance. Our current preoccupations--whether regarding the price of oil, or the search for alternative energy sources, or the instability of the regions which produce oil--are rather old, about as old as oil itself. In a way, this offers comfort--it is always good to read that previous alarms have proven largely false. But it is also a warning to avoid simplistic ways out--if nothing else, "The Prize" offers a wealth of information which can put oil in a historic context. Reading it will prove not only educational, but it will also help a reader distinguish between the serious and the silly in the public debates on the future of energy in general and oil in particular.

Although concentrated on the oil industry, this book is really an incredible history of the twentieth century, which makes a lot of sense considering the paramount of oil to that era and now. Unlike other general histories, Yergin also covers business history and the rise (and sometimes fall) of the great petroleum companies, from Standard Oil to Exxon, which adds a new angle to the story, as well as lively personalities. A really incredible overview of the modern world.

It delivers across the board: turgid vignettes of the main players, like Old Mossy; insights into events I lived thru but didn't understand till now, like Nasser and the Suez Canal. I don't have any complaints really, just two minor ones: the discussion of detailed negotiations tends to be long-winded, but otherwise that's not a problem. I know this is not a science book, perhaps because Americans tend to be scared by science and chemistry, but I would have loved to have had some chemistry and geology tossed in to replace the overly detailed negotiation accounts. This is a wonderful book, among the top ten non-fiction books I have ever read. Yergin has a wonderfully readable style, loads of information that is easily digested. I heard he was writing a new book about oil, and I am sure it will be great.

Great book. It's long and the author jumps around at times but it's well worth the read. I would suggest jotting down names of the the characters as you read because the author refers back to them a lot as the book goes on. There are so many important figures in the book that it gets a little confusing at times. But, they all become important toward the end of the book. As some of the other reviews suggest, the first half of the book is well written. However, it becomes very fast paced and somewhat scattered about half way through. It's a lot like the day to day operations at an oil company though, several moving parts.

I never knew how much oil has not only changed the face of the earth but that much of history, wars, social life, etc. is tied up with oil. Fascinating story from the time of ancient people using oil, oil tar, to drilling in Pennsylvania, drilling in the Near and Far East, etc. The mere fact that the British converted their battle ships from coal (which England had a lot of) to oil (which England did not) because they could move quicker, showed the gamble on Churchill's part before WWI. I can't recommend this book enough.

One of the best books I have ever read. A very good overview of energy policy , especially oil, and how it has influenced so many aspects of life. Well worth the time.

Read this book in an oil history class. Didn’t have time to read the whole thing but my mother took my copy one day when she started reading it at my house. She hasn’t given it back so I decided to buy another copy!

The Prize is a history of oil starting with the first oil well in Pennsylvania and ending in the 21st century. Yergin writes well when he deals with major world events like the world wars, in which he recounts the role of oil in the military conflicts. The interesting and often eccentric major characters in the oil story are also very well treated in the book as are the histories of the oil companies they built. The story of OPEC and the major personalities that played key roles in its history and its relationship with the oil-importing countries is well told, interesting and informative. Much less interesting are the minor events that took part on the world stage. For example, Yergin devoted one whole chapter to the social changes that came about in the United States arising from the widespread use of oil. While I understand the need to discuss this, it really didn't require a major chapter in the retelling. The author's pedestrian pace made itself felt when he spent so many pages talking about the rise of motels and highway eateries. Throughout the book, the author took great pains to impress on his readers the importance of oil. Why anyone with any sense needs to be told this is beyond any rationale. Parts of the book became quite intolerable when Yergin kept pressing this obvious point. I feel it would have been much better if he had left it alone. The history on its own brought the message across very strongly and needed no helping. Another weak area of the book lay in the non-narrative analyses. For an "expert" on oil, Yergin's analytical attempts to answer the "why" questions lacked profundity and constantly resorted to generalities. For example, on Pages 666-669, the author attempted an in-depth analysis of the reasons that lay behind the panicky rise in oil price after the Iranian Islamic revolution. It amounted pretty much to market forces and panic buying! Why he needed so many pages to say so little is not just mystifying, its repeated occurrence in the book was extremely frustrating to me. The "new epilogue" (as advertised on the cover) is pretty much useless. Instead of updating the book and bringing it into the new century, the author used the 11 pages to show how relevant his book is and how it has stood up to time. Instead of giving details of new developments in the great story of oil, Yergin makes much effort to remind his readers that he has covered similar events in his book.

One of my favorite books. I've read it twice and I reprint several parts to hand out to students in my history courses. Tremendously researched piece of work and extremely well written. Includes a wide range of eras, beginning from ancient uses of oil to the first drilling for oil to Rockefeller's founding to the British Navy's transformation to the importance oil played in WWI and especially WWII. Furthermore, Yergin goes into extreme detail on the Post-WWII chase for oil, especially in the Middle East, and how this chase for "the prize" influenced and affected geopolitics. Highly recommended!

This is a well written, easy to read and understand, great history of how oil has impacted our world 1850-2008. Highly recommended for those who want to understand world events. When people talk about “following the money” what we often should do is follow the oil.

Yergin really does understand the industry and explains it well in this book, which should be essential reading for all energy industry operatives. From it's humble beginning to its world conquering power through to its potential demise. The Hydrocarbon industry has influenced every aspect of modern life, for good and for bad!

The word "epic" appears in the title and it is a truly deserved moniker for this exceptional scholarly read. The book is wonderfully researched and the prose is easy on the eyes and a delightful intellectual banquet. Simply stated, this is a must read tome for those interested in world history and the vital role oil plays in it. A tip of the hat to Daniel Yergin for this superb contribution.

