Daniel Yergin has issued an updated version of his Pulitzer Prize-winning book, The Prize: The Epic Quest for Oil, Money and Power.

When I asked why he chose to release an update of his earlier work, Yergin identified four key factors that have to be added to the energy policy picture. First, oil has become a financial instrument in and of itself; two, globalization has broadened demand significantly with the entry of India and China into the global economic network; third, the climate change agenda; and fourth, the explosion of technological innovation in the energy sector.

This book is a must read for those who want to delve into the oil and energy drivers of US foreign policy, and I really enjoyed this discussion with Yergin. I hope others find this seven minute exchange useful.

-- Steve Clemons