Russia produces about 10 million barrels of oil a day. In recent years, it has supplied Europe with nearly 40% of its natural gas imports and more than one-quarter of the oil it buys from abroad. Dependence on the country’s energy supplies, and fears of how a disruption to its exports may increase prices, have made it difficult for other governments to impose sanctions on one of its biggest industries.
As Russia’s attack on Ukraine, ordered by President Vladimir Putin, highlights holes in the West’s energy security, some have questioned the push by governments and investors in recent years to move money away from fossil fuels and toward renewable energy sources.
Daniel Yergin has written several books on the connection between geopolitics and oil. His first, "The Prize: The Epic Quest for Oil, Money & Power,” won a Pulitzer Prize. His most recent, "The New Map: Energy, Climate, and the Clash of Nations,” captures the complicated interrelation of climate policy, national security and energy.