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[Episode #181] – Command Capitalism

2022 has brought an unprecedented series of energy market interventions as leaders try to stave off domestic unrest in the face of numerous energy supply shocks. Some of the tumult we’ve seen in energy markets this year can be pinned on Russia’s invasion of Ukraine, and subsequent reactions by the West. But the war in Ukraine and associated sanctions really only exacerbated numerous fundamental trends that were already well established - trends that were positioning governments to take a stronger hand in their energy affairs. We are experiencing some very fundamental supply and demand problems in all sorts of energy fuels and other commodities around the world, and governments have little choice but to intervene wherever they can to maintain stability.

Where is this all taking us? Can capitalism survive the energy transition? Or are we headed into a new era?

Our guest in today’s episode has an answer: Kevin Book of ClearView Energy Partners believes we are seeing a new approach to economic management that he calls “command capitalism.” It may help us manage some of the challenges of the global energy crunch and the energy transition in a more direct way than we could through “free market” means… but it could also wrest control of our destinies away from regulators and energy ministries, with uncertain consequences.


Kevin Book is co-founder, head of research, and the geopolitics and fossil energy policy lead at ClearView Energy Partners, LLC, an independent firm in Washington D.C. that serves institutional investors and corporate strategists. In addition, Kevin is a non-Resident Senior Associate in the Energy Security and Climate Change Program at the Center for Strategic and International Studies, a member of the Council on Foreign Relations, and a member of the National Petroleum Council.

On Twitter: @KevinBookDC

On the Web:

Recording date: July 15, 2022

Air date: September 14, 2022

Geek rating: 9