New map
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Description
Book Introduction
- A word from MD
-
A new work by Daniel Yergin, the world's leading energy expert.Daniel Yergin, author of the Pulitzer Prize-winning novel The Fountain of Gold, returns after a 10-year absence.
Having captured the attention of readers around the world for his in-depth analysis of modern history and the flow of capitalism through the lens of "oil," he now tells the story of how energy, climate, and geopolitics are reshaping wealth, power, and opportunity.
May 21, 2021. Economics and Management PD Kang Hyun-jung
Energy, climate, and geopolitics are reshaping wealth, power, and opportunity!
Who will take the lead in this new era?
How and when should we ride this huge wave?
Daniel Yergin, author of the global bestseller "The Prize," returns with his new book, "New Map," after a 10-year hiatus.
Having received enthusiastic praise from readers around the world for his in-depth analysis of modern history and the flow of capitalism through the spectrum of "oil," he now explores how wealth, power, and opportunity are being reorganized, and who will emerge as the leaders of the new era, through the more in-depth keywords of "energy," "climate," and "geopolitics."
"New Map" is not simply a book on economics or management or a book on future predictions.
As always, Yegin skillfully navigates politics, economics, geography, and history, guiding readers through a new map of hegemony unfolding in a rapidly changing world.
Do you want to navigate the complex world and be one step ahead of the inflection points that will determine wealth, power, and opportunity? If so, this book will provide you with the most precise hints on this shifting paradigm.
Who will take the lead in this new era?
How and when should we ride this huge wave?
Daniel Yergin, author of the global bestseller "The Prize," returns with his new book, "New Map," after a 10-year hiatus.
Having received enthusiastic praise from readers around the world for his in-depth analysis of modern history and the flow of capitalism through the spectrum of "oil," he now explores how wealth, power, and opportunity are being reorganized, and who will emerge as the leaders of the new era, through the more in-depth keywords of "energy," "climate," and "geopolitics."
"New Map" is not simply a book on economics or management or a book on future predictions.
As always, Yegin skillfully navigates politics, economics, geography, and history, guiding readers through a new map of hegemony unfolding in a rapidly changing world.
Do you want to navigate the complex world and be one step ahead of the inflection points that will determine wealth, power, and opportunity? If so, this book will provide you with the most precise hints on this shifting paradigm.
- You can preview some of the book's contents.
Preview
index
Introduction
To Korean readers
Chapter 1.
New map of the United States
01 People looking for natural gas
02 Bakken, Eagle Ford, and Permian Basins
03 The Resurgence of American Manufacturing
04 US LNG ignites global competition
05 Open and Closed: Mexico and Brazil
06 War over the pipeline
07 Resumption of US oil exports
08 The Shale Revolution Usheres in the Era of the Big 3
Chapter 2.
Map of Russia
09 Putin's Grand Plan
10 Confrontation between Russia and Ukraine
11 Energy Security Conflicts Between Europe and Russia
12 Ukraine and New Sanctions
13 The Oil Price Crash and Russia's Shock
14 Natural gas or LNG, east or west
15 Russia's New Eastward Policy
16 From Marx and Lenin to Oil and Natural Gas
Chapter 3.
Map of China
17 G2 and the 'Thucydides Trap'
18 The world's most important shipping routes
19 Three Issues Surrounding the South China Sea
20 'Core Interests' and 'National Interests'
21 The Secret Behind China's Maritime Strategy
22 China's Energy Security and the Sea
23 China's New Treasure Fleet in the 21st Century
24 Careful Confrontation
25 Strategy, not a plan, one-on-one
Chapter 4.
Map of the Middle East
26 Lines drawn on the sand
27 The Iranian Revolution that shook the geopolitical order of the Middle East
28 Saddam Hussein, who dreamed of becoming the 'King of Oil'
29 Oil exports traded for nuclear weapons
30 Battle of Iraq
31 The Arab Spring that has become winter
32 The Eastern Mediterranean is alive
33 Muslim Brotherhood, Al Qaeda, ISIS
34 The volatile oil market
35 Saudi Arabia's New Move
36 COVID-19 Shakes the Global Oil Economy
Chapter 5.
