Oil And Finance: The Epic Corruption [Paperback]

Raymond J Learsy (Author)

Book Description

Publication Date: May 13, 2011

These political essays, which originally appeared in the Huffington Post, chronicle the financial and environment malfeasance of the oil industry during the last five years.

Oil is a commodity that is essential to the world's economic well-being. But it is also an industry rife with corruption. In OIL AND FINANCE, author Raymond J. Learsy chronicles the problems within the oil industry and details how these issues affect both US and global politics.

Culled from a collection of essays that first appeared in the Huffington Post throughout the last five years, OIL AND FINANCE provides an illuminating understanding about where we've been and where we're headed as a nation with respect to our fossil-fuel consumption, our environment, our financial system, our security, and our place on the global stage. It uncovers the truth behind oil pricing-including its speculation and manipulation, the politics of oil and its impact on our security, oil's influence on our domestic and foreign policies, OPEC's success, and the menacing impact of oil on the environment.

OIL AND FINANCE presents a real-time account of a nation in crisis. Filled with contemplations and reactions, it is also a call to arms and a battle plan. It communicates how we can reduce our dependence on foreign oil, develop alternative energy sources, stabilize our economy, shore up our national security-and prosper as a people.

Editorial Reviews

Review

Kirkus calls Learsy "refreshingly blunt" and "[h]is analysis of Big Oil's influence during the George W. Bush years is particularly insightful." "Learsy (Over a Barrel, 2007) offers a chronological and critical perspective on the power wielded by Big Oil and Wall Street."

Clarion gives 4 out of 5 stars!
There is no shortage of provocative statements in Oil and Finance, but Learsy is at his best when he not only condemns current practices, but also proposes surprising yet logical solutions. - Peter Dabbene

Learsy demonstrates the characteristics of an investigative journalist as he exposes sacred cows and does his best--in the contexts of oil price gouging by producers and environmental degradation--to afflict the comfortable and comfort the afflicted. - BlueInk Reviews

From the Author

Over Five Years ago the price of oil was ratcheting skywards and the transfer of wealth to oil interests both here and abroad was massive and unabated. Having worked over twenty-five years in the commodity trading world dealing in raw materials ranging from minerals to chemical fertilizers and basic commodities such as sulphur, oil and gas I became increasingly astounded at the misinformation that pervaded the understanding of how oil prices were determined and the willful disinformation that was being circulated to make us meekly acquiesce to a rigged, manipulated and speculator driven market. I frustratingly waited a few years expecting the press or our government to educate us otherwise.  Instead the disinformation being disseminated was being accepted as gospel, virtually without questioning or cogent examination. All the while we were made to pay and pay and pay.
Both out of near disbelief and anger at what was happening to the price of oil and the ability of the oil industry and its allied interests to muffle most any argumentation or government initiative placing into question their holy writ, I decided to try on my own to make some dent into this miasma of oil company and OPEC PR handouts by writing a book on this now perilous subject entitled "Over a Barrel: Breaking Oil's Grip On Our Future".
Shortly after the first version of "Over a Barrel" was published in late 2005 I was asked to become a contributor to the then new and valiant "Huffington Post". Starting in January 2006 I have had the opportunity to follow and write about the trials and tribulations of the oil market. These redacted and reorganized political essays, which originally appeared in the Huffington Post over the past five years, chronicle the financial and environmental malfeasance of the oiligopoloy and their allies in the finance industry during that period.

See all Editorial Reviews

Product Details

• Paperback: 344 pages
• Publisher: iUniverse (May 13, 2011)
• Language: English
• ISBN-10: 1462018092
• ISBN-13: 978-1462018093
• Product Dimensions: 0.8 x 6.3 x 9 inches
• Shipping Weight: 1 pounds (View shipping rates and policies)
• Average Customer Review: 3.8 out of 5 stars  See all reviews (4 customer reviews)
• Amazon Best Sellers Rank: #481,450 in Books (See Top 100 in Books)

More About the Author

Raymond J. Learsy, a graduate of Wharton School of Business, launched into the fast-paced, risk-filled world of commodities trading beginning five decades ago.

In 1963, he started his own firm and over the course of 20 years expanded from the United States into Canada, the United Kingdom, Europe and Asia, trading in bulk raw materials and commodities. During the Reagan administration he served as a Presidential appointee to the National Council of the National Endowment for the Arts.

