Daniel Yergin
Not Fade Away
Before 2013 begins, catch up on the best of 2012. From now until the New Year, we will be re-posting some of The New Republic’s most thought-provoking pieces of the year.
How Libya’s Energy Economy Can Avoid Iraq’s Mistakes
Since Muammar Qaddafi was toppled in Tripoli, Saddam Hussein’s fall in Baghdad eight years ago and 1,800 miles away has framed much of the way many think about it. Global leaders, reporters, experts, and even Libyan officials have explicitly argued that Libya will not become another Iraq. This is particularly emphasized when addressing oil and natural gas, which not only dominate Libya’s economy but also are important to the global economy.
Kaboom!
The words most often used by the heads of oil companies to describe the boom are “revolution” and “game changer.” Industry historian Daniel Yergin calls it “the shale gale.” Admittedly, serious questions remain as to whether shale gas will pass the ecological test—critics say it can’t be extracted safely in proximity to groundwater, and the EPA is engaged in a two-year study of extraction techniques.