This is by far one of the best books I have ever read. Read that last sentence again. Daniel Yergin explains, in a very familiar voice, the history of all things petroleum and the influence it has had on our world and social interactions. This IS NOT a dry history book in the least--it is packed with anecdotes of important, influential, strange and intelligent people. Understanding the global economy and especially the energy industry is paramount in our times (in my belief). This is a great primer for the relations and tensions between almost every social group in the world and has remained (and probably will remain) relevant since its publication. As a petroleum engineer, I recommend this book for those who have a background in science or engineering and even those who don't are likely to appreciate the way Yergin breaks down even the scientific jargon (just the way he breaks down the history for number-types like me). 5 stars--the only thing I could ask for is updates in the coming years as the energy industry continues to emerge in prominence in our daily lives :)

Excellent book on the history of oil and how it has impacted almost all aspects of modern life. It took me quite a long time to read the whole book and some chapters were more interesting than others but when I finished, I felt that I had such a better understanding of why sometimes the U.S does what it does on far away shores. It also gave me a greater appreciation of the undulations of gas prices. This book should be part of every high school history class!

I am a chemical engineer in the oil industry and this book intrests me for obvious reason, but... This book is about the impact oil and mankind has had on each other. Oil has shaped the world economy and power structure in business and goverment since it was first drilled for in Penn. This book is more about the intrigue than technology. The goals of this book is to show how man hads become to depend on oil without knowing it. How oil has shaped history, warfare and peace. I have had several friends who are not engineers say that they have loved this book. No hard science background is needed. Yergin is weaves a story of people and their fasination and fixation to control the worlds supply of oil. THE PRIZE is the perfect title.

This book is basically a history of the oil industry, from the first discoveries and uses in Pennsylvania in the 1800's to the present. The book shows how oil influenced world events like World War II and the Suez Canal crisis. In addition, it shows how the major oil companies like Shell, Exxon, and Texaco came about and how they negotiated (and most of the time abused) the host countries. The best part about the book was its global perspective as it covers all of the major oil producing areas from South America to Azerbaijan to the the Far East, and of course the Middle East. If you are looking for one good book about oil, then this is the one for you. Enjoy. I know I did.

This is a very long book - it takes commitment to finish it, and I'm not sure my wife appreciated the precis I gave her every morning at breakfast, however it did show how oil is linked to the many upheavals in the world - and should be recommended for voters and politicians alike.

If you want to kill some of your spare time and want to get some keen understanding on chronicles of oil evolution, this would be a great book for you, long but pretty thought provoking and easy for read. Also will help get the gist of current oil dilemmas.

