- Insider asked portfolio manager and energy expert Rob Thummel for his top book picks to learn about Europe's energy crisis.
- Among them are books by energy and climate reporters from Bloomberg and The Wall Street Journal.
Europe's worsening energy crisis stems from multiple factors including Russia's war in Ukraine, dwindling supply, soaring prices, policy and weather.
To better understand how all these variables interact, Insider asked a portfolio manager at an energy investment firm to share his top book recommendations.
"These books basically highlight how essential energy is, big picture," Rob Thummel of Tortoise told Insider. "From turning on your lights, heating your home, driving your car — you take for granted how important energy is."
The World for Sale: Money, Power, and the Traders Who Barter the Earth's Resources by Javier Blas and Jack Farchy
One of the authors of this book, Bloomberg columnist Javier Blas, is a top authority on all things energy markets, Thummel explained, and this book provides great context as to how markets work and the interactions between different trades happening on the world stage.
"This book, like the others, shows how lucky we are to have had low cost energy for such a long time, especially in the US," Thummel said.
The New Map: Energy, Climate, and the Clash of Nations by Daniel Yergin
Thummel recommended this book by the Pulitzer-prize winning reporter because it provides details on energy markets in the context of how nations and climate battles are reshaping the world map.
The book covers the "shale revolution" in oil and gas in the US, the rising energy conflicts with Russia and China, as well as broader geopolitical storylines and implications.
The Moral Case for Fossil Fuels by Alex Epstein
"This is the most controversial book," Thummel said. "But it raises some very interesting arguments."
Epstein's book argues that, typically, only one side of the story is publicized when it comes to the energy debate.
To Thummel, it presents "some good points" that can help fill in some new ideas and provide context for how Europe ended up in its current, worsening energy dilemma.
"It does say that oil and natural gas are pretty important," he said. "There's a lot of time and effort in developing low cost energy, and oil and gas are going to play a important role for awhile."
Putin's Oil: The Yukos Affair and the Struggle for Russia by Martin Sixsmith
This book, according to Thummel, provides a portrait of Vladimir Putin and his approach not only to the energy markets but to his leadership style.
"It really shows you the Russian oil sector, it shows truly what Putin's character is, and provides some historical account on how things were operating years ago," Thummel said.
Superpower: One Man's Quest to Transform American Energy by Russell Gold
Thummel noted this is a "great book" by former Wall Street Journal reporter Russell Gold on the development on wind and solar power.
It covers the US's energy transition to renewable resources, and how it is making moves to become less reliant on fossil fuels.
Paired with Epstein's book, it offers additional context as to how clean energy initiatives impact and change current energy markets.