Other maps
37 Internal combustion engine vehicles vs. electric vehicles
38 The Race for the Autonomous Vehicle Era
39 Call the Future
40 Waiting for new automotive technologies
Chapter 6.
Climate map
41 Energy Transition and Climate Change Issues
42 For a world after the Paris Agreement
43 From Alternative Energy to Mainstream Energy
44 Groundbreaking Technologies
45 What is 'energy transition' in developing countries?
46 The era of diverse energy resources
Conclusion: An uncertain future
Acknowledgements
annotation
To Korean readers
Chapter 1.
New map of the United States
01 People looking for natural gas
02 Bakken, Eagle Ford, and Permian Basins
03 The Resurgence of American Manufacturing
04 US LNG ignites global competition
05 Open and Closed: Mexico and Brazil
06 War over the pipeline
07 Resumption of US oil exports
08 The Shale Revolution Usheres in the Era of the Big 3
Chapter 2.
Map of Russia
09 Putin's Grand Plan
10 Confrontation between Russia and Ukraine
11 Energy Security Conflicts Between Europe and Russia
12 Ukraine and New Sanctions
13 The Oil Price Crash and Russia's Shock
14 Natural gas or LNG, east or west
15 Russia's New Eastward Policy
16 From Marx and Lenin to Oil and Natural Gas
Chapter 3.
Map of China
17 G2 and the 'Thucydides Trap'
18 The world's most important shipping routes
19 Three Issues Surrounding the South China Sea
20 'Core Interests' and 'National Interests'
21 The Secret Behind China's Maritime Strategy
22 China's Energy Security and the Sea
23 China's New Treasure Fleet in the 21st Century
24 Careful Confrontation
25 Strategy, not a plan, one-on-one
Chapter 4.
Map of the Middle East
26 Lines drawn on the sand
27 The Iranian Revolution that shook the geopolitical order of the Middle East
28 Saddam Hussein, who dreamed of becoming the 'King of Oil'
29 Oil exports traded for nuclear weapons
30 Battle of Iraq
31 The Arab Spring that has become winter
32 The Eastern Mediterranean is alive
33 Muslim Brotherhood, Al Qaeda, ISIS
34 The volatile oil market
35 Saudi Arabia's New Move
36 COVID-19 Shakes the Global Oil Economy
Chapter 5.
Other maps
37 Internal combustion engine vehicles vs. electric vehicles
38 The Race for the Autonomous Vehicle Era
39 Call the Future
40 Waiting for new automotive technologies
Chapter 6.
Climate map
41 Energy Transition and Climate Change Issues
42 For a world after the Paris Agreement
43 From Alternative Energy to Mainstream Energy
44 Groundbreaking Technologies
45 What is 'energy transition' in developing countries?
46 The era of diverse energy resources
Conclusion: An uncertain future
Acknowledgements
annotation
Detailed image
Into the book
This book is about a new map that is being dramatically transformed by energy and geopolitical issues, and it explains what this map reveals.
Geopolitics is the study of the balance of power and conflicts between nations.
The energy issues discussed here also reflect broader shifts in global supplies and flows, shifts driven primarily by America's shifting position in energy, the growing status of renewable energy resources, and the emerging politics of climate change.
Because this world is constantly and dynamically changing, there is no such thing as a simple map of it.
Moreover, the coronavirus pandemic, which shook China and the world in 2020, causing immense grief, suffering, and chaos, has made mapping even more complex.
--- From the "Introductory Note"
Yet the United States continues to care about the Persian Gulf not just because specific oil from Saudi Arabia, Kuwait, or the UAE flows into specific American refineries, but also because the Gulf's oil reserves shape the entire global economy and the region is crucial to some of America's most important trading partners and allies.
Any disruption to oil supplies from the Persian Gulf would have implications for the global economy.
For the United States, deeply intertwined with the global economy, this means that nearly 30 percent of GDP and all 40 million jobs related to foreign trade are affected.
--- From "The Shale Revolution: Opening the Era of the Big 3"
Until the 2008 financial crisis swept the globe, the world largely accepted America's approach to managing the global economic order without complaint.