THE PRIZE by Daniel Yergin is an 884 page history book about the oil industry. High points include the discoveries of oil in Pennsylvania, Texas, Baku, Sumatra, Iran, and in off-shore locations. (Baku was an independent duchy that was taken by Russia in 1813, by way of the Treaty of Gulistan. But now, Baku is the capital of Azerbaijan.) High points of this book also include info on collaborations between companies, e.g., Standard Oil of California, Standard Oil of New Jersey, Texaco, Socony, Gulf, Royal Dutch Shell, British Petroleum, and Compagnie Francaise des Petroles (see page 503). The book avoids chemistry, and avoid disclosing innovations relating to the detection, drilling, and refinement of oil. The book is mainly about politics. For me, the most exciting part of the book was about oil supplies for the Allies and Axis countries during WWII. For example, we read that U.S. General Carl Spaatz, under Eisenhower, led an attack on May 12, 1944 of 935 bombers against Germany's I.G.Farben synthetic oil factory in Leuna, Germany (page 346), and on May 28th attacked Germany's oil facilities located in Rumania. The book is essential reading for anyone interested in WWII, in the Middle East, or in how the world is put together. The book is abundantly readable, and can be understood in its entirety by any intelligent high school student. Difficult words rarely occur, and they make their appearance on only a dozen or so pages in the entire book. For example, we find imbroglio (page 477), condottiere (page 501), disquisition (page 521), nostrum (page 570), and hegemony (page 638). That's about it for the difficult words in this book! PHOTOGRAPHS. The book contains 32 pages of glossy B & W photos showing, e.g., an oil well in Pennsylvania (1859), an oil field of 15 oil wells in Pennsylvania (1865), George Bissell, John Galey, Spindletop oil well (1901), Marcus Samuel, oil well in Sumatra (1885), Calouste Gulbankian, King Ibn Saud, Germany's synthetic fuels plant before and after being bombed, Mossadegh, George McGhee, etc. The following (below) outlines some of the highlights of this book. JAPAN IN WWII. In entering WWII, Japan believed that it had enough oil to last for two years, and that afterwards it could get oil form the East Indies (Borneo, Balikpapan in Borneo, Sumatra). In fact, the Japanese were able to capture enough East Indies territory to provide 50 million barrels/year, sufficient for the Japanese fleet. Japan discovered a huge oil field in Sumatra, called THE MINAS STRUCTURE. However, a problem was that Japan did not bother to provide convoys to protect their oil tankers. Eventually, Japan provided convoys, but the US used the radio signals from the convoys as homing devices. US submarines, by early 1945, cut off 100% of Japan's oil supply. In desperation, Japan tried using tug boats pulling rubber bags filled with oil, but the oil dissolved the rubber. Also, Japan decided to build coal-burning ships, but these sailed slowly. Also, Japan turned to pine roots, which were dug up and distilled in thousands of small stills, producing 75,00 barrels of oil/month (pages 73-75, 318, 350-364). RED LINE AGREEMENT. This concerns Mesopotamia and interest by Anglo-Persian Oil Co., and by Turkish Petroleum Co. Turkish Petroleum Co. was assembled by CALOUSE GULBENKIAN, son of a wealthy Armenian who imported Russian kerosene into Turkey. In 1917-1918, that is, at the close of WWI, England realized that it would need oil for any future wars, and thus decided to invest in Mesopotamia and Persia. Three groups, (1) Anglo-Persian, (2) Royal Dutch, and (3) American companies, in 1925 sent expedition to Iraq, and on October 15, 1927 at BABA GURGUR discovered a huge source of oil (page 204). A contract was then signed, giving Royal Dutch/Shell (24%), Anglo-Persian (24%), French (24%), Near Eastern Development Co. (24%), and Calouse Gulbenkian (5%) the indicated percentages. The contract included a map with a red line circling Turkey, Saudi Arabia, Israel, and Iraq (but not circling Persia or Kuwait) (page 204-205). The RED LINE AGREEMENT provided that participants in the Iraq Petroleum Co. (IPC) could not operate independently within the red boundaries. They were required to act in unison or not at all (page 282). After WWII, American companies (Jersey and Socony) argued that the RED LINE AGREEMENT was no longer valid, but France and Mr. Gulbenkian argued that it was still valid (pages 413-414). France needed the RED LINE AGREEMENT to be intact, because without it, France would have no access to middle eastern oil. Gulbenkian wanted it to remain intact, because IPC and its predecessor (Turkish Petroleum Co.) was his life's work. The book then details the formation of ARAMCO, a company that was totally American, with the concurrent dissolution of the RED LINE AGREEMENT (page 419). The book discloses the plan of STANDARD OIL OF NEW JERSEY and SACONY to merge with STANDARD OIL OF CALIFORNIA and TEXACO, in order to form ARAMCO. This merger agreement was signed on March 12, 1947. Aramco means, "Arabian-American Oil Co." Initially, Aramco was only Standard Oil of California and Texaco (p. 410), but later it consisted of the above four companies. The book highlights one aspect of the Aramco merger, namely, the opinion of KING IBN SAUD. King Saud was interested in only one thing, namely, assurance that none of these four companies was controlled by the British. In particular, he was worried about Jersey and Sacony being controlled by the British. But as it was, Aramco was 100% American. CRITICISM. A failure of this book is that it does not explain the practical consequences of dissolving the RED LINE AGREEMENT, and the expansion of Aramco into four companies. In other words, the reader is not told if Gulbenkian's access to particular oil fields, or if his fees and profits were changed. Also, we are not told if Aramco's access to particular oil fields, or if its fees or profits were changed by dissolving the RED LINE AGREEMENT. Please note the following general criticism of this book. If you ask a person who was "really there," and who experienced first hand the events in history that are disclosed in this book, it is possible that you will learn that some of the narratives in THE PRIZE are not accurate. But type of shortcoming typical of many newspaper reports, and it might also be expected to result in a book that is based on newspaper reports. It is thus the case, that THE PRIZE is mainly trustable as starting point -- good for initial orientation -- should one be possessed to embark on a career relating to the oil industry. SPINDLETOP. Patillo Higgins, a 1-armed mechanic and lumber merchant, noticed gas bubbling through springs at a hill called SPINDLETOP, near Beaumont, Texas. In 1892, he organized Gladys City Oil Co., but geologists investigating the area called it nonsense. Higgins found a partner (Anthony Lucas), and Lucas went to Pittsburgh, PA to attract the interest of wildcatters (John Galey and James Guffey). Galey was a geologist. Guffey was a politician and promoter who dressed as Buffalo Bill. On January 10, 1901, Higgins' team struck oil at 880 feet deep, and oil flowed at 75,000 barrels per day. Land that previously sold for $10/acre now went for $900,000/acre (page 85). The result of SPINDLETOP was that the focus of America's oil production moved from Pennsylvania to Texas and Oklahoma. Shell Oil. Co, located in London, and run by MARCUS SAMUEL, took an interest and signed a 20-year contract with Guffey for marketing oil from SPINDLETOP. REZA PAHLAVI and MOSSADEGH. At the halfway point in this book we find an account of goings-on in Iran. This part of the book is fairly dense, and so provide the status of things by way of these bullet points: (1) Reza Pahlavi (the father) (1878-1944) was pro-Germany. He died in exile in South Africa. (2) Reza's son, also Reza Pahlavi (1919-1980) became king at age 21. (3) Islamic fundamentalists led by Ayatollah Kashani hates all foreigners, and hates the fact that Reza allowed women to not wear veils. (4) Bribery is the rule among all politicians in Iran. (5) In Iran, it was almost universal to hate foreigners, especially the British. (6) Elevated hatred was directed against Anglo-Iranian Oil Co., a British company. (7) United States, represented by George McGhee, Asst. Secretary of State for Near Eastern Affairs, was afraid of Soviet's taking control of Iran, and in order to fend off the Communists, the US told Anglo-Iranian Oil. Co. to increase royalties to Iran. The result was a hike in royalties in the year 1949, paid by Anglo-Iranian to Iran. (8) US urged British government to pressure Anglo-Iranian to make Iran a bigger offer. But William Fraser (1888-1970), head of Anglo-Iranian (later named British Petroleum), had from experience realized that Iranian attitude was one of "ingratitude, deception, backbiting, and new demands." (page 420). (9) Fraser was aware that other oil producing companies were winning 50/50 agreements, and at that point (autumn 1950), decided to give more money to Iran. (10) Mossadegh became prime minister of Iran in April 1951, and nationalized Iran's oil, and declared that Anglo-Iranian Oil Co. to be abolished. (11) Britain made plans to attack Iran, but to limit its attack to the capture of ABADAN island. The US was against this, since this might inspire the Soviets to attack Iran from the north. (12) But Britain countered that if it did not attack, all middle eastern countries would begin to nationalize the work-product of foreign investments, e.g., Suez Canal (pae 458). (13) In July 1951, AVERELL HARRIMEN arrived in Tehran to act as a broker. Harrimen stayed in a mirrored room in Shah's palace. Harrimen tried to make Mossadegh understand the expenses entailed by Anglo-Iranian in marketing the oil, e.g., expenses for wharves, storage tanks, pumps, roads, rail tanks, and a fleet of tankers (page 462). But Mossadegh refused to allow Anglo-Iranian Oil Co. to resume business in Iran. (14) On Sept. 25, 1951, every last British employee of Anglo-Iranian escaped from Iran. (15) The British set up an oil embargo, preventing all Iranian oil exports, and within a few weeks, Iranian oil production dropped from 666,000 barrels/day to only 20,000 barrels/day. (16) George McGhee tried to persuade Mossadegh to allow ROYAL DUTCH/SHELL (not a British company) to operate what was formerly Anglo-Iranian (page 466). (17) At this point in time (1943), rule under Mossadegh involved murder, chaos, and poverty. (18) On August 18, 1953, Reza Pahlavi ordered Mossadegh out of power (details on this accomplishment not explained by this book), and Reza Pahlavi became extremely popular in Iran (for reasons not explained by this book). (19) On October 29, 1954, Reza Pahlavi agreed to let a consortium operate in Iran (page 476). This consortium consisted of *Anglo-Iranian, *Standard Oil of New Jersey, * Socony, * Texaco, *Standard Oil of California, *Gulf, *Shell, and *CFP (a French company).

