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Oil 101 [Hardcover]

Morgan Downey
4.9 out of 5 stars  See all reviews (79 customer reviews)

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Book Description

January 1, 2009 0982039204 978-0982039205 1st
OIL 101 is a straightforward guide to oil and an essential read for anyone coming to grips with where oil prices, the economy and society are headed.

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.


Frequently Bought Together

Oil 101 + Nontechnical Guide to Petroleum Geology, Exploration, Drilling & Production, 3rd Ed. + The Global Oil & Gas Industry: Management, Strategy and Finance
Price for all three: $178.15

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Editorial Reviews

Review

"industry must-read" --Financial Times, February 25, 2009

"I read a lot of books. A quick measure comes up with more than 10 ft of shelf space filled with books relating to the topic...of my collection only 8 books sit on my desk. Today I added another to that rather select group. It is Morgan Downey's "Oil 101"

...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

Review

"I read a lot of books. A quick measure comes up with more than 10 ft of shelf space filled with books relating to the topic...of my collection only 8 books sit on my desk. Today I added another to that rather select group. It is Morgan Downey's "Oil 101"

...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."


Product Details

  • Hardcover: 452 pages
  • Publisher: Wooden Table Press; 1st edition (January 1, 2009)
  • Language: English
  • ISBN-10: 0982039204
  • ISBN-13: 978-0982039205
  • Product Dimensions: 9.1 x 6.3 x 1.6 inches
  • Shipping Weight: 1.9 pounds (View shipping rates and policies)
  • Average Customer Review: 4.9 out of 5 stars  See all reviews (79 customer reviews)
  • Amazon Best Sellers Rank: #11,076 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews
133 of 136 people found the following review helpful
5.0 out of 5 stars Fascinating Book February 1, 2009
Format:Hardcover|Verified Purchase
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.
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59 of 62 people found the following review helpful
5.0 out of 5 stars The oil industry from A-Z December 10, 2009
By RR
Format: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.
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40 of 41 people found the following review helpful
5.0 out of 5 stars Unqualified Rave July 12, 2010
Format:Hardcover|Verified Purchase
Many of the reviewers beforehand indicated that they were industry professionals with several intro. texts and comprehensive introductions to the petroleum industry already in their bookshelves. I am not one of them. I approached OIL 101 as a complete rookie who was almost completely ignorant of the details and scope of the petroleum industry, but who had lots of questions.

Some of the questions I had (and were gloriously answered) in this wonderfully helpful book include:

. How did there get to be only about half a dozen major privately owned integrated oil companies in the world? (Mergermania, plus the fact that most OPEC nations and a large number of non-OPEC nations have nationalized their oil companies.)

. Does this "Big Oil" run the show as far as global exploration and production of crude is concerned? (Hardly: a number of OPEC countries have several times the reserves of Exxon-Mobil and the other big shareholder-owned corporations, no matter how those "proven" reserves are measured). Even non-OPEC "Pemex" (Petroleos Mexicanos) has reserves that outstrip those of the biggest Major, Exxon-Mobil.

. Why is it that the U.S. Northeast Coast is reliably served by oil pipelines carrying both "dirty" (crude) and "clean" (refined) petroleum up from the Gulf of Mexico, yet New England still depends on overseas tankers (complicated!).

. Is it true that the world has begun to run out of oil? (Apparently, yes, says author Morgan Downey, who holds to the "Hubbert Thesis" that about 30 - 40 years after a country has peaked in established reserves of crude oil, its output will start to slide -- irrevocably.) Reserves in the USA peaked in the 1930s, output peaked in 1970, and total U.S.
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31 of 34 people found the following review helpful
5.0 out of 5 stars Oil 101 by Morgan Downey September 11, 2009
Format:Hardcover|Verified Purchase
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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Most Recent Customer Reviews
5.0 out of 5 stars This book is as readable as it is comprehensive. ...
This book is as readable as it is comprehensive. Before reading this book I didn't know anything about the industry, afterwards I knew enough to put everything in context.
Published 21 hours ago by Sam
4.0 out of 5 stars Great explanation of oil
takes you behind the oil wells and refineries. What is oil and its many, many uses. How we get it and how useful it is.
Published 8 days ago by Luv love
5.0 out of 5 stars Perfect.
I'm a young engineering graduate looking to get into the oil and gas industry. I bought this book as it was highly recommended as an introductory text to the petroleum industry,... Read more
Published 1 month ago by Robert
5.0 out of 5 stars The title says it all
For 15 some years I have worked as a consultant that tangentially deals with the oil and gas industry, and yet I still found this book a very good read. Read more
Published 2 months ago by Brett A. Fishwild
5.0 out of 5 stars Solid Information without the Frills
Certainly does not have a ton of flash as far as the publishing and layout, however it's worth it's weight in gold as far as the informational density and is a GREAT primer from... Read more
Published 4 months ago by Anthony
5.0 out of 5 stars Everything you need to know
Great value for someone trying to learn about the world of oil. Buy this with Frackers and you are set.
Published 4 months ago by G. L. Pooley
5.0 out of 5 stars Astounding
For the first time in my life I am writing a review, that is how good OIL 101 is. This book is GOLD.
Published 6 months ago by Rodmard
5.0 out of 5 stars Top Notch
As a solutions provider serving the refining industry, this book provided me excellent background on both the technical and financial details surrounding oil production. Read more
Published 9 months ago by Douglas A Ayers
5.0 out of 5 stars GREAT READ!!
Great book!!! I been woking in the oil industry for the past 3 years and didn't know half of the information this book offers. Read more
Published 10 months ago by Literature Lover
5.0 out of 5 stars Really a 101 book
If ever you wondered what oil was, and how it was transformed into the various elements that we use day-to-day, then this book will simply and clearly explain very complex concepts... Read more
Published 10 months ago by L. Rost
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