|
|
||
 |
|
|
|
|
||
|
|
||
|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
BOOK REVIEW Black Gold: The New Frontier in Oil for Investors by George Orwel Wiley - June 2006
Reviewed by Dr. Jonathan Dolhenty First, a disclaimer. I no longer have financial investments in the stock or bond markets so I do not keep up to date on the details of their activities, although I do check the ups and downs of the Dow, NASDAQ, and the S & P on a daily basis. While George Orwel's Black Gold should appeal to active investors, particularly to those involved in or considering the oil and natural gas markets, it's primary appeal to me was the background the author supplies in Parts One and Part Two of his book regarding the oil industry in general, especially its past development, its current status, and its probable future. 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. 
Order at Amazon.com Black Gold: The New Frontier in Oil for Investors, by George Orwel Order at Powell's Books Black Gold: The New Frontier in Oil for Investors, by George Orwel |
|
|
|
|
|
Enrich Your Life With a Philosophy Book... |
|
|
|
|
|
|
||
|
|
||
[Homepage] [Newsletter] [Search] [Support the Academy] [Link to Us] [Contact the Academy] [Citing Articles from Our Website] [Privacy Policy & Disclaimer]
Copyright 1998-99, 2000-01, 2002-03, 2004-05, & 2006 by The Radical Academy. All Rights Reserved.