To call the oil industry a business simply does not do it justice. When I worked in consulting, it was always my favorite area of work simply because of the importance and complexity of the issues involved. Yergin does an amazing job of tracing the political, geographic, military, and economic impact of this critical resource. Weighing in at 788 pages, it is amazingly complete. I was impressed by both the breadth and depth of the material covered. Yergin is also a very good writer. He uses enough anecdote to make the material readable without reducing the weight or the substantial feeling of the work. My only regret was that he hasn't updated the book. I would be fascinated to know what Yergin would make of post-9/11 world events. Highly recommended for anyone interested in the impact that natural resource and industry can have on geopolitics. Obviously also recommended for anyone with an interest in the history of oil.

Great read. This book provides a history of oil development from the beginning through about 1990. Some of the stories are captivating; classic little guy making it big tales that make it hard to put it down. The first two-thirds of the book were the best, but the geopolitical struggles covered in the last third are important for understanding where we are today. I also purchased the sequel, "The Quest", which takes you from 1990 to current. I recommend both books, but "The Prize" is definitely the better read.

This 1992 Pulitzer Prize winning history of the petroleum industry is a mandatory read. Facts and reality inform and arm the reader for survival in today's rapidly changing physical and political climate. Daniel Yergin, clearly and captivatingly recounts the absolute power of petroleum to dictate the course of modern history. This fascinating book will frame your world view.

This book is written incredibly well. Daniel Yergin tells the history of oil like a story, keeping the reader interested the whole way through. He illuminates many turning points in history as products of oil, a history not commonly taught in school. Recommend this book to be in everyone's library.

Combined with The Quest book; the entire history of oil exploration/development from 1859 (i.e., day one starting with Col. Edwin Drake) to the present is explained. If you want to know the oil business, this book and The Quest are the ones to read. Lengthy reading but thorough. I highly recommend this book.

Who Knew? The facts imbedded in this book will startle and dazzle anyone who reads it. Very well written, and though much has happened since this book was released, once you read it you easily realize it has all happened before. I plan on reading The Quest in the near future, as it is sure to be a good read too. Mr. Yergin is a very capable researcher, and a great storyteller.

Great book on the history of oil and how it has affected the world in so many ways. Well written.

The Prize is a feast of a book. It is one of my all time favorites, including novels, biographies and the lot. Daniel Yergin, the author, makes a very exciting plot of the history of the oil business, starting in Pennsylvania in 1859. The best parts, both analytical and epical, is where he writes about the upstream part of the oil business, ie. exploring, finding and producing crude. The story takes us from Pennsylvania, to Texas, Indonesia, Russia, Venezuela, Mexico, Persia, Kuwait and Saudi-Arabia to Alaska. Yergins main thesis is that oil became a strategic commodity around 1900. Nations and governments want control over crude, because they are unable to conduct wars without it. Therefore they are willing to go to war to secure oil supplies, and availability of oil determined to a certain extent the outcome of WWII. The book is also a very good account on general world history between 1859 and 1991. Interesting and fun anecdotes flourish, but Yergin is still keeping the analytical banner high. Fantastic book!

This mammoth history of oil, power and money is a must read for those who want to understand the way the world works. Interesting men and women throughout the last 150 years shaped our development and understanding of energy resources. Nonetheless, as highlighted in the Epilogue, individuals, even great companies, have lost influence to exporting countries and their governments. The public sectors put us at greater risk than private markets, vis a vis THE MIDDLE EAST.

This is the best history book I've read in my adult life. You won't fall asleep reading how we went from the first discovery of petroleum to our civilization today. Awesome story telling surrounding the founding of the biggest oil corporations in the world. I kept flipping to Safari on my ipad to look up the wikipedia articles of the names I was reading. It made for slow reading but very interesting.

This is a long book, but if you want to write a comprehensive story of oil and its impact on the economy spanning more than a century, it's going to be long. There's enough stuff to keep all of these pages filled, for sure.

This is the best book on the history of oil. Fascinating.

