Tuesday, January 06, 2015

A Don't Read for the New Year

If  you react a bit slowly to the New York Times' Bestseller List, be of good cheer.
A November entry, "The Colder War: How the Global Energy Trade Slipped from America's Grasp," by Marin Katusa, may go down in publishing infamy as one of the most-wrong analyses of the international situation ever issued.
 
Skip this one.
Katusa, a self-proclaimed energy expert, tells us that Russia has wrested control of the energy trade from Saudi Arabia and that Putin's rule has his country in the midst of a rapid economic renaissance. 

How are those statements looking a scant two months after the book was published? Russia's currency is in free-fall. So much oil has flooded world markets that Putin's economy, which depends almost entirely on energy exports, is tanking. The Saudis demonstrated their powerful influence on world energy markets at the most recent OPEC meeting when they refused to cut production to shore up falling crude oil prices.

If you missed  "The Colder War," rejoice. 

7 comments:

Kay said...

Oh ouch! I'm sorry you paid money for this; if you did, that is.

joared said...

Are you starting a book club -- What Not To Read -- sounds like a good idea to me and this one sounds like a prime example.

schmidleysscribblins.com said...

I read many books associated with energy and the environment. Became interested in the subject because my grandfather was an electrical engineer. I will certainly give this book a miss while simultaneously laughing at folks who think that electric cars will stop global warming. I suppose most folks know it takes mostly dirty energy to produce electricity?

We can thank energy producers in the U.S. for putting the U. S. back on top.

Dick Klade said...

Good point about electricity production, Dianne. One must look at the entire picture when considering what actions create environmental improvement.

PiedType said...

Things have certainly changed for Russia since they marched confidently into Crimea, and I'm not at all sorry about it.

As for the shift in the global energy scene, I hate having to credit the US fracking industry. I hate everything about fracking, particularly the industry's intense efforts to move close to and into Colorado's incorporated areas. The environment and our quality of life are at least as important as some energy company's 500th well.

Big John said...

Don't you just love those 'experts'?

Jhawk23 said...

How funny! If he had written this book about two years ago he might have been hailed as a genius. But he'd still have egg on his face today.

Odd how quickly the sands of global economics can shift. And speaking of shifting sands, we as Americans should be cautious. We're in the catbird seat now (does ANYBODY by the way know the origin of that phrase?) thanks to the promise of fracking, but there's new evidence now from recent earthquakes that fracking may cause the ground to shift under our feet in a very literal way.