{"product_id":"investing-in-energy-a-primer-on-the-economics-of-the-energy-industry-hardback-9781576603758","title":"Investing in Energy; A Primer on the Economics of the Energy Industry (Hardback) 9781576603758","description":"\u003cfont face=\"Georgia\"\u003e\r\n\u003cp\u003e\u003cfont size=\"6\"\u003eInvesting in Energy\u003c\/font\u003e\u003cbr\u003e\r\n\u003cfont size=\"5\"\u003eA Primer on the Economics of the Energy Industry\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\r\n\r\n\u003cp\u003e\u003cfont size=\"4\"\u003eGianna Bern (Author)\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e9781576603758, Wiley\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eHardback, published 17 June 2011\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e240 pages\u003cbr\u003e23.6 x 16.3 x 2.3 cm, 0.463 kg\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\r\n\r\n\r\n\u003cp align=\"justify\"\u003e\u003cstrong\u003e\u003cfont size=\"3\"\u003e\u003cb\u003eAn energy industry researcher and investment advisor provides a fresh perspective on the economics of energy\u003c\/b\u003e \u003cp\u003eFrom major players in the energy industry, such as big oil, to the emerging cap-and-trade market, no other book offers a more complete overview of the energy industry, specifically its economic and financial intricacies, than \u003ci\u003eInvesting in Energy: A Primer on the Economics of the Energy Industry\u003c\/i\u003e.\u003c\/p\u003e \u003cul\u003e \u003cli\u003eDetails how to value and invest in the four big energy sectors: oil, gas, power, and green\u003c\/li\u003e \u003cli\u003eDescribes key financial considerations for the energy sectors, including credit metrics, the importance of liquidity, cash flow, and capital expenditures\u003c\/li\u003e \u003cli\u003eFrom Bloomberg, a leading provider of the most up-to-date business news and financial data\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eA comprehensive guide to the economics of the energy industry, \u003ci\u003eInvesting in Energy\u003c\/i\u003e will prove an invaluable resource for traditional energy investors looking to expand into new areas, as well as for eco-investors looking to better understand how energy markets function.\u003c\/p\u003e\u003c\/font\u003e\u003c\/strong\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e\u003cp\u003ePreface xiii\u003c\/p\u003e \u003cp\u003eAcknowledgments xv\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart I: Introduction and Financial Considerations\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1 Historical Perspectives 3\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eOil and Gas Producers 4\u003c\/p\u003e \u003cp\u003eProduction Perspectives 5\u003c\/p\u003e \u003cp\u003eImportance of Reserves 6\u003c\/p\u003e \u003cp\u003eRegulatory Environment 7\u003c\/p\u003e \u003cp\u003eAlternative Energy Forms 8\u003c\/p\u003e \u003cp\u003eAlternative Energy Growth 8\u003c\/p\u003e \u003cp\u003eEnergy Investment Cost Considerations 12\u003c\/p\u003e \u003cp\u003eConcluding Thoughts 12\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2 Investment Opportunities in Energy 15\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eAsia Comes of Age 15\u003c\/p\u003e \u003cp\u003eAustralia’s Natural Gas Boom 16\u003c\/p\u003e \u003cp\u003eBrazil Beckons with Deepwater 17\u003c\/p\u003e \u003cp\u003eIraq’s Road to Recovery 20\u003c\/p\u003e \u003cp\u003eNorth American Unconventional Natural Gas Plays 23\u003c\/p\u003e \u003cp\u003eSolar Power Generation 24\u003c\/p\u003e \u003cp\u003eConcluding Thoughts 24\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3 Cash Flow and Liquidity at Various Crude Prices 27\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIndependent Oil Companies 27\u003c\/p\u003e \u003cp\u003eNational Oil Companies 28\u003c\/p\u003e \u003cp\u003eCapital Expenditure Planning 29\u003c\/p\u003e \u003cp\u003eLiquidity—Cash Is Still King 31\u003c\/p\u003e \u003cp\u003eLiquidity Metrics 32\u003c\/p\u003e \u003cp\u003eCash-Flow Considerations 32\u003c\/p\u003e \u003cp\u003eCash-Flow Metrics 33\u003c\/p\u003e \u003cp\u003eLeverage 