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Page added on August 8, 2015
Seven Books You Must Read If You Want to Understand Oil
Here is some light reading on light crude with a tilt to history, science, and talking your way out of a business meeting on various and sundry hydrocarbons. Read 1,000 pages, and you too can catch the commodity knife in the dark.
What is sick is how this Daniel Yergin required read has stood the test of time. There are two groups of people: those who bought The Prize, and those who read it. Be sure you drill down and read this classic cover to cover.
I was prepared to be disappointed. How could Daniel Yergin possibly approach the excellence of The Prize? He did. The Quest is wonderfully current and readable, proving once and for all that Yergin is our best economic writer. Speaking of current, Henry Kissinger’s World Order touches nicely on our new Oil Order.
A must-read for the UAE set. Professor Davidson follows up his controversial book Dubai with this effort. The lesson: Abu Dhabi is not Dubai.
A cardinal reality of “oil” is that the terminology and science are daunting. Petromen from the Colorado School of Mines reach for a cold Coors when they must get marginally smarter. Here is the trade secret: Any and all reach for “Leffler.” William L. Leffler in every way owns the making-oil-simple franchise. He has Big Oil cred and gets massive points for making you smarter faster upstream and downstream.
The is the second book I read on economics. (The first was vintage Galbraith.) Ida Tarbell changed America. This book should be read on oil, but far more, as a window into another time and place (1904).
I once had a TV executive inform me that “dentists are dumb.” They’re not, and start with the collegiate path known as the “chemistry track.” Oil is about inorganic chemistry, and the great divide is those with a clue and those who are clueless. Exit clueless and read this tome. Then reread it. (Then you can discuss methyl ethyl ketone with Daniel Yergin.)
Bonus round:
Speaking of Dr. Yergin, much of the capitalistic world begs him to freshen up his classic The Commanding Heights. When he was writing it, Brazil was imploding. Wait: Brazil is imploding, again. One of my three must-reads.
8 Comments on "Seven Books You Must Read If You Want to Understand Oil"
steve on Sat, 8th Aug 2015 12:29 pm
“much of the capitalistic world begs him to freshen up his classic The Commanding Heights. ” Hah! that gave me a laugh out loud moment! “Yes you too can have a volume of the classics sent to your door for just $19.99 a month plus shipping and handling!!!!!” funny read….
apneaman on Sat, 8th Aug 2015 12:32 pm
The Game of Chicken Behind Low Oil Prices
U.S. shale-oil production is high, but Saudi Arabia, betting it can withstand losses better than its new rival, is pumping more crude.
http://www.theatlantic.com/business/archive/2015/08/low-oil-prices/400745/
Nony on Sat, 8th Aug 2015 12:57 pm
Why INorganic chemistry?
Nony on Sat, 8th Aug 2015 1:06 pm
Agree with The Prize, but The Quest was a little duller. (Still worthwhile if you are a blogger or the like. Need to know background of Putin’s nationalizations, Venezuela history, Caspian Sea oil problems, etc. But not as fun a read as The Prize.)
Leffler is good stuff. Recommend his book on refining as well.
most people here could do with reading a good, friendly, math-lite book on basic econ, finance, and valuations. I personally really like Breeley and Myers, but some people are intimidated by it. But there is probably some text on engineering econ or the like. Doesn’t need to be E&P slanted because you tend not to learn basics first. [Like the guy said about dummies chem book…yes I am serious.]
Makati1 on Sat, 8th Aug 2015 9:36 pm
Yergin… LMAO!!!
apneaman on Sat, 8th Aug 2015 10:00 pm
30 blue herons found dead at Syncrude Mildred Lake site
Bird deaths occurred at site north of Fort McMurray, Alta.
http://www.cbc.ca/news/canada/edmonton/30-blue-herons-found-dead-at-syncrude-mildred-lake-site-1.3184410
meld on Sun, 9th Aug 2015 1:11 am
Yergin? inorganic chemistry? WTF?
go back to school peakoil.com
Apneaman on Mon, 10th Aug 2015 10:20 pm
Texas man left permanently disabled from burns after fracking causes water well to explode: suit
“At the flip of the switch, Cody heard a ‘whooshing’ sound, which he instantly recognized from his work in the oil and gas industry, and instinctively picked his father up and physically threw him back and away from the entryway to the pump house,” the complaint states.
“In that instant, a giant fireball erupted from the pump house, burning Cody and Jim, who were at the entrance to the pump house, as well as [Cody’s wife] Ashley and [daughter] A.M., who were approximately 20 feet away.”
http://www.rawstory.com/2015/08/texas-man-left-permanently-disabled-from-burns-after-fracking-causes-water-well-to-explode-suit/