Continuing our blog series, “Powerful Reading,” our team of energy trading consultants at MidDel Consulting will be sharing some of their favorite books. These books have not only influenced them in the excellent work that they do for our clients as energy consultants, but have also helped them gain perspective on a variety of global issues as we continue to strive to build a culture of lifelong learning. Today, we look at a book entitled:
The Quest: Energy, Security, and the Remaking of the Modern World – Daniel Yergin, 2011
This book provides a comprehensive evolution of man’s quest for energy in its myriad sources from oil, gas, and coal to solar, wind, hydrogen and others. Not only does Yergin discuss the technical histories of the energy sources, but also covers the political, economic and social impacts of each. Although the book was released in 2011, it is still relevant today as many of the obstacles facing further expansion of each energy source still exist. Geopolitics, climate change, carbon emissions and many other topics play a heavy role in dictating which energy sources make sense moving forward and each is addressed in a fact-based, non-political tone. Pros and cons are presented regarding continued drilling for oil and gas across the globe, economics related to solar power, the increasing retreat from nuclear and the ongoing search for the most efficient and clean methods for fueling transportation, such as hydrogen fuel cells, natural gas vehicles or batteries.
Understanding the history of how and why we rely on current sources of energy will help pave the way to figuring out how to move forward. This issue will be hotly debated in the coming months and years with the current administration and legislative bodies. Decisions based on a one-sided view of our available options could prove detrimental for generations to come. A common thread throughout the book highlights how slow the overall industry tends to evolve. A long-term view must be taken into consideration over short-term goals.
Scott Pederson is a Certified Public Accountant and a Senior Consultant with MidDel Consulting. MidDel Consulting is a System Integrator and Professional Services firm specializing in services supporting the business systems for Front, Back and Mid-Office. MidDel has been in business for 16 years, and our consultants, on average, bring over 25 years of senior level energy industry knowledge to our projects. We have deep relationships with our clients, often working with them for more than a decade.