The US is at an energy crossroads of sorts, with decisions to make about how best to fuel our vehicles, businesses and homes in an era of abundant fossil fuels, falling alternative energy prices, climate change concerns and economic uncertainty. These are the issues Michael Levi dissects in his new book, “The Power Surge – Energy, Opportunity, and the Battle for America’s Future.”

The book begins with an anecdotal account of a trip through Ohio to tour a natural gas drilling and hydraulic fracturing operation, along with an anti-fracking protest. Storytelling and interviews mix with more detailed analysis throughout the book, which helps keep the reader engaged during what could otherwise be dry spells of economic or political discussion.

The first chapter does a great job setting the stage and quickly bringing the casual reader up to date on the history of US energy policy, supply/demand fundamentals and issues of the day. It could have been useful to make the basic distinction between liquid transportation fuels and power generation – the greatest energy demand sources – early on, but the important issues are clearly set forth and he makes some excellent points while setting a course for the reader.

Referring to the polarized nature of current issues like fracking or the Keystone XL pipeline project, he writes, “Sometimes this is because the two sides disagree about priorities, but more frequently their goals largely coincide: they want economic prosperity, national security, and a cleaner environment for their kids. They just disagree, often vehemently, about what matters most and the best way to deliver it.”

The book does a decent job of explaining the immensely complex global oil market and the US role within it, a topic whose surface can only be scratched by an entire graduate-level college course. Levi adeptly unpacks the most widespread claims regarding increased US oil production’s economic impacts.

Levi maintains a no nonsense, unbiased approach and readily calls out exaggerations made by groups on either side of a given issue. For example, he calls the American Petroleum Institute – the main oil industry trade group – “too generous” when estimating the total number of jobs the US petroleum industry generates. API estimates 10 million employed, but that figure includes all the people working at nearly 200,000 gas stations across the country. He finds half a million to a million to be a more realistic range and points out that in an economy with more than 100 million people who want to work, “it’s not world-changing.”

The climate change discussion really excels, which makes sense as Levi is the David M. Rubenstein Senior Fellow for Energy and the Environment at the Council on Foreign Relations. He concisely identifies the cost/benefit analysis that must be used when considering various greenhouse gas emissions mitigation strategies.

“More often than not, when an American turns on her lights, there’s a coal- or gas-fired power plant somewhere that’s producing the electricity, and in the process, adding to climate change. But no one is calling for Washington to issue a ban on turning on lights; the benefits of having light outweighs the damages.”

Tailpipe emissions are one of the largest US carbon footprint contributors and Levi provides detailed treatment of the new technologies transforming the US transport sector, from electric vehicles to high-efficiency internal combustion engines. Ultimately, he finds the move toward more efficient vehicles beneficial for the US economy, the environment and national security. He also sees electric vehicle proliferation and advanced gasoline engine technology compatible with the trend toward more US oil production, calling both trends “beneficial developments.”

Levi reaches the conclusion that there are two energy revolutions currently playing out in the US: A clean energy movement that helps combat the effects of climate change and a hydrocarbon production renaissance. These two major energy developments are not mutually exclusive – although they are often presented as such by those with extreme views – and the proper mix of government policy and market behavior can extract benefits from both cleantech and increased oil & gas production.

Levi arrives at what he calls a “most-of-the-above strategy” that “embraces a broad set of energy opportunities but is still discriminating.” He suggests 4 rules that leaders should follow to capitalize on the unfolding revolutions in American energy, but you will have to read the book to found out what they are.