82
" In February 1959, the Journal of Commerce, in a story headlined “Cargo Ship with Methane on High Seas,” announced that a converted World War II freighter, renamed the Methane Pioneer, had set sail from Louisiana for England. It carried a cargo that had never before been shipped over the seas—liquefied natural gas—LNG. Liquefied natural gas is the product of a complex process that refrigerates natural gas to extreme cold, down to minus 260 degrees Fahrenheit, thus compressing it into a liquid. Since in its liquid form the gas takes up only one six-hundredth of the space that it would in its gaseous state, it can be pumped into tanks on refrigerated ships and transported across oceans and then “regasified”—turned back into gas—at the other end and pumped into a pipeline system in the receiving country. "
― Daniel Yergin , The New Map: Energy, Climate, and the Clash of Nations
85
" Shortly after Cheniere, Freeport put its application in to the government to transform its import facility into an export facility. But unlike Cheniere, it did not get a quick approval. Nothing seemed to be happening. Someone explained to a frustrated Smith, “In Washington, the first application is an application. The second application is public policy.” What had taken Cheniere nine months would take Freeport almost four years. The same proved true for another first-mover project, Sempra LNG at Cameron, Louisiana, as well as other newer projects. They would all have to wait. "
― Daniel Yergin , The New Map: Energy, Climate, and the Clash of Nations
89
" Mubarak had been a resolute ally, key to peace with Israel and to the 1991 Gulf War coalition (praised by George H. W. Bush as “my wise friend”), and then in the campaign against Al Qaeda. Barack Obama’s senior advisers—Secretary of State Hillary Clinton, Defense Secretary Robert Gates, and Vice President Joe Biden—urged caution in joining the rush to push Mubarak out. Gates was on the National Security Council in 1979 when, in his view, the United States had pulled the rug out from under the shah, with the expectation that a democratic revolution would follow. The result instead was the rise of the Ayatollah Khomeini, U.S. diplomats held hostage for 444 days, and the implacably hostile Islamic Republic. "
― Daniel Yergin , The New Map: Energy, Climate, and the Clash of Nations
91
" Sheikh Zayed al Nahyan, who had ruled Abu Dhabi beginning in 1966 and was the founder of the United Arab Emirates in 1971, would warn that the emirate could not always depend on oil. With that in mind, he had established ADIA—the Abu Dhabi Investment Authority—considered today the second largest sovereign wealth fund in the world, with assets publicly estimated at over $800 billion. His son, Mohammed bin Zayed, became crown prince in 2004. He catalyzed the drive to broaden the economy. “In 50 years, when we might have the last barrel of oil,” he said, “when it is shipped abroad, will we be sad? If we are investing today in the right sectors, I can tell you we will celebrate.” One initiative was Mubadala, a second sovereign wealth fund, with about $230 billion under management, which tilts toward building and investing in companies both in Abu Dhabi and internationally. "
― Daniel Yergin , The New Map: Energy, Climate, and the Clash of Nations
92
" Vision 2030 itself, launched in 2007, which laid out the overall strategy. The message was that the country needed to diversify its revenue base, upgrade skills, create jobs, and increase the participation of women in the economy. The results have come faster than might have been expected. Two decades ago, almost all of GDP was oil-based. Today, about 60 percent of GDP is non-oil-related. Non-oil exports have risen from just 13 percent of total exports in 2010 to 57 percent in 2018. "
― Daniel Yergin , The New Map: Energy, Climate, and the Clash of Nations
93
" The South China Sea, described as the “world’s most critical waterway,” stretches from the Indian Ocean to Asia and the Pacific Ocean. It is bordered by Indonesia, Malaysia, Brunei, the Philippines, Vietnam, China, and Taiwan. Singapore is just beyond its limits. Through its waters pass $3.5 trillion of world trade—two-thirds of China’s maritime trade, and over 40 percent of Japan’s and 30 percent of total world trade. The flows include fifteen million barrels of oil a day—almost as much as goes through the Strait of Hormuz—as well as a third of the world’s LNG. Eighty percent of China’s oil imports pass through "
― Daniel Yergin , The New Map: Energy, Climate, and the Clash of Nations
95
" Nasser’s new order appeared to be on the way when military officers, pledging “loyalty” to him, seized power in a coup in Syria. This led, in 1958, to a “merger” of Egypt and Syria into what was supposed to be a single country, the United Arab Republic. But then in 1961 other officers seized power in Damascus and promptly withdrew Syria from the new “state.” The following year, Nasser sent troops to intervene in the civil war in Yemen, expecting a quick victory that would expand his reach. Instead it turned into a long battle against royalist guerrillas and a proxy war between Egypt and Saudi Arabia. Iran joined with Saudi Arabia to support the guerrillas in resisting the Egyptian forces, one result of which was the establishment of an Iran-Arab Friendship Society, with offices both in Tehran and Riyadh. Nasser would end up calling Yemen his “Vietnam,” a political quagmire that added to the economic woes of the grossly mismanaged Egyptian economy. "
― Daniel Yergin , The New Map: Energy, Climate, and the Clash of Nations
98
" two-tiered labor force. For every two Saudis, totaling about twenty million, there is one foreigner, adding up to about ten million, in the country. But the ratios are reversed when it comes to the workforce. About four and a half million Saudis are employed—70 percent by the government. By contrast, there are twice that many foreigners, over eight million, most of them less well paid, working in the private sector. "
― Daniel Yergin , The New Map: Energy, Climate, and the Clash of Nations
99
" The Republic of China, founded in 1912, was supposed to modernize the country and regain sovereignty. But by the beginning of the 1930s, China had degenerated into a fragmented country. Chiang Kai-shek, leader of the Nationalists and heir to the Republic of China, was fighting both warlords and Communists. In 1931, the Japanese seized control of Manchuria, where a substantial part of China’s industry was located, and breached the Great Wall. "
― Daniel Yergin , The New Map: Energy, Climate, and the Clash of Nations