Random House Audio, October 2019
This is a fascinating and scary book about what the oil and gas industry has done, to the world in general, to Russia in particular, and in lesser ways to the USA.
Discovering the great natural wealth of large deposits of oil and natural gas ought to be a great boon to a country--and it can be. If it has a strong, functional government committed to the national welfare, not just the private wealth of the ruling class, it can be. Even countries that aren't at all democratic, such as a number of the Middle Eastern oil powers, have managed to raise the income, education, and health of much of the population, not just the privileged ruling classes.
But others haven't. Maddow first introduces us to Equatorial Guinea, and the complete lack of benefit to the economic lower classes there, while the ruling family and their friends rake in the billions.
This is a fascinating and scary book about what the oil and gas industry has done, to the world in general, to Russia in particular, and in lesser ways to the USA.
Discovering the great natural wealth of large deposits of oil and natural gas ought to be a great boon to a country--and it can be. If it has a strong, functional government committed to the national welfare, not just the private wealth of the ruling class, it can be. Even countries that aren't at all democratic, such as a number of the Middle Eastern oil powers, have managed to raise the income, education, and health of much of the population, not just the privileged ruling classes.
But others haven't. Maddow first introduces us to Equatorial Guinea, and the complete lack of benefit to the economic lower classes there, while the ruling family and their friends rake in the billions.

