The last decade has seen a far-reaching revolution in the oil industry, both in the US and globally. By some measures, America is on pace to become the world's biggest oil producer, an outcome that was inconceivable just a few years ago. But what does this shift really mean for American and global security? In Myths of the Oil Boom, Steve A. Yetiv, an award-winning expert on the geopolitics of oil, takes stock of our new era of heightened petroleum production and sets out to demolish both the old myths and misconceptions about oil and the new ones that are quickly proliferating. As he explains, increased production in the US will not lead to a major reduction in longer term oil prices, even if it has contributed to their precipitous fall in the short run. America will not intervene less in the Persian Gulf just because it is producing more oil domestically. Saudi Arabia is less willing or able to play global gas pump to the world economy than in the past. Building an electric car industry does not mean that consumers will buy in, but neither is it true that a broad shift toward eco-friendly cars will have very little impact on greenhouse gas emissions.
Most importantly, raising the level of domestic production will never solve America's energy and strategic problems, and it may in fact worsen climate change unless it is accompanied by a serious national and global strategy to decrease oil consumption. While Yetiv takes on these and a number of other misconceptions in this panoramic account, this is not just an exercise in myth-busting; it's also a comprehensive overview of the global geopolitics of oil and America's energy future, cross-cutting some of the biggest economic and security issues in world affairs. Accessibly written and sharply argued, Myths of the Oil Boom will reframe our understanding of the most politicized commodity in the world.
Publisher: Oxford University Press
Number of pages: 272
Weight: 488 g
Dimensions: 242 x 161 x 23 mm
Oil remains vital to global security. In this very readable book, Steve Yetiv dispels myths and provides a fascinating account both for analysts and for the general public. * Joseph S. Nye, Jr, Harvard University Distinguished Service Professor, and author of Is the American Century Over? *
Steve Yetiv sets the record straight, exploding a number of misconceptions surrounding the politics and economics oil. In particular, he provides a well-timed corrective to exaggerated views about the potential contributions of the recent surge in U.S. oil output to national and international energy security. Along the way, the book offers a valuable primer on oil markets, the geopolitics of oil, and the true costs of oil dependence as well as the most promising
approach for reducing oil insecurity. * John Duffield, Professor of Political Science, Georgia State University *
An eye opening account of the impact of increased American oil production on international politics by one of America's foremost oil analysts. Neither a doomsayer nor a wild eyed optimist, Yetiv shows why and how changes in the supply of oil will directly affect American interests and world stability. A timely and invaluable work for anyone who wants to understand how oil shapes our lives. * Steven David, Professor of Political Science, Johns Hopkins University *
A superb book on the changing dynamics of U.S. and global energy security and politics-wonderfully researched and written-a must-read for those interested in security studies, American foreign-policy, and international political economy. * Patrick James, Dornsife Dean's Professor of International Relations, University of Southern California; former Vice President, International Studies Association *