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Oil Panic and the Global Crisis: Predictions and Myths
 
 
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Oil Panic and the Global Crisis: Predictions and Myths [Hardcover]

Steven M. Gorelick (Author)
5.0 out of 5 stars  See all reviews (6 customer reviews)

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Book Description

1405195487 978-1405195485 December 8, 2009 1
Is the world running out of oil? This book analyzes predictions of global oil depletion in the context of science, history, and economics.

There has been continuing alarm about the imminent exhaustion of earth's non-renewable resources. Yet, the world has never run out of any significant, globally traded, non-renewable resource. Is the world finally facing a non-renewable resource depletion catastrophe, or is the current concern just another one of a succession of panics? In this book, key assumptions and underlying arguments in the global oil-depletion debate are first summarized and then challenged. Facts about oil supply, production, and consumption are made accessible using concise and simple graphics.

Concepts of resource depletion, end-use needs, technology leap-frogging, efficiency, and substitution are used to evaluate historical patterns of exploitation of non-renewable resources and to explore what history suggests about our future dependence on oil.

This book is aimed at a broad range of readers,from undergraduate students studying resource science and economics to anyone interested in understanding the context of the controversy over global oil depletion.

"It is a book serious students of the world oil market should read, not because Gorelick has all the answers but because his account is well reasoned, well informed, and argued honestly, with respect for responsible opposing viewpoints."
Book Review, Science, May 2010


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Editorial Reviews

Review

"He writes so from a position of strength having spent years analysing industry data and I find it difficult not to be swayed by the force of his honest arguments." (Oilholics Synonymous Report, September 2010)

It is a book serious students of the world oil market should read, not because Gorelick has all the answers but because his account is well reasoned, well informed, and argued honestly, with respect for responsible opposing viewpoints." (David Lloyd Greene, Science, May 2010) 

"The book is a refreshing and methodical expose´ of the most common myths about oil that many of us hold as truths. Gorelick weaves an intriguing story from what might have been a dreadfully boring, yet impressive collection of data and observations. It was a pleasure to read and learn from this book, which I highly recommend to experts and  non-experts alike, particularly our leaders in government." (Kenneth E. Peters, Geofluids, 2010)

"In all my years as a journalist who has written on oil and  follows the crude markets closely, I feel this book is the most engaging, detailed and well written one that I have come across in its genre. I am happy to recommend it to commodities professionals, economists, students and just about anyone interested in reading up on the oil depletion debate." (Gaurav Sharma, Infrastructure Journal 2010)

"Professor Gorelick’s book is a valuable contribution to the debate about peak oil and could profitably be read by anybody requiring a pathway through the economic and political smokescreens which have grown up around the topic." (Geo Expro, September 2010)

Review

"The book is a refreshing and methodical expose´ of the most common myths about oil that many of us hold as truths. Gorelick weaves an intriguing story from what might have been a dreadfully boring, yet impressive collection of data and observations. It was a pleasure to read and learn from this book, which I highly recommend to experts and  non-experts alike, particularly our leaders in government."

Kenneth E. Peters, Geofluids, 2010

"It is a book serious students of the world oil market should read, not because Gorelick has all the answers but because his account is well reasoned, well informed, and argued honestly, with respect for responsible opposing viewpoints."

David Lloyd Greene, Science, May 2010

"This is a wonderful book, not only full of information, but with the clear stamp of the patient teacher who above all wants his reader to understand.  I hope it makes its way into the halls of Congress."

Garrison Sposito, Professor, Betty and Isaac Barshad Chair, Environmental Science, UC Berkeley

"Are we running out of oil or do we have plenty of this resource? Will
the oil age end before we run out of oil? Have we reached the maximum
daily production rate of oil or are we already on the down slide?
Professor Gorelick has compiled the necessary data and provided his own
incisive analysis to assist the reader in understanding the complex
issues related to the supply and demand hydrocarbons. A must read for an understanding of both the domestic and global energy picture."
Professor Khalid Aziz, Department of Energy Resources Engineering at Stanford

"The dynamics around oil have shaped our lives for many decades and will do so for many decades to come. Surprisingly, many misconceptions exist around the extent and availability of this fundamental resource. This
book is a lucid compilation of facts which is a must-read for anyone
interested in energy and the environment."
Ashok Belani, Chief Technology Officer of Schlumberger Limited

 ”It is a pleasure to read an informed, balanced, and lively account of the prospect of meeting the world's need for oil in coming years. A combination of sound economics, attention to history's lessons, and political leadership offer the way forward. Read this book and decide what you should do."
John Deutch, Institute Professor, Massachusetts Institute of Technology, former Director of Central Intelligence.

