From its beginnings writing longhand on dozens of legal pads, to innumerable manuscripts and now the finished product, I am so pleased to share my latest book,
#TheNewMap
() out today from
@penguinpress
.
Historic day for world
#oil
with EU import ban and
#pricecap
on
#Russia
oil. Marks the end of global oil market of the last three decades and beginning of the partitioned world oil market.
“Big Shovel” will increasingly compete w/ “Big Oil” as mining ramps up to supply the vast increase in minerals for energy transition. But there remains a very big gap between Net Zero aspirations and the availability of supply. My latest in
@WSJ
. (1/2)
Some personal news: Excited to share the cover for my next book, The New Map: Energy, Climate and the Clash of Nations.
Available Sept. 15 from
@penguinpress
.
I'll be sure to share some interesting sneak peaks, etc. in the days leading up.
Pre-order:
Demand for critical minerals and copper heats up 1 yr after Inflation Reduction Act. Our new
@SPGlobal
study shows demand materially higher by 2035 than what was projected pre-IRA.
Lithium: +15%
Cobalt: +14%
Nickel: +13%
Copper: +12%
Full Report:
Important new study on U.S. clean energy innovation by
@IHSMarkit
&
@EFIForTheFuture
. Proud to co-lead this with
@ErnestMoniz
. What is state of the U.S. innovation ecosystem? How to strengthen it? Which technologies have the most potential? READ HERE:
Europe now views Russia as not just an unreliable oil/gas supplier, but an “unwanted” one at that. Assuming EU was just too dependent on Russia supply proving to be one of
#Putin
's major miscalculations of the
#Ukraine
invasion. My talk w/ CNBC
@PowerLunch
The global
#oil
market is over. The stakes are going up and the battle between Russia and EU/G7 in a new era of a partitioned world oil market is beginning. My talk w/
@KellyCNBC
and
@CNBCTheExchange
on an historic day for global energy.
Going to try something new here. Leading up to the Sept. 15 release of my new book,
#TheNewMap
(
@penguinpress
; ) I’ll be posting
#NewMapMoments
– glimpses of some of the key people and events in the book. Look for them in my feed starting this week.
Amid
#Ukraine
crisis it is becoming increasingly clear in Washington, DC what
#Putin
saw early on—The US
#shale
revolution and
#LNG
exports are an important geopolitical asset. The situation in Ukraine would look very different without them. My article in today’s
@WSJ
.
While the Ukraine crisis was raising anxiety about Europe’s dependence on Russian natural gas, something remarkable happened, writes
@DanielYergin
. America’s position as a top energy producer has provided new influence and greater flexibility.
How tight energy markets gave Putin leverage and are causing a rethink on the importance of energy security and the risks of “preemptive underinvestment” in new resources.
My Q&A w/
@andrewrsorkin
.
@NYTimes
@dealbook
What once seemed undoable—banning Russian oil and gas sales in Europe—is becoming increasingly likely. But how? Will need to be done right if is going to work. My new column w/
@CarlosEPascual
for
@washingtonpost
on just what it would take.
@PostOpinions
Putin’s
#Ukraine
invasion will turn Russia into a “Reduced Energy Power” (no longer an Energy Superpower) & undo the internationalized economy he has been building for 20+ yrs. For the West: a rediscovery of energy security. My article for
@TheEconomist
.
Some news: I am honored to have been selected as the "Energy Writer of the Year" by the American Energy Society for my book
#TheNewMap
.
@AES_Energy
#EnergyWOTY
The lesson on the importance of energy security has been learned (and relearned) again and again. The energy transition can only proceed steadily and at scale if the lesson is heeded.
Why have energy stocks under performed while the stock market boomed? How do investors really feel about the sector? My new column with
@CarlosEPascual
has the results of a new
@IHSMarkit
survey of institutional and PE investors. READ HERE:
My new oped on what Venezuela's turmoil has meant for the country's oil production. VZ has the largest proven oil reserves in the world but today the state of North Dakota alone produces more oil than they do.
Oh boy. That’s the look you get when your writing buddy—who was (literally) by your side the entire time you were writing the book—realizes that you left her out of the acknowledgements. Lucy’s going to make this a tense weekend. I can tell.
#TheNewMap
()
Big deal here. The U.S. exported more crude
#oil
and petroleum products than it imported during the month of September. Marks the end of an era that began with the oil crises way back in the 1970s. Interesting read in
@washingtonpost
’s Energy 202.
