Cover image for Following oil : four decades of cycle-testing experiences and what they foretell about U.S. energy independence
Title:
Following oil : four decades of cycle-testing experiences and what they foretell about U.S. energy independence
Author:
Petrie, Thomas A., 1945-
Personal Author:
Publication Information:
Norman : University of Oklahoma Press, [2014]
Physical Description:
xv, 254 pages : illustrations ; 24 cm
Language:
English
Contents:
Early encounters with the oil sector -- A tumultuous decade -- Reorganization and consolidation -- Turning points -- Game changers I -- Game changers II -- Alternative energy options -- Unconventional fossil fuels -- Upcoming issues and challenges in the U.S. energy outlook.
ISBN:
9780806144207
Format :
Book

Available:*

Library
Call Number
Material Type
Home Location
Status
Central Library HD9565 .P3497 2014 Adult Non-Fiction Non-Fiction Area
Searching...

On Order

Summary

Summary

In a forty-year career as an oil and gas investment analyst and as an investment banker and strategic adviser on petroleum-sector mergers, acquisitions, and financings, Thomas A. Petrie has witnessed dramatic changes in the business. In Following Oil, he shares useful lessons he has learned about domestic and global trends in population and economic growth, a maturing resource base, variable national energy policies, and dynamic changes in geopolitical forces--and how these variables affect energy markets. More important, he applies those lessons to charting a course of energy development for the nation as the twenty-first century unfolds.

By the 1970s, when Petrie began analyzing publicly traded securities in the energy sector, the petroleum investment market was depressed. The rise of the Organization of Petroleum Exporting Countries (OPEC) pushed energy to the center of the national security calculus of the United States and its allies. Price volatility would continue to whipsaw global markets for decades, while for consumers, cheap gasoline prices soon became a fond memory. Eventually, as Petrie puts it, finding oil on Wall Street became cheaper than drilling for it.

Petrie uses this dramatic period in oil business history to relate what he has learned from "following oil" as a securities analyst and investment banker. But the title also refers to energy sources that could become available following eventual shrinkage of conventional-oil supplies. Addressing the current need for greener, more sustainable energy sources, Petrie points to recent large domestic gas discoveries and the use of new technologies such as horizontal drilling to unlock unconventional hydrocarbons. With these new sources, the United States can increase production and ensure itself enough oil and gas to sustain economic growth during the next several decades. Petrie urges the pursuit of cleaner fossil fuel development in order to buy the time to develop the technical advances needed to bridge the nation to a greener energy future, when wind, solar, and other technologies advance sufficiently to play a larger role.


Table of Contents

List of Illustrationsp. viii
Prefacep. ix
Acknowledgmentsp. xii
List of Abbreviationsp. xiv
Part I Cycle-Testing Experiences, 1967-2013
Chapter 1 Early Encounters with the Oil Sectorp. 3
Chapter 2 A Tumultuous Decadep. 21
Chapter 3 Reorganization and Consolidationp. 43
Chapter 4 Turning Pointsp. 65
Chapter 5 Game Changers Ip. 87
Chapter 6 Game Changers IIp. 117
Part II The Energy Challenges (and Opportunities) That Lie Ahead
Chapter 7 Alternative Energy Optionsp. 151
Chapter 8 Unconventional Fossil Fuelsp. 167
Chapter 9 Upcoming Issues and Challenges in the U.S. Energy Outlookp. 193
Epiloguep. 211
Appendix A U.S. Natural Gas Transportation Switch and Effect on Emissionsp. 215
Appendix B World Events and Oil Price Trends (1970-2012)p. 216
Appendix C Investing Rulesp. 219
Notesp. 223
Glossaryp. 231
Bibliographyp. 237
Indexp. 243

Google Preview