Reading "Prize" is like reading the history of the last 120+ years through the lens of the oil business. When I started reading this book, I knew very little about the oil business. Today, I am fascinated by the topic. I almost bought 19th century advertisement posters of the Standard Oil Company when I was in Bombay recently and was busy explaining the ownership structure of Q8 to my family while driving through Italy. The author does a great job developing all personalities involved and explaining the circumstances behind what they did at the time.

Daniel Yergin's "The Prize" relates the modern history of oil and its implication on global political and economic issues. Throughout this nearly 800-page effort, Yergin does a terrific job of presenting a detailed and comprehensive account that is informative and extremely entertaining. Yergin describes the creation of the major oil companies and how their relationship with the governments of the oil-producing nations evolved from a tenant/landlord relationship into full blown partnerships. Some of the things that I learned that surprised me were: 1. The number of key political figures from the 20th and 21st century whose political careers had ties to oil. 2. Synthetic fuels have been discussed and produced since World War I. However, the low cost of oil, relative to the creation and implementation of these synthetic fuels has made it cost-prohibitive to make it a true alternative to oil. 3. The role oil has played in nearly every military struggle since its discovery in the late 19th century. 4. How the low cost of oil over the last century is what has really has transformed the global economic state of affairs. This book is written from an objective perspective that is non partisan in any shape or form. Yergin does such a great job presenting detailed information in such an entertaining and engaging manner that I rarely had to consult the index when key figures or corporations were re-introduced throughout the narrative. I highly recommend this book to anyone that is looking to learn more about the role oil has played within modern world history.

A long, hard read. I did skim some sections. But that said, The Prize is worth the effort. Great overview of the oil industry, and insightful commentary on the importance of oil to our society. Helps one understand the role oil played in the shaping of nations, especially in the Middle East. Recommended....

An excellent book for anyone involved with Energy but most importantly, policy makers and leaders of the future geopolitical economy. A long read but a story well told and a necessary read for innovators and entrepreneurs looking at lessons learned that may influence or impact the fourth industrial revolution.

If you love history, and think you understand the world of oil, this book will really give you the complex, nuanced, multi-national reality, with all of the avarice, risk, bad politics, and greed made clear. Author is a life-long, legitimate scholar of the subject, and it shows.

Excellent-extremely thorough review of the oil industry from its beginning until the late 20th century. Felt like the author was going through some period and events rather quickly, in the end of the book, probably to keep it shorter (still at 780 pages before then 100+ page long notes/references section), and perhaps he could have spent more pages on these rather than events of the 19th century. Yet, it is still great and very comprehensive.

I've only just begun reading this for a class on the history of the American petroleum industry, but it is by far one of the most readable textbooks ever. I'm honestly not super interested in the topic, but the first chapter was a breeze, informative, interesting, and easy to digest. I'm a fan!

Great. One of the best history books ever written. Tremendous amount of interesting information. Very informative. I rank it in the top 5 history books ever written and i taught history in high school for 26 years.Yergin did a terrific job in telling a complex story in a very readable manner. 10 stars.

This is among the best books on world history that has ever been written. This covers the history of oil from Spindeltop to Saudi Arabia. It stops at the first gulf war although a second edition is in the work to bring it up to more present times. Although a daunting length it truly is an amazing book that is well written. Once you start reading you will not put it down until the end so set aside plenty of time to read. This covers politics, geology, history, and economics in a wonderful blend that is smart and convincing. It is very well researched and Mr. Yergin does an excellent job presenting his material. Highly recommend and 10 starts is deserved for this monumental work.

Good book

This book was a steal for how big it is and that it was a hard cover! I started reading it in the library and since it has so many requests on it I haven't been able to finish it. If you have any interest in the history of oil this is a great book and told in such a way as to not completely bog you down in the nitty gritty details. The photos in the middle sections of the book are great too.

One of the truly excellent non-fiction books. Presentation of truth with clarity makes it a must read. I read the first edition 30 years ago and marvel at how the then apparent situation is the exact situation we have seen develop with some of the same characters in the earlier book having an impact on todays events. AWESOME!!

Superb! Looking at American History from a new paradigm; ironically more important today than ever in understanding how we got to where we are. Highly recommend it.

As described. Worked well for class

Awesome overview of the oil industry from the early 1800s up until the 90s. Definitely one of the first books you want to read on the topic of oil. It'll make you want to read the source material for many of the historical events.

Well written and thoroughly researched, I believe this book sets the benchmark for treating the development of the oil industry. Highly recommended.

Tour de force. This is excellent reading, mostly for contextualizing much of the industrial era along side the advent of oil. Part history, part biography, part analysis, you'll find yourself turning the pages to find out what comes next. Well done.

Mr Yergin wrote a valuable history of the oil industry. This book is a must read for students of 20th century American history.

Gift

Really an eye opener on how deeply entrenched the network of oil is within our history and what a horrible history it has and continues to have. The wars/exploitation has been happening through centuries and we still continue to use our gas guzzling cars which has bankrupted and caused so much sorrow in the world. Thanks to the author for writing this book.

Tons of historical info, but easy to read... it helps make sense of many of the political issues around the globe be more understandable and the power and control the petroleum industry exerts worldwide

Excellent. Quite well written, detailed without drudgery, often has a narrative quality. This book has been highly, even insistently recommended to me for years and it certainly lived up to the hype. A rare occurrence. Fantastic book. I look forward to reading more of Mr. Yergin's works. 5stars, absolutely.

Great book on the history and evolution of the energy industry. I had the pleasure of meeting Dr. Ervin at a talk at the University of Houston Bauer College of Business. He is the preeminent authority on all things related to the oil industry. It is also available on DVD.

One of best books I’ve ever read. Well researched-a great read!!

I am amazed by how comprehensive and yet fascinating of a history Daniel Yergin has woven together. Perhaps one of the best and most relevant histories I have read. If you are at all concerned about oil's impact on the environment, this is a must read in order to better understand the oil industry and its beginnings. Thank you, Mr. Yergin.

