The canvas of his narrative history is enormous-from the drilling of the first well in Pennsylvania through two great world wars to the Iraqi invasion of Kuwait, Operation Desert Storm, and both the Iraq War and current climate change. With his far-reaching insight and in-depth research, Yergin is uniquely positioned to address the present battle over energy which undoubtedly ranks as one of the most vital issues of our time. This updated edition categorically proves the unwavering significance of oil throughout the twentieth century and into the twenty-first by tracing economic and political clashes over precious “black gold.” Daniel Yergin’s timeless book chronicles the struggle for wealth and power that has surrounded oil for decades and that continues to fuel global rivalries, shake the world economy, and transform the destiny of men and nations. Now with an epilogue that speaks directly to the current energy crisis, The Prize recounts the panoramic history of the world’s most important resource-oil.
Flagler formed arrangements with railroads to extracting.Winner of the Pulitzer Prize and hailed as “the best history of oil ever written” by Business Week, Daniel Yergin’s “spellbinding…irresistible” ( The New York Times) account of the global pursuit of oil, money, and power addresses the ongoing energy crisis. They formed Standard Oil Company in 1870 as a joint stock company intent on consolidating all refiners into one giant combination. In 1867, he teamed with Henry Flagler, who hated "unbridled competition" and believed that cooperation among producers was key to minimizing risk. With a head for figures and clear vision, Rockefeller mastered every aspect of the new industry. Rockefeller improved the quality of his products and took the first steps towards integrating supply and distribution, to insulate his business from market volatility and to improve its competitive position. After Drake's breakthrough, they had concentrated on oil refinery. Rockefeller surprised Maurice Clark by accepting his offer to dissolve the partnership, and bought him out for $72,000. Early in 1865 two partners in a bustling Cleveland refinery were engaged in one of their frequent disputes.
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