Syria oil production was always barely a footnote for global market in terms of volume--less than 1/2 a percent of world supply prior to the civil war. But it's very important now for other reasons. My new
@NPR
column w/
@rogerdiwan
. READ HERE:
Very excited -- CERAWeek 2021 begins this morning with an awesome program, opening with
#BillGates
and over 500 speakers from all across the economy and around the world. Many different perspectives and a lot to learn as recovery looms.
@CERAWeek
@BillGates
Putin’s
#Ukraine
invasion pushed already-tight energy markets from being “crisis-prone” to actually in crisis. The repercussions are everywhere—from geopolitics to pocketbooks and prices-at-the-pump. Valued unpacking it all w/
@PreetBharara
for
#StayTuned
What's the scope of the energy crisis facing the world in 2022? I spoke with Pulitzer Prize winning author
@DanielYergin
about that and more on this week’s
#StayTuned
:
A Friday peak behind the scenes: When you’re on-camera talking about your new book, you do whatever it takes to get the shot.
@ratemyskyperoom
how am I doing?
#TheNewMap
For
#oil
markets, supply/demand is calling the shots & outweighing geopolitical risks. Demand set to hit record high in 2024, but supply growth (led by US, Canada, Brazil, etc) is higher still. My talk w/
@BeckyQuick
@SquawkCNBC
. 1/2
Pleased to join
@jonfortt
and
@CNBCTheExchange
to discuss findings of our new
@SPGlobal
study on the outlook for critical minerals demand 1 yr after U.S. Inflation Reduction Act.
Enjoyed speaking w/
@Shell
CEO Ben van Beurden for
#CERAWeek
Conversations about achieving net-zero emissions in 2050; the importance of being “in step” w/ society; the
#COVID19
"knock" on demand; “financial resilience” in a crisis, & more.
WATCH:
Very pleased that
#TheNewMap
is a
@USAToday
and
@NPR
best book of the year. But can someone explain why Amazon ranks it as number one or two best seller in Indonesian Travel Guides???
IEA is known as world’s “energy watchdog.” But it’s also the “energy conscience,” working with 38 govts as they fashion their recovery plans. A brief clip from today’s
#CERAWeek
Conversations with
@IEA
exec. director
@IEABirol
saying “mild”
#energy
demand recovery has begun.
Europe no longer trusts Moscow’s energy brand -- and what happens next.
#Europe
crude
#oil
ban imminent. But prepare for cut-off by
#Russia
. My article
@ft
The shale gas revolution at 10 years: The pace of growth continues to accelerate - U.S. nat gas production could grow another 60 percent in next 20 yrs. See our new
@IHSMarkit
report on how far things have come and where they go from here at:
What lies ahead over the next decade?
Our latest report by
@DanielYergin
and Sam Andrus assesses the impacts of the first 10 years of the U.S. unconventional
#gas
revolution and looks ahead to its future potential. Discover more:
“Winter is coming” and Putin is counting on it. Russian pipeline gas shipments to EU are⬇️70%. The race to secure supplies ahead of colder months is on. Today's
@WSJ
:
@MStoppard
and I on how energy has become Putin’s 2nd front in the battle for
#Ukraine
.
In today’s
@HoustonChron
. A letter to the city of Houston. On the eve of what would have been the first day of
@CERAWeek
this year, thank you for your hospitality and support these many years. CERAWeek could not be what it is without your vibrant community. Thank you!
#SuezCanal
--one of the most important chokepoints in world trade. World economy counts on it. The stuck
#EverGiven
has put a chokehold on the chokepoint and world trade.
#TheNewMap
describes huge growth in container ship size since 1956 to the Ever Given –now too big to pass!
From Russia to Mexico, the Covid-19 oil collapse presents new risks and opportunities, says
@OSullivanMeghan
Meghan O'Sullivan points out the great risks to stability from the oil exporters who don't have sovereign wealth funds.
via
@bopinion
OPEC+ cuts (not China econ growth) bolstering
#oil
prices right now. But strength of non-OPEC production the big surprise. Can meet global crude demand growth. US alone will add near 1 million b/d of production this year. My talk w/
@SquawkCNBC
The strain on global supply chains is not only disruptive, it’s historic. A new comprehensive review across industries by
@IHSMarkit
experts—shipping, manufacturing, autos, energy, agribusiness, labor & more—explains why it will continue into 2022.