Yergin lays out the history of Oil and how it's shaped our domestic and foreign policy for the last century. And for 900+ pages it's a concise, account of how important Oil is to our civilization, how dependent we are on oil as a "cheap" energy source. It's a great book. There are criticism of Yergin's point of view, but read this before you read any other book on oil. It's a great primer.

It was interesting in terms of history. Well written. The details became tedious, especially in terms of all the oil ministers and their back stories.

The book remains the definitive history of the oil industry. Its analyses and conclusions are as relevant to understanding the current situation with the oil market as it was in the 1990s. Anyone truly seeking to understand the degree to which oil has driven and continues to drive foreign and domestic policy and market decisions should read this book.

A thorough history of the oil industry, from the beginnings in Pennsylvania to the first decade of the 21st century. Ten years after, there is still history we need, and we hope that Dr Yergin will provide. Maybe the next book will do?

Well we are in the boom again - would be nice if the author added an update for the current status. The history of oil and how it came to be what it is gets laid out in such an interesting trail of narrative that it's hard to put this down. I really recommend this for someone who wants a meaty book to read that fits so tightly into our current society.

Great book if you wanna know the history of oil industry, how it all started.

Insightful, detailed, data and events driven and compellingly readable compendium o the history and economics of Energy by one of the very best authority on the subject. Thank you Mr. Yergin for this thoughtful gift.

This is where it all began. The story could be a dry history, but it begs you to contine reading it. You just have to turn the page!! I love non-fiction, but even still I think even people who are not fond of non-fiction would find this book easy to read, interesting, and hard to put down. I am going to go on to read the next book, "The Quest." I'm looking forward to it!

Fasten your seat belts!

Very detailed, thoroughly readable, and one of the most compelling nonfiction books that I have read, especially given the subject matter. However, it paints what I'm sure is an overly benevolent picture of the oil majors and Saudi Arabia... Possibly this was the price of access, but it detracts from what could have been a single volume of everything a layman really needs to know about the history of the industry.

A must read for anyone trying to comprehend big oil, big money and the search for energy sources. Well written and researched.

I am pleased with The Prize.

There are few parts of our lives that are not touched by the oil industry. This is a fascinating history that shows the often significant role oil played in almost every major event of the last century. The colorful characters & the author's storytelling ability and thorough research make for a compelling narrative.

Great book. It is long but once you have read this book you will understand the oil business and its machinations.

Fantastic book on the history of oil. Highly recommend it. It's a long and heavy read, very well written, with a lot of history and detail.

Outstanding history of oil politics, economics and foreign relations. Even though this book was published in 1991 the information is not stale and the information on Sunni and Shia conflicts were well known when this book was written. Yergen who is also the author of "Commanding Heights" the proclaimed PBS documentary is an excellent writer. Althought I came late to the table to read this book it is still as valuable today as it was when first published. If you are interested in oil and oil policy this is a must read.

Fascinating account of the history of the oil industry. I would say that just the four chapters on World War II--and the oil role in it--are worth the book. Reads like a novel, where Yergin jumps back and forth between history and details about the industry main players. And the amount of details that enrich the historic account is just perfect. The research done to put this work together must have been mind boggling.

Disgusting industry secrets revealed

This is an excellent book. I wanted to understand the oil industry. Mr. Yergin, brilliantly illustrated the economics and political aspects of oil. This book was fun to read (bonus). If you want to understand the oil industry read this book.

LOVED THE BOOK.. MAKES ME SMARTER THAN MOST PEOPLE RE OIL.

I waited months for this book at the library, and when I finally got it and couldn't renew it, I went in and ordered the book. What terrific insights into the oil market and how it got to be the vital commodity that it is today.

Arrived on time. Enjoying the read

Great!

Gripping and well written. I thought I would tire of the history of oil but the entire story is fascinating. It has forever changed my view of world politics and the global economy. The authors access to primary figures in the saga is very impressive.

This book starts from the early days of oil and takes the reader into the 90's. The book was a massive best seller and for good reason - it is simply brilliant. He has since written a new book called "The Quest" which takes the reader further on in the history of oil. What I found most interesting is the section about WWII. A huge part of the Allies success can be attributed to the almost endless supply of oil from the USA. Both Germany and Japan were severely limited in their oil supplies and this led to there ultimate defeat.

An outstanding read of the implications of oil as it pertains to history, politics and economics. This book is a must read for anyone interested in the hydrocarbon history and economy!

After reading this book, you'll have a very good understanding of how the oil industry developed from its beginnings, for all countries involved. The evolution of the industry and companies involved is thoroughly explained, as well as their impact on the world economy and global politics to the present. This is a completely interesting book on the subject.

I took this out of the library because my financial advisor recommended it. It's long, but absolutely PACKED with events. Altho I'm retired and not terribly interested in anything too complicated to read, I could not put this down. Was so impressed with it, I bought a copy and am now re-reading the second time 6 months later and getting more out of it as I re-read. This book completely changes both my understanding the history of the US and international relations for the last 150 years AND how I am investing. Outstanding book, I recommend without reservation.

I guess when it comes to making sense of how the world works, it is impossible without understanding energy and money. In that, this book is really helpful i think.

Ok so I am fed up With the best seller list, so now I read to educate myself. This book gave a very good history of the world according to the oil industry. I thoroughly enjoyed reading it and I developed a different understanding of the oil market and how it impacts foreign policy.

Arrived as stated.

could be ok, bought for my class.

They say history repeats itself, well it certainly seems to when it comes to oil. Constant fear of shortages, constant complaints of prices and profits. This book is a wonderful look at the industry surrounding the substance our prosperperity is based on. A highly interesting collection of characters and situations. I recommend it to anyone.

