The Prize
The Prize: The Power Play for Oil
The world has been forcibly changed by the discovery, invention or innovation of various things throughout history, as food items, weapons and even techniques have shaped world history. However, oil stands as perhaps the premier thing to ever shape history, as oil has remained a mainstay within the global power struggle for centuries. Daniel Yergin acknowledges the power and possibility made available by oil in his renowned book The Prize, where he explains the history of oil from its initial discovery to its current place within diplomatic matters and economic stability. Yergin details the important places, people and corporations that influenced the oil business in its earliest days. As Yergin begins, he explains how rock oil became a cash cow for Rockefeller, as he was able to maintain a monopoly for several years. The book continues into how the oil industry spread across the globe, as the United States government eliminated Standard Oil’s monopoly. Oil remains a major dependency for the United States and many parts of the world, as the non-renewable resource, according to Yergin, will eventually create a serious and unmistakable predicament for the United States and the rest of the world. The oil industry did not begin with the wealth and promise that exists today, as speculation led to the exploration for and discovery of oil. George Bissell, interested in searching for the benefits of rock oil, realized that he himself was not equipped with the necessary skills as a lawyer. Knowing that he lacked the skills, Bissell hired Benjamin Silliman to research the properties of rock oil, since Silliman was a renowned Yale professor. Bissell, looking for any opportunity to strike it big, believed that rock oil might function as a lubricant or an illuminant for lighting. Silliman performed an extensive study of rock oil, but when Bissell failed to come up with the money to pay, Silliman withheld his findings. Believing
The world has been forcibly changed by the discovery, invention or innovation of various things throughout history, as food items, weapons and even techniques have shaped world history. However, oil stands as perhaps the premier thing to ever shape history, as oil has remained a mainstay within the global power struggle for centuries. Daniel Yergin acknowledges the power and possibility made available by oil in his renowned book The Prize, where he explains the history of oil from its initial discovery to its current place within diplomatic matters and economic stability. Yergin details the important places, people and corporations that influenced the oil business in its earliest days. As Yergin begins, he explains how rock oil became a cash cow for Rockefeller, as he was able to maintain a monopoly for several years. The book continues into how the oil industry spread across the globe, as the United States government eliminated Standard Oil’s monopoly. Oil remains a major dependency for the United States and many parts of the world, as the non-renewable resource, according to Yergin, will eventually create a serious and unmistakable predicament for the United States and the rest of the world. The oil industry did not begin with the wealth and promise that exists today, as speculation led to the exploration for and discovery of oil. George Bissell, interested in searching for the benefits of rock oil, realized that he himself was not equipped with the necessary skills as a lawyer. Knowing that he lacked the skills, Bissell hired Benjamin Silliman to research the properties of rock oil, since Silliman was a renowned Yale professor. Bissell, looking for any opportunity to strike it big, believed that rock oil might function as a lubricant or an illuminant for lighting. Silliman performed an extensive study of rock oil, but when Bissell failed to come up with the money to pay, Silliman withheld his findings. Believing