Summary of The History of Oil
By Peter Phillips

The History of Oil is a comprehensive and meticulously researched account of the world's most consequential natural resource. From the bitumen pits of ancient Mesopotamia to the offshore rigs of the 21st century, Peter Phillips traces the deep and complex history of oil and its unparalleled impact on human civilization. With clarity and precision, the book guides readers through oil's early uses in waterproofing, medicine, and warfare, long before it became the lifeblood of the global economy.

As the Industrial Revolution surged forward, the discovery of petroleum as a fuel source revolutionized transportation, manufacturing, and warfare. Phillips details the birth of the oil industry in Pennsylvania, the rise of Standard Oil under John D. Rockefeller, and the subsequent breakup of monopolies that shaped the modern energy market. He explores how oil became central to the development of nation-states and empires, fueling economic booms while also inciting colonial ambitions, coups, and wars.

The book delves into the formation of OPEC and the dramatic shifts in global power that followed, highlighting the oil crises of the 1970s, the Iran-Iraq War, and the Gulf conflicts. Phillips also addresses the environmental consequences of oil dependency, from spills and pollution to climate change, and the growing tension between fossil fuel interests and the push for renewable alternatives. Through a balanced and fact-driven lens, he examines how oil wealth has brought both prosperity and corruption to nations around the world.

In the modern era, The History of Oil considers the industry's uncertain future amid mounting environmental pressures, technological innovation, and the rise of electric energy. As nations grapple with energy security and climate commitments, Phillips provides valuable context for understanding the political, economic, and ecological crossroads we now face.

Blending history, geopolitics, and economic analysis, The History of Oil is an essential narrative of power, progress, and peril. It is a vital work for students, policymakers, and general readers seeking to understand how this single substance has shaped the modern world—and how it may determine our future.