Great history of oil exploration, use and influence on world politics.

Excellent and well written.

If you want to know how a single commodity shaped global politics for the last century and a half, this book is it. A delightful and complete economic history.

This is a very extensive history of the world of petroleum. It is well researched with lots of detail. It does integrate well with history, tying together previously disparate events with the common thread of oil.

Yes, it's about the discovery of oil, the history of the USA’s rise to be “The World Leader”, the world that I studied in high school and college history class. But never before was history made so exciting with insights and details that brought the events, and most of all, the people, into reality. I was observing the events and hearing the world leaders of the time discussing, planning, executing. I was living through the establishment of the new world order. Very well done!

An essential read to understand essentially how the United States was built and how oil affects global sovereigns in unimaginable ways. The finest work form Yerrgin no doubt and will be a classic.

A long but thoroughly fascinating history of the oil industry and its importance in world history. Well-written, detailed but not boring, it's an extremely good book and recommended for anyone who wants to understand the events of the 20th C.

Great book, but if you'd like to save 18 bucks and the week or two it would take to finish this book, the book is available as an 8 part roughly 7 hour documentary on youtube.

Dan Yergin is a genius. I read the first edition in the 1990's and it is no less timely now than it was then. The new epilogue is succinct and Dan's command of the English language is remarkable with unique wording and phrases that will be used in many students papers for decades to come. Reading the new one was like visiting an old friend. I often see him on the business channels on TV as he is recognized as a worldwide expert on oil. This is a treatise on world history from the perspective of oil by a truly brilliant observer. Barry Reinhard

I wish this book was required reading in my undergrad business classes. Currently reading the follow-up "sequel"

Incredible review of history and supply chains for the oil industry. Highly recommended for anyone interested in geopolitics, business or overall strategy

Outstanding! Had to buy it for an introductory petroleum engineering course, much of which was centered around this book and the history of the oil and gas industry. Turned out to be one of the few books I've actually looked forward to reading for class! Very well written, excellent history of the petroleum world and all of its effects on society, geopolitics, etc. Definitely worth the read!!

Oil and Gas news is in the headlines again. This book which I've read before is essential to understanding all the dynamic forces involved. Great historical account from the beginning to about the Gulf War. Very good.

Very informative and complete about the history of the oil industry in the US and around the world.

Daniel Yergin has an interesting way of writing history and does it especially well for the travails of past oil entrepreneurs and tycoons. He couches the word oil in terms of "the prize" and places it as a commodity at the epicenter of the modern economy. He makes the case for the resource's growing power and influence in the modern world and leaves the reader to determine whether we are better or worse for it.

I rate books and movies thusly: 1. I can't wait for it to end 2. I'm indifferent whether it ends or not 3. I don't want it to end This book I didn't want it to end. Fascinating history of petroleum.

The book looks great. It’s in perfect condition. Took a little longer to come than I would have liked. But it’s here and I’m excited to start reading it for my college class I’m taking.

While scanning the Caltech web page, I discovered that Daniel Yergin was their commencement speaker. I was intrigued because he wasn’t a famous scientist, leading politician, bureaucrat or big money man – but simply a writer. So I investigated further and found that he is an exceptional writer indeed. His book “The Prize,” a 36 chapter comprehensive history of the oil industry and it’s effect on modern history, won a Pulitzer prize. It is a well-written, larger than life, rollercoaster of a story that received extremely high reviews. It includes Rockefeller, Churchill, Hitler, middle eastern potentates, presidents (e.g. Eisenhower, Bush and Bush W Jr.), grand strategy, oil buccaneers, etc. Since energy and sustainability are among the central issues of our times, this book provides both an exciting read and a wealth of insights. Whereas I used to think that the great economic explosion in the US of 1950’s-1970’s and the health of the middle class was due to having the only industrial system left intact after the war, he demonstrates that much of this also depended upon exceptionally cheap oil due to major overproduction. Upon further examination, I discovered that nearly all of the book was originally published in 1992, with a brief Epilog chapter added in 2008.

A very well written and detailed book on the subject. It is only missing a few things. It does not talk ewnough about the role that subsidies and tax incentives have played in the United Statesa through th "Inatngible Drilling Costs" and the "Depletion allowence" or Globally through a variety of other bad vpolicies. The International Monetary Fund's anual working paper' "How much are Global Energy Subsidies?" ,[...] , is the best I have found for that. I recommend reading the 2016 working paper in full text. It is also very behind the times when it comes to renewable energies, electric cars and other solutions. But that is understandable considering when it was last updated and when you consicer the pace at which they are improving and being implemented.

I recommend Daniel Yergin's book to anyone interested in the oil business. It should be required reading for everyone beginning work in any aspect of the energy industry. I have multiple copies and hand one to every new hire. The only complaint I get is that it leaves them short on sleep because they can't put it down. It is a real credit to Yergin's style and storytelling ability that a nearly 900-page history can be such a compelling read. My only complaint is that I somehow managed to lose my signed copy in the process.

A must read for anyone in energy sector. Enjoyed the detailed history lesson and relevance to the world as it is currently

I bought this book for a college course. We did not read through the whole book, but what we did read was very interesting. I did get bored of it at some places, but it is definitely worth the read.

This is an exceptional book. Yergin is very careful about his references and not drawing conclusions unless the facts support them. Loved it.

this is so well written, it's enjoyable to read. I would consider this an educational book rather than easy reading . Having said that, I am finding it is easy to read and retain the information presented.

An in depth analysis of the oil industry up to towards the end of the last century. Gives the reader such as myself insights into the industry and the business world and the nature of globalization. Very very good read.