But the catastrophe of the 2008 financial crisis struck none other than the heart of the American economy, or, as the Chinese put it, “the center of the capitalist world.”
The "Chinese model," in which a state or a political party like the Communist Party takes charge of economic affairs, offered an alternative to the American approach.
Moreover, China was the key driving force behind the global economy's recovery from the 2009 crisis, and now feels no need to look to the United States as a role model.
From China's perspective, the financial crisis was a "historic watershed moment in U.S.-China relations," marking the beginning of a period in which "the U.S. began to view China as an equal."
- From G2 and 'Thucydides' Trap'
The South China Sea, also known as 'the world's most important shipping lane', stretches from the Indian Ocean to Asia and the Pacific Ocean, and is surrounded by Indonesia, Malaysia, Brunei, the Philippines, Vietnam, China, and Taiwan, with Singapore also being almost nearby.
Trade worth $3.5 trillion flows through the South China Sea, accounting for two-thirds of China's maritime trade, 40 percent of Japan's maritime trade, and 30 percent of global maritime trade.
The amount of oil passing through this route each day is 15 million barrels, which is comparable to that of the Strait of Hormuz. One-third of the world's LNG also passes through this route, and 80 percent of China's oil imports depend on this route.
--- Among the "most important routes in the world"
In January 2016, Crown Prince Mohammed bin Salman made a surprising statement.
In an interview with The Economist, when asked, “Have you ever imagined selling shares of Saudi Aramco to the public?” he replied:
“The matter is currently under review.
“Personally, I am very interested in it.”
Oil and financial markets around the world were turned upside down.
Before the crown prince made those remarks, it was no exaggeration to say that the possibility of Saudi Aramco going public was nil.
Saudi Aramco itself was the very foundation of Saudi Arabia, so the Crown Prince's words shocked Saudi Arabians as well.
The potential value of the company, which the Crown Prince envisions at $2 trillion, and the potential for privatization, are unparalleled by any IPO in history and could instantly transform the dynamics of the global oil industry.
--- From "Saudi Arabia's New Steps"
After years of discussion, the European Union announced new carbon dioxide emission standards that would apply to all cars sold in Europe on average in 2015.
The new standards, which are much stricter than before, were scheduled to come into effect between 2020 and 2021.
“To pass this standard, we have no choice but to develop zero-emission cars,” said an executive at a European automaker that is steadily increasing its new car sales.
Automakers that failed to meet new European standards faced fines of nearly $40 billion.
They had five years to create a completely new car, which meant they had to rush the transition to electric vehicles now.
As new regulations come into effect, European automakers are racing to announce plans to develop electric vehicles, with Volkswagen leading the way.
--- From "Internal combustion engine vehicles vs. electric vehicles"
In China's megacities, residents can only own one car through a lottery—in Beijing, for example, the odds of winning are just 907 to 1. Winners also face a hefty $13,000 fee on top of the car's price.
However, there is a very special case here: electric car buyers do not need to go through a lottery and can register the car as soon as they purchase it and become its official owner without any additional fees.
In 2019, nearly 1 million electric vehicles were sold in China.
This represents 4 percent of all new vehicle sales and more than half of all electric vehicles sold worldwide.
--- From "Internal combustion engine vehicles vs. electric vehicles"
How quickly will the energy transition progress, and what will it look like in other aspects? Predictions vary widely.
Global electricity consumption is expected to increase by 60 percent by 2040, according to projections from business intelligence firm IHS Markit.
Solar and wind power could account for between 24 and 36 percent of total electricity generation by then.
Compared to the current 7 percent, both would represent significant growth, but the range of projected results is due to uncertainty and speculation about technology, innovation, and the political and economic landscape.
In the United States, wind and solar power grew significantly from 2 percent in 2010 to 9 percent in 2019, and are expected to continue growing at an even faster rate.
However, it is highly unlikely that 100 percent of U.S. electricity generation will come from renewable energy sources by 2040.
Geopolitics is the study of the balance of power and conflicts between nations.
The energy issues discussed here also reflect broader shifts in global supplies and flows, shifts driven primarily by America's shifting position in energy, the growing status of renewable energy resources, and the emerging politics of climate change.
