Read e-book online Black Gold: The New Frontier in Oil for Investors PDF

By George Orwel

ISBN-10: 0471792683

ISBN-13: 9780471792680

I loved Mr. Orwel's publication "Black Gold." It used to be effortless to learn and it had a number of issues within the booklet that i did not understand. Like President Clinton's Iraq Liberation Act of 1998, which acknowledged that, "It will probably be the coverage of the USA to help efforts to take away the regime headed through Saddam Hussein from strength in Iraq." This booklet is gentle interpreting. do not look forward to finding loads of deep suggestion. it truly is similar to a protracted newspaper article. i do not remorse i purchased the ebook. Regards, Keith Renick, Saudi Aramco Oil Co. Retired

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Read Online or Download Black Gold: The New Frontier in Oil for Investors PDF

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Extra resources for Black Gold: The New Frontier in Oil for Investors

Example text

Most economists think somewhere in 2035 to 2045 is the likely time for the oil peak. My estimate is about 2015 to 2020, which I got by simply calculating the midpoint of the predictions by geologists and economists. J. Campbell, June 2004. newable energy. As the cost of conventional fuels continues to rise, more attention will inevitably be paid to alternative forms of energy, all of which currently suffer from a combination of economic and technical drawbacks. Fossil fuels account for approximately 89 percent of world energy consumption, nuclear and hydroelectric account for about 10 percent, with wind, solar, and biomass accounting for about 1 percent.

16 One of the reasons this debate has become more intense is the fact that oil prices are high, which is a warning sign of what is to come, and it won’t be pretty. Prices will rise dramatically and become increasingly volatile. And with little or no excess production capacity, minor supply disruptions—political instability in Venezuela, hurricanes in the Gulf of Mexico or labor unrest in Nigeria, for example—will send the oil markets into a panic buying and the prices will shoot into the stratosphere.

This is still speculative and things might turn out differently, including development of new technologies that would make life a little easier, but it’s going to a huge problem. It’s safe to say that the general progression of events points to a scary future. In the last two years we have already seen a preview of this movie, in the form of oil supply not being able to keep up with demand. The result has been high fuel prices and a dent in the economy and in consumer confidence. It’s important to remember that current high fuel costs aren’t bad compared to what we should expect in the future.

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Black Gold: The New Frontier in Oil for Investors by George Orwel

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