Oil (Groundwork Guides)
In the early years of the 20th century, the availability of cheap oil fueled explosive industrial growth and the development of the world’s leading economies. From the days of “Drake’s Folly” in 1859 Pennsyvania until today, the world has used more than half of the cheap and easy to get to oil. Now, oil supplies are dwindling and the true cost to the world’s economies of our profligate use of oil is only now becoming clear.
America is embroiled in warfare and diplomacy to retain its hold on the Persian Gulf, the world’s richest petroleum-producing region. In this new entry in the popular Groundwood Guides series, James Laxer tells the story of the rise of the giant petroleum companies and how they seized control of oil fields and markets worldwide.
Laxer describes the intricate relationship between oil supplies, money, war, geopolitics and he explains the dynamics of consumption and supply with regard to the world’s production of crude oil.
Laxer concludes by examining the challenges that humanity will face as it comes to grips with the stark reality that oil is a finite resource. He also touches upon the consequences burning the oil that remains including potentially catostrophic climate change.
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