Because this world is constantly and dynamically changing, there is no such thing as a simple map of it.
Moreover, the coronavirus pandemic, which shook China and the world in 2020, causing immense grief, suffering, and chaos, has made mapping even more complex.
--- From the "Introductory Note"
Yet the United States continues to care about the Persian Gulf not just because specific oil from Saudi Arabia, Kuwait, or the UAE flows into specific American refineries, but also because the Gulf's oil reserves shape the entire global economy and the region is crucial to some of America's most important trading partners and allies.
Any disruption to oil supplies from the Persian Gulf would have implications for the global economy.
For the United States, deeply intertwined with the global economy, this means that nearly 30 percent of GDP and all 40 million jobs related to foreign trade are affected.
--- From "The Shale Revolution: Opening the Era of the Big 3"
Until the 2008 financial crisis swept the globe, the world largely accepted America's approach to managing the global economic order without complaint.
But the catastrophe of the 2008 financial crisis struck none other than the heart of the American economy, or, as the Chinese put it, “the center of the capitalist world.”
The "Chinese model," in which a state or a political party like the Communist Party takes charge of economic affairs, offered an alternative to the American approach.
Moreover, China was the key driving force behind the global economy's recovery from the 2009 crisis, and now feels no need to look to the United States as a role model.
From China's perspective, the financial crisis was a "historic watershed moment in U.S.-China relations," marking the beginning of a period in which "the U.S. began to view China as an equal."
- From G2 and 'Thucydides' Trap'
The South China Sea, also known as 'the world's most important shipping lane', stretches from the Indian Ocean to Asia and the Pacific Ocean, and is surrounded by Indonesia, Malaysia, Brunei, the Philippines, Vietnam, China, and Taiwan, with Singapore also being almost nearby.
Trade worth $3.5 trillion flows through the South China Sea, accounting for two-thirds of China's maritime trade, 40 percent of Japan's maritime trade, and 30 percent of global maritime trade.
The amount of oil passing through this route each day is 15 million barrels, which is comparable to that of the Strait of Hormuz. One-third of the world's LNG also passes through this route, and 80 percent of China's oil imports depend on this route.
--- Among the "most important routes in the world"
In January 2016, Crown Prince Mohammed bin Salman made a surprising statement.
In an interview with The Economist, when asked, “Have you ever imagined selling shares of Saudi Aramco to the public?” he replied:
“The matter is currently under review.
“Personally, I am very interested in it.”
Oil and financial markets around the world were turned upside down.
Before the crown prince made those remarks, it was no exaggeration to say that the possibility of Saudi Aramco going public was nil.
Saudi Aramco itself was the very foundation of Saudi Arabia, so the Crown Prince's words shocked Saudi Arabians as well.
The potential value of the company, which the Crown Prince envisions at $2 trillion, and the potential for privatization, are unparalleled by any IPO in history and could instantly transform the dynamics of the global oil industry.
--- From "Saudi Arabia's New Steps"
After years of discussion, the European Union announced new carbon dioxide emission standards that would apply to all cars sold in Europe on average in 2015.
The new standards, which are much stricter than before, were scheduled to come into effect between 2020 and 2021.
“To pass this standard, we have no choice but to develop zero-emission cars,” said an executive at a European automaker that is steadily increasing its new car sales.
Automakers that failed to meet new European standards faced fines of nearly $40 billion.
They had five years to create a completely new car, which meant they had to rush the transition to electric vehicles now.
As new regulations come into effect, European automakers are racing to announce plans to develop electric vehicles, with Volkswagen leading the way.
--- From "Internal combustion engine vehicles vs. electric vehicles"
In China's megacities, residents can only own one car through a lottery—in Beijing, for example, the odds of winning are just 907 to 1. Winners also face a hefty $13,000 fee on top of the car's price.
However, there is a very special case here: electric car buyers do not need to go through a lottery and can register the car as soon as they purchase it and become its official owner without any additional fees.
In 2019, nearly 1 million electric vehicles were sold in China.
This represents 4 percent of all new vehicle sales and more than half of all electric vehicles sold worldwide.
