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In OIL 101, Downey provides the facts one needs to understand oil, from its history and chemistry, to refining, finished products, storage, transportation, alternatives, and how prices are determined every day in global wholesale oil markets and how those markets are connected to prices at the pump.
...It differs from them, however, both in being focused not just on oil, but also in explaining more of the financial matters that play such a significant part in the price we pay for oil and thereafter for the gas that goes into the tank.
...This is useful not just to the neophyte.
...While providing some background to the debate on current world oil reserve calculations, he does not take a specific position within it. Given the nature of the debate, that is perhaps wise.
...the book will stay on my desk, and start to look as worn as some of the others."
--www.theoildrum.com, February 17, 2009
...It differs from them, however, both in being focused not just on oil, but also in explaining more of the financial matters that play such a significant part in the price we pay for oil and thereafter for the gas that goes into the tank.
...This is useful not just to the neophyte.
...While providing some background to the debate on current world oil reserve calculations, he does not take a specific position within it. Given the nature of the debate, that is perhaps wise.
...the book will stay on my desk, and start to look as worn as some of the others."
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Most Helpful Customer Reviews
100 of 101 people found the following review helpful:
5.0 out of 5 stars
Fascinating Book,
By
Amazon Verified Purchase(What's this?)
This review is from: Oil 101 (Hardcover)
Oil 101 is a fascinating book. It explains everything I wanted to know about oil.
Over the past few years with rapidly rising and falling oil prices, politicians, TV pundits and market commentators blamed speculators, OPEC, refineries and a host of other seemingly random events. I felt that everyone understood only tiny portions of the oil business. There was no single source which pulled together disparate areas describing oil. Internet searches for oil definitions yielded individual descriptions without an overall context. Downey's Oil 101 brings all parts of the oil business together in a logical easily understood manner. The sequence of chapters is perfect and the author makes no assumption of prior knowledge. The index is so thorough that I use the book daily as a desk reference. The chapter on the history of oil is refreshing and is very much worth the price of the book in itself. The book rose my interest to visit the world's first oil well in Oil Creek near Titusville, Pennsylvania where the modern oil industry started in 1859. It was certainly an interesting trip. The book explains clearly how oil markets operate and oil prices change. The amount of useful information contained in this book is phenomenal. A more important point that I like this book is that the book is very interesting and easy to read. This is exceptional for a highly specialized technical book. I highly recommend Downey's Oil 101. Below is the table of contents: Part One: Oil fundamentals Chapter 1: A brief history of oil Chapter 2: A crude oil assay Chapter 3: Components of oil liquids Chapter 4: Chemistry of oil Chapter 5: Industry overview Chapter 6: Exploration and production Chapter 7: Refining Chapter 8: Standards Chapter 9: Finished products Chapter 10: Petrochemicals Chapter 11: Transporting oil Chapter 12: Storage Chapter 13: Seasonality Chapter 14: Reserves Chapter 15: Environmental regulations Chapter 16: New engine technologies Part Two: Oil markets Chapter 17: Oil prices Chapter 18: Forward oil markets - futures and swaps Chapter 19: Forward oil markets - options Chapter 20: Managing oil price risk
40 of 41 people found the following review helpful:
5.0 out of 5 stars
The oil industry from A-Z,
By RR (London, UK) - See all my reviews
This review is from: Oil 101 (Hardcover)
As a commodity markets professional with over 12 years experience in the industry, I did not expect to gain a significant amount of incremental knowledge from reading this book. Boy, was I wrong!
From the first chapter which gives an overview of the oil industry to the last on the the oil derivatives markets, I learnt new information from seemingly every page. As I read through the book, nomenclature and practices that I had taken for granted in the business took on more significant meaning as I understood why they existed (e.g. why do US domestic flight routes use JetA and international routes use JetA-1? Because JetA-1 has a lower freezing point suitable for polar routes and because JetA production is more profitable to refineries as it can be produced in slightly higher volumes). And given that oil is a commodity with global impact, it affects the industry practices for other commodities as well. Thus, an investment in this book has benefit outside the oil industry. I have subsequently bought copies of this book for colleagues who are also commodity professionals; it is that good.
27 of 28 people found the following review helpful:
5.0 out of 5 stars
Oil 101 by Morgan Downey,
This review is from: Oil 101 (Hardcover)
This is an excellent starting point for anyone - whether they are a student or a hobbyist, to learn in a clear, concise and systematic manner, about liquid oil exploration, production and use. This is not a high-level technical manual, but it does cover all the essential details; geology, engineering and chemistry of liquid oil and oil products. It is a well laid out text, it is easy to read and it would be a first choice undergraduate text for a one semester course for engineers, scientists and economists.
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