Introduction: the Texas paradox -- And then there was light: from chaos to order in the kerosene era (1859-1911) -- No Rockefeller, no peace: boom-bust returns (1912-1933) -- Why are oil prices prone to boom bust cycles? -- The Texas era of price stability: US supply controls and international...

As OPEC has loosened its grip over the past ten years, the oil market has been rocked by wild price swings, the likes of which haven't been seen for eight decades. Crafting an engrossing journey from the gushing Pennsylvania oil fields of the 1860s to today's fraught and fractious Middle East,...