--- From "Internal combustion engine vehicles vs. electric vehicles"
How quickly will the energy transition progress, and what will it look like in other aspects? Predictions vary widely.
Global electricity consumption is expected to increase by 60 percent by 2040, according to projections from business intelligence firm IHS Markit.
Solar and wind power could account for between 24 and 36 percent of total electricity generation by then.
Compared to the current 7 percent, both would represent significant growth, but the range of projected results is due to uncertainty and speculation about technology, innovation, and the political and economic landscape.
In the United States, wind and solar power grew significantly from 2 percent in 2010 to 9 percent in 2019, and are expected to continue growing at an even faster rate.
However, it is highly unlikely that 100 percent of U.S. electricity generation will come from renewable energy sources by 2040.
--- From "From Alternative Energy to Mainstream Energy"
Publisher's Review
★ New work from the Pulitzer Prize-winning, international bestseller author of "The Golden Fountain" ★
★ Highly recommended by The Wall Street Journal, The Economist, and The Times ★
“The Biden administration must read this book!”
- James Stavridis, former NATO Commander-in-Chief
Today, energy has become the most influential factor influencing the global economy and is at the center of virtually every geopolitical conflict in the international community.
The renewable energy market, including secondary batteries, wind power, and solar power, has become a hot sector attracting investors in earnest since the COVID-19 pandemic, and a fierce competition is unfolding among countries and global companies for leadership in this new arena.
Climate threats, which are becoming increasingly real day by day, are also beginning to act as a 'game changer' that will completely change the existing landscape.
In this context, Yegin sharply analyzes how major countries are clashing or cooperating geopolitically over energy, saying, “Going forward, jobs, the flow of money, and the relationships between countries will completely change depending on ‘what’ we use to move.”
The strategic moves of each nation—the United States, dreaming of a second shale revolution; China, staking its life on securing energy and shipping routes; Russia, seeking to expand eastward; and the Middle East, seeking new cash cows—interlock and shape the international situation and the global economy in a fascinating way.
It also offers compelling predictions about how the looming climate threat and the resulting transition to renewable energy will unfold, and who will emerge victorious on this stage.
“The whole world has been eagerly awaiting this book!”
Daniel Yergin, the world's leading energy expert,
Returning to a new hegemonic map after 10 years
Last fall, when Daniel Yergin's new book, "New Map," was published in the United States, readers lined up in reviews saying, "We've been waiting 10 years for this."
With leading American media and opinion leaders praising the book, "New Map" immediately became an Amazon bestseller upon its publication.
The reason this book has received such a fervent response is because no one has been able to so accurately predict the enormous international political and economic trends brought about by energy.
Having advised on energy policy for four U.S. administrations from Clinton to Trump, he remains one of the world's leading energy experts, sought out by governments and global corporations whenever a pressing issue arises.
In his first book, "The Fountain of Gold," which was a global bestseller and Pulitzer Prize winner, he predicted the rise of wealth and hegemony centered on oil, and in his follow-up book, "The Energy War of 2030," he showed remarkable foresight by predicting the emergence of renewable energy.
The recently published "New Map" highlights the emergence of new players in the existing system, which has been centered around oil for 40 years, and the formation of a completely new order.
The increasingly serious climate crisis, the tectonic shifts in the energy market, and the surrounding geopolitical issues are the "game changers" that will determine future hegemony, including wealth and opportunity.
“If you pay attention to energy, you can see the direction in which the world moves!”
The United States dreams of a second shale revolution, while China is risking its life to secure shipping routes.
Russia's expansion eastward, the Middle East's search for a new cash cow…
Geopolitical conflicts caused by energy
How is it changing the international situation and global economic trends?
Energy has gone beyond being a simple industrial fuel to become a crucial factor influencing inter-national dynamics and the global economy.
The event that best illustrates this is the shale revolution that originated in the United States.
As recently as the early 2000s, it was clear that the United States would have to rely on imports for natural gas, not just oil.
But in 2008, something unexpected happened.
Natural gas production in the United States has increased beyond expectations, and massive amounts of oil have been discovered in shale rock formations.