Learsy's analysis of the international oil trade, OPEC, and its impact on the American and world economies has been featured in the National Review Online, the New York Times, the Pipeline and Gas Journal, CNBC and NPR, and as a regular contributor to The Huffington Post. His two previous books on oil received favorable reviews, Over A Barrel (2005) and Oil and Finance: The Epic Corruption 2006-2010 (2011).

Most Helpful Customer Reviews

4 of 4 people found the following review helpful

5.0 out of 5 stars This is a must-read for all American consumers.... August 23, 2011

By CCBurroughs

Format:Paperback|Amazon Verified Purchase

Contrary to what a previous reviewer contends, I found Oil and Finance: The Epic Corruption to be an eye-opener. In addition to naming OPEC as a participant in this cauldron of corruption, Learsy also throws others into the pot, too: oil companies, Hugo Chavez, Russia and other "Enemies Foreign." This section discusses how foreign influences effect the price of oil, our financial markets and our pocketbooks.

Learsy is not shy about throwing our own "enemies domestic" into the pot, either. Cronyism within and between the government, oil interests, and financial institutions are examined, and while the problems within this triumvirate are clearly and bluntly uncovered, Learsy offers insightful solutions as well.
While there are repetitions in the text, it is mostly due to the unique nature of the presentation of these essays - unique because the reader may read a "thread" of comments about a topic that spans five years to discover what has changed, evolved or improved - or has not! Over all, I found this book to be very interesting with quotes and reputable source data clearly cited.
I closed the cover wanting to call my elected officials and yell at them to make changes in government policy regarding the oil industry and the banking policies that allowed financial institutions to be bailed out with TARP money (your and my money!) This book will make you mad about what is being done and what is not being done by the policy-makers we elected into office.

3 of 3 people found the following review helpful

4.0 out of 5 stars Mr. Learsy's Style August 11, 2011

By Janet

Format:Hardcover

Having read, Mr. Learsy's Over a Barrel a few years ago, I was quite eager to "listen" again to his observations, pleas, and solutions in Oil and Finance. As a former teacher, it is a habit of mine to give reading material a "once over" prior to getting in to the contents.
Here are my initial observations:
1.The format of the "Table of Contents" is superior to any I have seen. It serves as a timeline suitable for an instructor to use as a lesson plan guide as well as an anchor point for the general reader.
2.The introduction is written concisely and with great respect for the reader who does not want to "read-a-book" prior to reading THE book.
3.The Afterward efficiently ties up the discussion with pertinent updates and "fuels" the reader's thoughts.
4.The Index is thorough and user-friendly
The above comments show the quality of research and thought that goes in to the presentation. Mr. Learsy writes with a structured brilliance for detail and organization while keeping the reader informed and "comfortably" on track. I appreciated the use of the word SOMNOLENT in the Afterword; an excellent description of our government agencies.
Yes, the book is long but so is the time in which all he writes about has been happening. There are years of observation and thought in Oil and Finance.
It is also apparent that despite the horrific facts, to his very last words, Mr. Learsy is a hopeful man. How very important hope is for any progress to be made in all challenging aspects of life.

1 of 1 people found the following review helpful

5.0 out of 5 stars A well written and factual read November 30, 2011

By Dr. James G. Speight

Format:Paperback

I have just completed reading the book "Oil and Finance - The Epic Corruption" by Raymond J. Learsy.

The book is well written and factual and makes several good points. One in particular is that the oil producing countries (i.e., OPEC) will always keep on eye on what the market will bear and will (as told to me by the then VP of Iraq, Mr. Saddam Hussein, in 1978) that the price of oil will always be pegged at a price to make a US synthetic fuels industry seem uneconomical. The extent to which the US-based oil companies are also involved in similar thoughts is certainly worthy of consideration.

It is a pity that the book is not widely read by the politicians in Congress so that they might take steps to end the overbalanced independence of the US on foreign oil. However, I might ask would the politicians understand the book? And how many read the Huffington Post?

I can heartily recommend the book and Mr. Learsy is to be congratulated on his efforts at compiling the information. Many people to not read or subscribe to the Huffington Post and could find this book invaluable. In addition, would suggest that Mr. Learsy consider putting all of this information into a "book format" that may compete with (or complement) the books by Daniel Yergin.