- Hardcover: 224 pages
- Publisher: Wiley; 1 edition (June 5, 2006)
- Language: English
- ISBN-10: 0471792683
- ISBN-13: 978-0471792680
- Product Dimensions: 6.4 x 0.8 x 9.3 inches
- Shipping Weight: 13.6 ounces (View shipping rates and policies)
- Average Customer Review: 3.3 out of 5 stars See all reviews (8 customer reviews)
- Amazon Best Sellers Rank: #7,795,914 in Books (See Top 100 in Books)
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Black Gold: The New Frontier in Oil for Investors 1st Edition
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"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 worldand 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 produceversus what they actually can producewill rock future markets
- Detailed charts and graphs on why the best time to invest in oil-related investments is NOWand 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 marketplaceand your role as an investor in that marketplace.
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Top Customer Reviews
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. Perhaps these investment ideas are good, but they are also much more volatile for the average investor. Also, the book doesn't discuss specific companies in the field of alternative and renewable energy, which is also drawing increased investment.
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." Orwel offers an insider's view of Saudi Arabia and other countries in the Middle East, including a discussion how much trust can be placed in what these oil-producing countries say they can produce versus the reality of what they actually can produce. Orwel here provides essential information for the regular oil consumer, but especially important information for the potential investor.
As I have already mentioned, these were the two parts which most interested me and I think will be of interest to most general readers. Part Three, on the other hand, tends to be rather technical but will appeal to anyone involved currently in the financial markets or considering investments in the oil industry. Orwel provides much detailed data about the ins and outs and ups and downs of the oil market, more than I could internalize during just a general reading of the material. There are detailed charts and graphs which are used to argue that now may be the best time to invest in the oil industry and how to discover the most profitable opportunities. Investors will probably love all the figures and analyses he provides, while the casual reader may ignore them without any loss of content important to the ordinary consumer.
However, what I have said about Part Three of the book (that its main appeal will be with actual or potential investors) does have one exception. The first chapter of Part Three -- "Why and How Oil Prices Soared" -- may be of interest to the general reader but, again, it is a very detailed discussion and may require one (as it did me) to slow down a bit and even go over the material again. For those with the time and interest, however, Orwel's discussion of the topic is definitely worth the effort. He certainly provides an important explanation for the recent surge in oil prices which goes far beyond that provided to the ordinary consumer by the national news and the political pundits.
Generally, then, "Black Gold" can be read on two levels. First, Orwel offers the general reader an interesting and understandable discussion of the historical development of the oil industry, an analysis of past oil crises and the current issues which are impacting us now, and a look into the possible future surrounding oil exploration and production. Second, Orwel offers the investment community an in-depth analysis regarding the issues of supply and demand, provides a guide to the opportunities available to those currently holding oil investments and to those seeking to profit from investments in the oil industry, and discusses various types of investments from mutual funds to exchange-traded funds (ETFs), from SPACs, STARTs and hedge funds to superfunds and private equity.
The author certainly has impressive credentials. He is an oil analyst and writer for both the "Oil Daily" and "Petroleum Intelligence Weekly," with six years spent as a reporter on the oil market for "Dow Jones Newswires." He has also appeared many times on major news outlets such as CNN and National Public Radio. Orwell's book concludes with a section on "Fuel Facts" and a feature entitled "Some Questions to Test Your Energy Knowledge." It also includes a bibliography with notes and a comprehensive index. In conclusion, "Black Gold" is both practical and informative and an excellent read for both the general consumer and the interested investor.
Most Recent Customer Reviews
The grammar is loose, the material is repetitious, there is no sense of...Read more