#Copper
—the “metal of electrification”—is essential to the
#energytransition
. Meeting
#NetZero
by 2050 goals would double demand by 2035. The world has never produced so much in such a short time. Our new
@SPGlobal
lays out the challenge.
Read here:
My new
#CERAWeek
Conversations chat w/
@Aramco
CEO Amin H. Nasser. Says “worst is behind us” for
#oil
markets and he is “very optimistic” for 2nd half of 2020. Also, his thoughts on the long term in the
#energy
transition (clip below). Full video:
Something lighthearted for a Friday. No photo shoot is without its outtakes. A most loyal reader did his darnedest to photobomb the rollout photo for my new book,
#TheNewMap
() out this week from
@penguinpress
.
Coronavirus, a free-for-all in the world oil market and a battle for market share (with U.S. shale production caught in the middle). My latest
@WSJ
column on
#oil
markets:
The war in
#Ukraine
is beginning of end to several eras. EU: reliance on Russian energy; Russia: energy superpower status; World: globalization to fragmentation. My talk w/
@gideonrachman
of Financial Times,
@FT
Rachman Review podcast.
#Putin
attacks Russia oil
#pricecap
by quoting free market
#MiltonFriedman
: “if you want to create a shortage of tomatoes” put on a price cap and “instantly you have a tomato shortage. It’s the same with oil and gas.” My
@wsj
column ⬇️ (1/2)
By 2023
#oil
production in just the U.S. Permian will more than double to 5.4 million barrels per day (that's more than current production of any OPEC country except Saudi Arabia). Discussing our new
@IHSMarkit
outlook on
@SquawkCNBC
.
Russia’s days as an energy ‘superpower’ are receding. My sit-down w/
@WalterIsaacson
and
@AmanpourCoPBS
for a deep dive on this, plus other ways that the invasion of
#Ukraine
is reshaping the global energy map.
In today’s
@WashingtonPost
.
#Oil
markets at an impasse. Record fall in demand due to
#COVID
-19 while Russia/Saudi Arabia price war floods the market with excess supply. How to restore balance? Perhaps through the G20. My new column with
@RogerDiwan
.
Pleased to speak w/
@ccable
&
@stephenlpower
for a wide-ranging discussion in the
@BrunswickGroup
Review on volatility in energy markets; History & future of
#energytransition
; “2nd age of globalization”; From “Big Oil” to “Big Shovels,” & more. (1/7)
Honored to be joined by the U.S. Sec. of Energy, the Hon. Jennifer M. Granholm (
@SecGranholm
) today at
#CERAWeek
. Day 3 just wrapped, capped off by an amazing Women in Energy dinner/dialogue. Likes and retweets summing it all up here. As always, follow
@CERAWeek
for it all.
Tight gas & coal markets beget higher oil prices. Price of LNG landing in EU equal to $200 per barrel. Result: higher demand for crude ($80+/barrel today) for power generation. Unpacking energy crisis collateral effects w/
@DavidWestin
@BloombergTV
.
"
#Globalization
in a needle" Afshin Molavi reports -- Pfizer vaccine 280 components made at 86 sites in 19 countries. Talk about how essential and complex global supply chains! And all need to be coordinated.
@afshinmolavi
How the new world of
#oil
and the era of the “Big 3”- U.S., Saudi Arabia & Russia – is playing out at
#OPEC
meetings this week. My chat w/
@adsteel
and
@bloombergtv
. Watch:
Great speaking with
@Chevron
chairman & CEO Mike Wirth. How
#oil
markets appear to “have found a bottom,” why
#COVID19
has accelerated digital transformation in
#energy
and more. Part of our
#CERAWeek
Conversations series. WATCH:
Current Ukraine tensions underscoring the importance of US shale production. One of the few stabilizers for tight oil markets and an alternate source of LNG to EU and elsewhere. My talk w/
@JackOtter
and the Barron’s Roundtable.
@FoxBusiness
A historic week for
#oil
markets and how storage capacity has become the world's most valuable commodity right now. Great chatting w/
@BeckyQuick
and
@SquawkCNBC
"At a time when solid facts and reasoned arguments are in retreat, Daniel Yergin rides to the rescue.”—
@USATODAY
on
#TheNewMap
by
@DanielYergin
Read the full review here:
"Optimism is embedded in the snow" at what is shaping up to be the most economically optimistic
#Davos
in a decade. Reflects a strengthening world economy that has pushed
#oil
prices higher. Parts of my chat with
@CNBC
here at
#WEF18
.
