Ancient sources told of "pillars of fire" in the Caucasus Mountains around Baku, and after Russia annexed the region in the early 19th century, a primitive industry developed there, thwarted by the region's backwardness and isolation, as well as by incompetent czarist administration. Winner of the Pulitzer Prize and hailed as the best history of oil ever written by. Its leadership and other experts doubted that oil would be discovered outside the U.S.Īmerican kerosene found a ready market in Russia in 1862. The Prize: The Epic Quest for Oil, Money & Power (Paperback). oil output was exported, mostly to Europe, with Standard responsible for 90%. Winner of the Pulitzer Prize and hailed as the best history of oil ever written by Business Week, Daniel Yergin’s spellbindingirresistible. consuls eagerly pushed the new "Yankee invention," and helped develop distribution networks. The Prize: The Epic Quest for Oil, Money & Power. Europe was oil-hungry for the same reasons as Americans: lighting, industrialization, and urbanization. Daniel Yergin spoke about his book, 'The Prize: The Epic Quest for Oil, Money and Power.' He spoke about how the oil industry has strengthened the power base of the Middle East and the role oil. The thought of kerosene fires at sea was terrifying, but after the first safe delivery to London in 1861, global trade grew rapidly.
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