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Black Gold: The New Frontier in Oil for Investors Hardcover – June 5, 2006

ISBN-13: 978-0471792680 ISBN-10: 0471792683 Edition: 1st

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Product Details

  • Hardcover: 224 pages
  • Publisher: Wiley; 1 edition (June 5, 2006)
  • Language: English
  • ISBN-10: 0471792683
  • ISBN-13: 978-0471792680
  • Product Dimensions: 9.1 x 6.3 x 0.8 inches
  • Shipping Weight: 13.6 ounces (View shipping rates and policies)
  • Average Customer Review: 3.6 out of 5 stars  See all reviews (8 customer reviews)
  • Amazon Best Sellers Rank: #3,475,724 in Books (See Top 100 in Books)

Editorial Reviews

Review

"The book has useful points to make…" (Lloyd's List, August 2006)

From the Inside Flap

Modern living is driven by oil, from the gasoline that propels our cars to the electricity that powers our homes to the military that protects our freedom. Throughout the twentieth century, a relatively uninterrupted supply of oil has fueled our nation's unparalleled growth.

Yet steadily increasing demand from the United States, as well as from rapidly developing nations such as China and India, has begun to seriously strain the world's oil reserves. This representsthe onset of a challenging new economic, philosophical, and political world—and an unprecedented opportunity for in-the-know investors.

Black Gold argues that oil prices are primed for an "überspike" and examines how institutional and individual investors can reap substantial rewards from this volatile and uncertain environment. Written by veteran oil analyst and journalist George Orwel, this insightful and prescient book provides you with:

  • Analysis of alternative fuel sources, from solar and nuclear energy to wind and even wood, and the pluses, minuses, and potential investment value of each
  • Insights from dozens of major figures, from energy industry executives and observers to seasoned investing pros
  • An insider's look at Saudi Arabia and other Middle Eastern countries, discussing how what they say they can produce—versus what they actually can produce—will rock future markets
  • Detailed charts and graphs on why the best time to invest in oil-related investments is NOW—and proven strategies for uncovering the most profitable opportunities
  • Actual investments, from ETFs and energy futures to hedge funds and oil-related companies, that stand poised to provide you with better-than-average returns over both the short- and long-term

Oil is the dominant energy source fueling the modern economy. When you combine that knowledge with the fact that oil is a nonre-?newable resource that will be exhausted at some indeterminate future time, it is easy to see how its value to you as an investor cannot be overstated.

Black Gold views this opportunity from every angle. Whether you are an oil industry executive looking for new perspectives or an investor searching for new ideas to enhance your portfolio's performance, this dramatic and valuable book will change the way you view today's evolving energy marketplace—and your role as an investor in that marketplace.


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Customer Reviews

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Most Helpful Customer Reviews

5 of 5 people found the following review helpful By Seth Maier on March 8, 2007
Format: Hardcover
I had high hopes for this book, given the subject matter and my interest in energy stocks. "Black Gold" by reporter George Orwel (no, he's not the author of "Animal Farm") discusses the energy industry in very broad macroeconomic terms, and offers a repetitive explanation of the concept of "peak oil," that is, that point at which oil production reaches its peak before the known supply of reserves begins a steady decline. The pessimists (mostly geologists) think peak oil will occur in the next five to 10 years, while the optimists (mostly economists) think peak oil will occur in 30 years at the very earliest. This dwindling supply will create opportunities for investors who want to capitalize on increased investment in oil exploration infrastructure and technology. This book was published when oil was at $80 a barrel in summer 2006, which at the time was a peak price, and the prediction that oil would reach $100 a barrel within two years proved to be remarkably conservative. China and India show no signs of slaking their thirst for oil, environmentalists oppose tapping into potentially vast U.S. resources, and capacity constraints among refiners limit supply of gasoline. As this book is not the first to point out, China may have as many cars in the next 10 years as the United States does now.
The book also has no specific ideas on which energy-related companies are best positioned to grow in the next five to 10 years. For that kind of info, I recommend investors do some homework on the oil service companies, such as Weatherford International, Schlumberger, Cameron International, National Oilwell Varco, and Halliburton. Perhaps only two of these companies are even mentioned in this book, which tends to discuss ideas about investing in energy-related ETFs and commodities.
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8 of 10 people found the following review helpful By Dr. Jonathan Dolhenty on June 19, 2006
Format: Hardcover
First, a disclaimer. I no longer have financial investments in the stock or bond markets so I do not keep up to date on the details of their activities, although I do check the ups and downs of the Dow, NASDAQ, and the S & P on a daily basis. While George Orwel's "Black Gold" should appeal to active investors, particularly to those involved in or considering the oil and natural gas markets, it's primary appeal to me was the background the author supplies in Parts One and Part Two of his book regarding the oil industry in general, especially its past development, its current status, and its probable future.

All of us are impacted by the oil industry in one way or the other and the future of oil (most recently its price at the gas pump!) is of vital concern to virtually everyone. Furthermore, the problem of oil conservation, the controversies surrounding air pollution and global-warming, the possibility of running out of oil sometime in the future, and the urgency of developing alternative fuels are all "hot topics" right now, both in the national and international press as well as among ordinary consumers.

Part One of Orwel's book is entitled "The End of Oil" and asks the question: is this "The End of an Era?" Then the book discusses the consequences of an oil peak and probes the matter of alternative fuels, from solar and nuclear energy to wind and even wood. Orwel discusses the advantages and disadvantages of each alternative fuel source and includes information regarding the potential investment value of each alternative.

Part Two is entitled "The Middle East Problem" and asks the question "Is the Saudi Oil Supply Adequate?" and discusses the "Iraqi Oil Supply and the Battle of Baghdad.
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3 of 4 people found the following review helpful By M. L Lamendola VINE VOICE on June 20, 2006
Format: Hardcover
The subtitle of this book, "The New Frontier in Oil for Investors," would indicate this book is a guide to investing in oil. It is not. If you're looking for a manual that will tell you how to make gazillions of dollars from investments in the oil marketplace, keep looking. Black Gold does provide some good tips for investors, but few of those would be new to seasoned investors.

The real value of this book lies elsewhere: understanding the energy issues facing industrialized nations. This particular topic is one where the "ignorati" weigh in with various unfounded opinions and absurd suggestions--everything from suggesting Americans should boycott certain gas stations to assuming technology will provide new energy sources that make oil obsolete.

Orwel, unlike the "analytically-challenged" talking heads, very clearly presents the picture on the looming energy crisis. Is there really an energy crisis? Many "experts" assure us there is not. They point to alternative energy sources and say we have nothing to worry about because these sources are here now. All we have to do is switch over--no problem. Orwel dispels these notions by examining a few of these. For example, he points out that "We could line the Atlantic coast with windmills and still not make much of a dent in electricity demand."

Many experts who agree there is an energy crisis also say the easy solution is to simply extract more oil. They recommend such thing as drilling in ANWAR or expanding production in existing fields. The first recommendation ignores the realities of enormous lead times. The second one violates the principle of getting blood from a turnip. Even if we could do these things right now, they wouldn't fill the gap produced by projected demand in the near term.
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