EU ban of Russia
#oil
went from “impossible” to “likely” in just 2 months. How? Strategic stocks from EU, Japan & US adding crude to market; China COVID lockdowns; & US production poised for big increase this year. My talk w/
@DavidWestin
@BloombergTV
China stands to gain the most from the energy transition ahead, writes
@DanielYergin
. For the U.S., navigating the world’s new energy map will require significant choices.
Timely remembrance! Big thank you in
#HeatWaveof2019
to Willis
#Carrier
for inventing air conditioning. Breakthrough idea came to him on fog-shrouded Pittsburgh railway platform in 1902. Led to patent "Apparatus for Treating Air". Humidity preoccupied him.
#TheQuest
chapter 31
(2/2) Meeting
#NetZero
by 2050 goals would double demand for
#copper
(aka the “metal of electrification”) by 2035. The world has never produced so much in such a short time. Our recent
@SPGlobal
study lays out the challenge.
Read it here:
EU already determined to move away from Russia energy supply. Question was a matter of timing. Putin’s signal to use energy as a weapon (Poland, Bulgaria) adds motivation to EU to make that timeline even shorter. My talk w/
@NPRinskeep
&
@MorningEdition
.
Big reveal: my guest to kick off Season 8 of
@MLCleaningUp
will be
@DanielYergin
- the world's most influential energy analyst! Wednesday 6pm UK, 7pm European, 1pm EST 10am PST.
There is high sense of urgency at
#Davos
this week amidst disruption shaking world energy markets and driving
#oil
prices up. It will be a different world after the
#Ukraine
crisis than before. My Q&A w/
@nytimes
about this epochal moment.
#WEF22
Russia’s options to counter EU crude ban and U.S.-led price cap have been made more difficult by current
#oil
market conditions. My new
@WSJ
column on why Russian countermoves could even backfire:
EU is at point of “no return.” It wants to be done w/ energy from Putin’s Russia. That will take some time and Russia can still export elsewhere. But its industry will deteriorate as result. It will be a lesser energy power. My talk w/
@AliVelshi
&
@msnbc
Pleased to join Bridgewater Associates alongside
@AngelaStent
for a wide-ranging discussion on the current state of war in Ukraine--how it & Russia's role in an increasingly bipolar world are reshaping the global energy map. Listen⬇️
The nature and sheer scale of the oil price collapse and the geopolitical wrangling it has prompted will have significant consequences for the U.S. economy and U.S. foreign policy in an already perilous moment,
@DanielYergin
writes.
Mayor
@SylvesterTurner
said Houston opened up "too soon....Now, we have exponential growth,... higher number of people in ICU. We’ve just been moving in the wrong direction. And now we’re seeking ways to reset and to kind of get this virus back in a much more manageable state."
Insightful & engaging discussion with
@HoustonTX
Mayor
@SylvesterTurner
about being at the center of a
#COVID19
resurgence; his thoughts on race relations and police reform, and much more on
#CERAWeek
Conversations.
WATCH here:
For more on how Putin’s
#Ukraine
invasion will turn Russia into a “Reduced Energy Power” (no longer an Energy Superpower) and how it has led to a rediscovery of energy security for the West, see my article for
@TheEconomist
.
The combo of global energy and geopolitical crises (plus inflation) means little can be done in the short term re: high oil/gas prices. Only check would be a recession. Energy markets have become Putin’s 2nd front in
#Ukraine
. My talk w/
@SquawkStreet
The world depends on synchronized global supply chains that keep the world's oil and gas flowing. But those chains are buckling as a consequence of the invasion of Ukraine by Russia, the world's second largest oil producer, after…
US energy independence remains underappreciated even as energy security very much back on the agenda. Underinvestment in new supply a concern (especially for emerging economies) as China reopens and markets tighten. My talk w/
@MariaBartiromo
#WEF23
.
The “what” of energy transition (Net Zero) is well established. The “how” of overhauling $90T global economy in little more than 1/4 a century remains the big question. Pleased to unpack it all w/
@samanthaenergy
on new
@BrookingsInst
Energy Sense podcast.
As the global consensus around
#energytransition
becomes stronger, the challenges to achieving it also become clearer. Energy security, timing & costs, a new North-South divide, & the voracious demand for minerals among the biggest. My
@IMFNews
article⬇️