Even in one state of Texas, the amount of oil extracted exceeded the production of every OPEC member except Saudi Arabia.
As a result, the shale revolution has instantly eliminated the weakness that had held the United States back as an energy importer.
With domestic oil production, the United States no longer had to worry about the needs of oil-producing countries, and it was able to pursue its foreign policy with greater confidence, achieving the status of a true superpower.
Moreover, as oil extraction significantly lowered industrial costs and unemployment, the U.S. economy entered an unprecedented period of long-term prosperity.
It also resulted in a reversal of the global energy market landscape that had been stagnant for decades.
Meanwhile, energy is also essential for China, which wants to surpass the United States and become the center of the world.
China's constant clashes with the United States, to the point where the term "new Cold War" has been coined, and its ongoing geopolitical tensions in the South China Sea and other parts of the world, driven by the "Belt and Road Initiative," all stem from energy.
Russian President Putin's gradual pursuit of an eastward expansion policy, or Saudi Arabia's listing of Aramco, a state-owned enterprise valued at $2 trillion, on the stock market and investment in Coupang through Masayoshi Son's Vision Fund, all fall into the same vein.
In this way, Yegin travels across the world map, revealing in a fascinating way the intricate connections between energy, geopolitics, and the global economy that we had previously overlooked.
Readers will gain a broader perspective as they learn how the ambitions and power struggles surrounding energy unfold among nations and the hidden mechanisms that drive this vast world.
“Energy, climate, and geopolitics
“It completely changed the equation of world politics and economics!”
What do the new powerhouses, the 'Big 3', dream of?
When will the end of oil come?
Who will be the protagonists of the renewable energy era?
What is the most important technology that will influence the future energy market?
How will the climate crisis change the global economy?
In February 2021, a record-breaking cold snap and heavy snowfall hit Austin, Texas, USA.
An unusual cold snap that struck a southern city, not the Midwest, caused power outages across the city.
The problem was that Austin was home to factories for several semiconductor companies, including Samsung Electronics, Infineon, and NXP.
Due to the power outage and water shortage, all factories were shut down, and among them, Samsung Electronics, which uses the most electricity, suffered a loss of approximately 400 billion won.
Above all, the continued shutdown has put the global supply of automotive semiconductors at risk.
As analysis emerged that this situation would lead to a decline in global automobile production, the stock prices of automakers fell.
As climate change is added to energy and geopolitics, the equations surrounding the global economy become more complex.
The massive influx of funds into the market thanks to the coronavirus pandemic and quantitative easing has made renewable energy sources like secondary batteries, wind power, solar power, and hydrogen the most sought-after investment sectors.
Competition in this market is currently very fierce.
Yegin broadly analyzes the countries that have thrown down the gauntlet in this fight, including the United States, Europe, China, and India, and provides hints as to who will emerge victorious on this new stage.
Meanwhile, the world, which just a decade ago was worried about the complete depletion of oil, is now grappling with declining demand.
When will oil consumption peak and begin to decline? "There are a plethora of factors that influence oil demand," says Yergin, offering a compelling prediction based on oil consumption patterns over the past several decades.
It's also interesting to see a detailed analysis of whether the increasingly serious climate change and the unexpected coronavirus will accelerate or even delay this massive transition.
Anyone interested in the electric vehicle market in a narrow sense and the Green New Deal market in a broader sense should definitely pay attention to this.
Yegin emphasizes that “what we use to move forward will completely change jobs, the flow of money, and the relationships between countries.”
This is a message that Korea, aiming to become a leader in the global electric vehicle battery market, must wisely strike a balance amid the conflict between the United States and China.
The great change has already begun, and we are all on the path to it.
If you need a macroscopic perspective to interpret the rapidly changing world and new order, I recommend opening "New Map" now.
“Daniel Yergin has once again demonstrated his prowess in his latest work, explaining the restructuring of the world order by energy resources.
This book, accessible yet detailed, is by far the best on geopolitical strategy.
- [Wall Street Journal]
“A masterpiece that shows how the world works!”
- [NPR]
“A bold yet credible, yet sophisticated blend of content.”