Great insight to ongoing dilemma .Recommend to anyone involved in the oil and gas industry one of the best books I have read .

Good book.

Does a great job of explaining why the politics, geography and economy of the world is the way it is.

Dispels myths about US reliance in Middle East oil alone. Provides the global picture by detailing Russian and Venezuelan oil development. Exposes the vulnerability of oil reserves and exports when controlled by unstable nation states. Compelling and easy to read.

Item exactly as described. Delivered on time as promised. Highest recommendation!

Truly worth the pulitizer prize, a great read, a great view of history..but..don't buy the paperback. This book literally fell out of it's binding before I got through the first one hundred pages. By the time I got to the epilogue I had little more than a pile of loose pages. I don't own the hard cover, but I can tell you that the soft cover is a piece of junk. Too bad the binders didn't respect the greatness of the book.

Get me out of this screen get me out hi hi hi hi hi at at at at at at at at of of of of this is not a fan since day

Good explanation of countries search for oil reserves.

This provides one with a very good background on the oil industry. I was employed by a major oil company for 12 years, and this accounting of the industry is very complete and insightful.

A masterly account of what has become the world's most notorious commodity. If you want to understand what is happening in the Middle East, start here.

Great book. Recommended reading for all who want to understand the oil (and energy) industry. Yergin adroitly ties world history to the rise (and fall) of oil industry

I'm into the second section of the book, and find it to be interesting enough and well written enough not to be tedious, despite it's length. Bought copies for my dad and my son, both history/economics buffs.

A good price and fast delivery, properly wrapped. Thanks!

Outstandingly complete history of oil since its discovery to the present day. Yergin has covered all aspects in great detailleaving no questions or aspecs uncovered. A monumental work!

Excellent account over a long period of time and for most of the book very credible. This is not big news. Does have some bias regarding a particular political party and former President who was similar in his actions to our current leader or lack of and unable to grasp key international decision points. But then, that President admitted he didn't want to be president. A lot was explained regarding developments in Iran during the '50s and does ring true. Once again, exposing the strong bias in the general big media regarding how the former Shah of Iran came to power. The book, recounts, during this same period the extremist groups (strong religious involvement) already in existence (foreshadowing events in 1979) yet seemingly buried/ignored by the State Dept. Remember, that's the 50's and the Media refused to admit then or cover evidence of USSR infiltration/strong sympathizers throughout the State Dept. Add Iran to the list of mishandled crisis during the period 1945-1954 (Think China, Yugoslavia) based on faulty/planted misinformation within the State Dept.

Don't be afraid of the 900 plus pages, this book reads like a good spy novel. Both the breadth and depth with which Mr. Yergin covers the growth of the oil industry is spell-binding and highly relevant to the geo-politics of today. Anyone, who wants to begin to understand how the global markets work needs to start with this book.

Best all around history of the international oil industry I'm privy to. It's a great place to begin, before embarking on a study of more specific topics. The author is a good writer who has a strong sense of when he's said enough about a particular individual or event and when it's time to move on. As lengthy as the book is, the narrative is tightly woven, making it difficult to lay the book down.

A must read for anybody entering the oil and gas industry. People told me that it was boring, but I found it totally fascinating. I love reading and love history, so there's that, but it's great!

this product is excellent, and the quality meets the expected recommendation!

Very informative

This book is essential to understanding modern geopolitics. Reads like a novel or historical fiction due to the amazing personal stories that tell the tale. 10 out of 10. Most deserving of its pulitzer.

Fantastic book, highly recommended reading.

Awesome. Super Interesting. It won a Pulitzer... Obviously it is good. But seriously, this book was expertly written and researched. The level of detail Yergin provides while remaining interesting throughout is astounding. I recommend this to all of my friends, and they thank me for it.

A must read for anyone interested in economics or geopolitics or who simply enjoys modern history. Best book I've read in years.

Excellent overview of the history of oil and the potential future implications. The book details energy travails of the past 150 years and perhaps we can peek into the future and apply some common sense solutions from the history lessons of this precious hydrocarbon.

the best new history book I ever came across... so much to understand, once you start... and written in such way as novel, so it keeps your interest.. MY FAVORITE BOOK

If you really want to understand the oil industry, this is a must read.

Everything you ever wanted to know about the oil industry. Wonderful book.

Daniel Yergin's well-researched and sourced book provides the oil-based context for much of what happened, happens, and will happen in politics and war. A must read for those who want to understand the world in which they live.

Daniel Yergin got a Pulitzer Prize for another book but he should have gotten another for this gem. It is well written on very complex subjects and is so well written even I now understand the issues of climate change. Perhaps the Koch people and other oil people should read it.

A must read for anyone interested in the history of "big bad oil" and the pursuit of Capitalism in the early industrial development of the US.

Great book on the history of the oil industry. Daniel Yergin is an expert in the field, so he has his facts right, but the stories are amusing. Hard to put down, especially for anyone in Oil & Gas or interested in the topic. From the oil boom and bust in the US to Rockefeller, from the seven sisters to the emergence of OPEC, from how Shell came to be to the first use of oil for lighting; it is all there.

Also happens to be a historical account of the last 150 years, since oil played a major role in those years.

I am enjoying this read right now. The book came just as promised and in great condition. Thank you so much.

This is a great place to start if you want to know more about the oil industry, its history, and its own economic cycle. I highly recommend this book.

Definitely not the book I was expecting. Front cover is different from that pictured.

Timely delivery in good physical condition (no damage) is key.

My husband has been reading this for 2 months (it is over 700 pages). His comment is "amazing and thorough"

This was a well researched and well written book of the history of oils rise to dominance as today's energy linchpin.a thoroughly informative And enjoyable read!