“A very readable statistical history of global oil depletion that frames and illuminates the century-old debate about “peak oil” or the “end of oil.” A suitable text for introductory resource economics or for the general reader with a love for facts and detail.”
Sylvio J Faim, Los Alamos National Laboratory


Product Details

  • Hardcover: 256 pages
  • Publisher: Wiley-Blackwell; 1 edition (December 8, 2009)
  • Language: English
  • ISBN-10: 1405195487
  • ISBN-13: 978-1405195485
  • Product Dimensions: 9.8 x 6.8 x 0.7 inches
  • Shipping Weight: 1.6 pounds (View shipping rates and policies)
  • Average Customer Review: 5.0 out of 5 stars  See all reviews (6 customer reviews)
  • Amazon Best Sellers Rank: #899,853 in Books (See Top 100 in Books)

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Customer Reviews

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Average Customer Review
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1 of 1 people found the following review helpful:
5.0 out of 5 stars Fresh Perspective on the Global Oil Crisis, January 11, 2010
This review is from: Oil Panic and the Global Crisis: Predictions and Myths (Hardcover)
This book offers a fresh perspective on the global oil crisis, and uses facts and clear illustrations to counter much of the common wisdom and myths about oil depletion. For example, Hubbert's famous prediction of when oil production will peak is widely thought to have been incredibly accurate; Gorelick explains why this is not the case. The book's prose is clear, well-written, and easy to read, while simultaneously educating and enlightening the reader.
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5 of 7 people found the following review helpful:
5.0 out of 5 stars A refreshingly thoughtful look at the abundance of fossil fuel resources, January 4, 2010
By 
A. Carroll (Madison, WI USA) - See all my reviews
(REAL NAME)   
This review is from: Oil Panic and the Global Crisis: Predictions and Myths (Hardcover)
In contrast to previous works that have focused on advocating a particular position with respect to the "peak oil" debate, this book carefully and rigorously examines arguments on both sides of the question. From this analysis it becomes apparent that the peak oil argument in its simple form doesn't stand up to close scrutiny. It is important to note that Gorelick is by no means claiming that oil supplies are infinite. Rather, he points out that the ultimate size of these resources is poorly known, but much larger than the conservative estimates preferred by peak oil advocates. This is due in part to an historic tendency to consistently underestimate true resource size, and in part to continuous development of new extraction technologies. Gorelick also points out that past oil production rates are principally a record of consumer demand, rather than of resource availability.

The book is clearly written, well-organized, and extensively referenced. It is well suited to use as a textbook, but also an interesting read for anyone wanting to learn more about this subject.
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4 of 6 people found the following review helpful:
5.0 out of 5 stars New York Post review / A levelheaded perspective on oil panic, January 9, 2010
This review is from: Oil Panic and the Global Crisis: Predictions and Myths (Hardcover)
Why do we pay so much at the pump? What are the true cornerstones of the oil crisis? Are we fighting for a resource that's nearly tapped or for control of a product still flowing freely? Steven Gorelick's approach to these timely and pressing questions is nothing less than refreshing. Not for reasons of false optimism or of stoking fires, but for his levelheaded approach, showing the best research from both sides of the debate on how quickly we absolutely need to grow out of our oil dependency as a planet. The answers, also refreshing, often illustrate that we just might get past the oil jones before our supply runs dry.

After reading a few of the sample pages of Oil Panic and the Global Crisis here on Amazon.com, I was drawn into the concise, thoughtful writing of Gorelick and to the clear statistical illustrations (i.e. the many charts and graphs peppering his work), which rather than bog down the layperson's appreciation of the flow of information, supplemented it and drove its points home. I immediately wanted to review the book for The New York Post, where I am a freelance writer. The review was printed in the December 6, 2009 edition of the Sunday Post, and can be viewed online here: [...]

Highly recommended for students, professors, and anyone interested in the ins and outs of the state of global oil supply.
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