- [The Economist]
A fascinating book that covers the history of all geopolitical developments, from energy issues and international competition to evolving technologies and the looming threat of climate change.
Excellent research results are well reflected
Above all, it is very easy to read.”
- [Foreign Policy]
This book presents a vast amount of data and statistics that can help us see through the confusing reality.
By the end of the last chapter, every reader will be an energy expert.”
- [USA Today]
★ Highly recommended by The Wall Street Journal, The Economist, and The Times ★
“The Biden administration must read this book!”
- James Stavridis, former NATO Commander-in-Chief
Today, energy has become the most influential factor influencing the global economy and is at the center of virtually every geopolitical conflict in the international community.
The renewable energy market, including secondary batteries, wind power, and solar power, has become a hot sector attracting investors in earnest since the COVID-19 pandemic, and a fierce competition is unfolding among countries and global companies for leadership in this new arena.
Climate threats, which are becoming increasingly real day by day, are also beginning to act as a 'game changer' that will completely change the existing landscape.
In this context, Yegin sharply analyzes how major countries are clashing or cooperating geopolitically over energy, saying, “Going forward, jobs, the flow of money, and the relationships between countries will completely change depending on ‘what’ we use to move.”
The strategic moves of each nation—the United States, dreaming of a second shale revolution; China, staking its life on securing energy and shipping routes; Russia, seeking to expand eastward; and the Middle East, seeking new cash cows—interlock and shape the international situation and the global economy in a fascinating way.
It also offers compelling predictions about how the looming climate threat and the resulting transition to renewable energy will unfold, and who will emerge victorious on this stage.
“The whole world has been eagerly awaiting this book!”
Daniel Yergin, the world's leading energy expert,
Returning to a new hegemonic map after 10 years
Last fall, when Daniel Yergin's new book, "New Map," was published in the United States, readers lined up in reviews saying, "We've been waiting 10 years for this."
With leading American media and opinion leaders praising the book, "New Map" immediately became an Amazon bestseller upon its publication.
The reason this book has received such a fervent response is because no one has been able to so accurately predict the enormous international political and economic trends brought about by energy.
Having advised on energy policy for four U.S. administrations from Clinton to Trump, he remains one of the world's leading energy experts, sought out by governments and global corporations whenever a pressing issue arises.
In his first book, "The Fountain of Gold," which was a global bestseller and Pulitzer Prize winner, he predicted the rise of wealth and hegemony centered on oil, and in his follow-up book, "The Energy War of 2030," he showed remarkable foresight by predicting the emergence of renewable energy.
The recently published "New Map" highlights the emergence of new players in the existing system, which has been centered around oil for 40 years, and the formation of a completely new order.
The increasingly serious climate crisis, the tectonic shifts in the energy market, and the surrounding geopolitical issues are the "game changers" that will determine future hegemony, including wealth and opportunity.
“If you pay attention to energy, you can see the direction in which the world moves!”
The United States dreams of a second shale revolution, while China is risking its life to secure shipping routes.
Russia's expansion eastward, the Middle East's search for a new cash cow…
Geopolitical conflicts caused by energy
How is it changing the international situation and global economic trends?
Energy has gone beyond being a simple industrial fuel to become a crucial factor influencing inter-national dynamics and the global economy.
The event that best illustrates this is the shale revolution that originated in the United States.
As recently as the early 2000s, it was clear that the United States would have to rely on imports for natural gas, not just oil.
But in 2008, something unexpected happened.
Natural gas production in the United States has increased beyond expectations, and massive amounts of oil have been discovered in shale rock formations.
Even in one state of Texas, the amount of oil extracted exceeded the production of every OPEC member except Saudi Arabia.
As a result, the shale revolution has instantly eliminated the weakness that had held the United States back as an energy importer.
With domestic oil production, the United States no longer had to worry about the needs of oil-producing countries, and it was able to pursue its foreign policy with greater confidence, achieving the status of a true superpower.
Moreover, as oil extraction significantly lowered industrial costs and unemployment, the U.S. economy entered an unprecedented period of long-term prosperity.
It also resulted in a reversal of the global energy market landscape that had been stagnant for decades.
Meanwhile, energy is also essential for China, which wants to surpass the United States and become the center of the world.
China's constant clashes with the United States, to the point where the term "new Cold War" has been coined, and its ongoing geopolitical tensions in the South China Sea and other parts of the world, driven by the "Belt and Road Initiative," all stem from energy.
Russian President Putin's gradual pursuit of an eastward expansion policy, or Saudi Arabia's listing of Aramco, a state-owned enterprise valued at $2 trillion, on the stock market and investment in Coupang through Masayoshi Son's Vision Fund, all fall into the same vein.
In this way, Yegin travels across the world map, revealing in a fascinating way the intricate connections between energy, geopolitics, and the global economy that we had previously overlooked.
Readers will gain a broader perspective as they learn how the ambitions and power struggles surrounding energy unfold among nations and the hidden mechanisms that drive this vast world.
“Energy, climate, and geopolitics
“It completely changed the equation of world politics and economics!”
What do the new powerhouses, the 'Big 3', dream of?
When will the end of oil come?
Who will be the protagonists of the renewable energy era?
What is the most important technology that will influence the future energy market?
How will the climate crisis change the global economy?
In February 2021, a record-breaking cold snap and heavy snowfall hit Austin, Texas, USA.
An unusual cold snap that struck a southern city, not the Midwest, caused power outages across the city.
The problem was that Austin was home to factories for several semiconductor companies, including Samsung Electronics, Infineon, and NXP.
Due to the power outage and water shortage, all factories were shut down, and among them, Samsung Electronics, which uses the most electricity, suffered a loss of approximately 400 billion won.
Above all, the continued shutdown has put the global supply of automotive semiconductors at risk.
As analysis emerged that this situation would lead to a decline in global automobile production, the stock prices of automakers fell.
As climate change is added to energy and geopolitics, the equations surrounding the global economy become more complex.
The massive influx of funds into the market thanks to the coronavirus pandemic and quantitative easing has made renewable energy sources like secondary batteries, wind power, solar power, and hydrogen the most sought-after investment sectors.
Competition in this market is currently very fierce.
Yegin broadly analyzes the countries that have thrown down the gauntlet in this fight, including the United States, Europe, China, and India, and provides hints as to who will emerge victorious on this new stage.
Meanwhile, the world, which just a decade ago was worried about the complete depletion of oil, is now grappling with declining demand.
When will oil consumption peak and begin to decline? "There are a plethora of factors that influence oil demand," says Yergin, offering a compelling prediction based on oil consumption patterns over the past several decades.
It's also interesting to see a detailed analysis of whether the increasingly serious climate change and the unexpected coronavirus will accelerate or even delay this massive transition.
Anyone interested in the electric vehicle market in a narrow sense and the Green New Deal market in a broader sense should definitely pay attention to this.
Yegin emphasizes that “what we use to move forward will completely change jobs, the flow of money, and the relationships between countries.”
This is a message that Korea, aiming to become a leader in the global electric vehicle battery market, must wisely strike a balance amid the conflict between the United States and China.
The great change has already begun, and we are all on the path to it.
If you need a macroscopic perspective to interpret the rapidly changing world and new order, I recommend opening "New Map" now.
“Daniel Yergin has once again demonstrated his prowess in his latest work, explaining the restructuring of the world order by energy resources.
This book, accessible yet detailed, is by far the best on geopolitical strategy.
- [Wall Street Journal]
“A masterpiece that shows how the world works!”
- [NPR]
“A bold yet credible, yet sophisticated blend of content.”
- [The Economist]
A fascinating book that covers the history of all geopolitical developments, from energy issues and international competition to evolving technologies and the looming threat of climate change.
Excellent research results are well reflected
Above all, it is very easy to read.”
- [Foreign Policy]
This book presents a vast amount of data and statistics that can help us see through the confusing reality.
By the end of the last chapter, every reader will be an energy expert.”
- [USA Today]
GOODS SPECIFICS
- Publication date: May 17, 2021
- Format: Hardcover book binding method guide
- Page count, weight, size: 632 pages | 1,028g | 160*232*36mm
- ISBN13: 9788901249605
- ISBN10: 890124960X
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