33\u003c\/p\u003e \u003cp\u003eConcluding Thoughts 34\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4 Capital Structure and Capital Markets 37\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eCapital Structure 37\u003c\/p\u003e \u003cp\u003eInvestors 39\u003c\/p\u003e \u003cp\u003eAlternative Energy Subsidies 42\u003c\/p\u003e \u003cp\u003eConcluding Thoughts 43\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5 The Quarterly Earnings Disconnect 45\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eShort Term versus Long Term 45\u003c\/p\u003e \u003cp\u003eBusiness Risks 49\u003c\/p\u003e \u003cp\u003eConcluding Thoughts 50\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart II: Crude Oil and Natural Gas\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6 Analyzing Reserves 53\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eAuthorities on Reserves 53\u003c\/p\u003e \u003cp\u003eProven Reserves 54\u003c\/p\u003e \u003cp\u003eIndustry Nomenclature 54\u003c\/p\u003e \u003cp\u003eProven Reserve Criterion 55\u003c\/p\u003e \u003cp\u003eUnproven Reserves 57\u003c\/p\u003e \u003cp\u003eCertification Process 58\u003c\/p\u003e \u003cp\u003eMore on Reserve Authorities 59\u003c\/p\u003e \u003cp\u003eMeasuring Reserves 61\u003c\/p\u003e \u003cp\u003eConcluding Thoughts 63\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7 Crude Oil Markets and Production 65\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Crude Oil Markets 65\u003c\/p\u003e \u003cp\u003eBenchmark Crudes 65\u003c\/p\u003e \u003cp\u003eInventory Levels 67\u003c\/p\u003e \u003cp\u003eCrude Oil Quality 67\u003c\/p\u003e \u003cp\u003eCrude Oil Markets 68\u003c\/p\u003e \u003cp\u003eConcluding Thoughts 74\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 8 Natural Gas Markets and Production 75\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eDe-Coupling of Natural Gas from Crude Oil 75\u003c\/p\u003e \u003cp\u003eConventional Natural Gas Production 76\u003c\/p\u003e \u003cp\u003eNorth American Unconventional Natural Gas Shale Plays 77\u003c\/p\u003e \u003cp\u003eCanadian Natural Gas Markets 78\u003c\/p\u003e \u003cp\u003eNatural Gas Markets 79\u003c\/p\u003e \u003cp\u003eLNG—Fuel for the Future 81\u003c\/p\u003e \u003cp\u003eNatural Gas Storage 81\u003c\/p\u003e \u003cp\u003eNatural Gas as a Utility 82\u003c\/p\u003e \u003cp\u003eNatural Gas—The Cleaner Fuel 82\u003c\/p\u003e \u003cp\u003eConcluding Thoughts 83\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 9 Understanding Refining Economics 85\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Business Model 85\u003c\/p\u003e \u003cp\u003eChallenge for Independent Refiners 86\u003c\/p\u003e \u003cp\u003ePhysical Crude Oil Trading 86\u003c\/p\u003e \u003cp\u003eRefining Capacity, Complexity, and Utilization 87\u003c\/p\u003e \u003cp\u003eBenchmark Crude Oils 90\u003c\/p\u003e \u003cp\u003eCrack Spreads 90\u003c\/p\u003e \u003cp\u003eThe Challenge 93\u003c\/p\u003e \u003cp\u003eConcluding Thoughts 94\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 10 Integrated Majors and the Evolution of the Competitive Landscape 95\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eRole of National Oil Companies 95\u003c\/p\u003e \u003cp\u003eThe Road Ahead for Integrated Majors 97\u003c\/p\u003e \u003cp\u003eU.S. Safety and Regulation 97\u003c\/p\u003e \u003cp\u003eUK Environmental Program 98\u003c\/p\u003e \u003cp\u003eTechnological Challenges Abound 99\u003c\/p\u003e \u003cp\u003eReserve Changes 101\u003c\/p\u003e \u003cp\u003eConcluding Thoughts 102\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 11 The Oilfield Service Sector and Oil Juniors 103\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe World Is Their Platform 103\u003c\/p\u003e \u003cp\u003eOil Juniors: Is Smaller Better? 106\u003c\/p\u003e \u003cp\u003eConcluding Thoughts 110\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 12 OPEC 111\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eOPEC Organization 111\u003c\/p\u003e \u003cp\u003eOPEC Crude Basket 112\u003c\/p\u003e \u003cp\u003eOPEC Crude Production 112\u003c\/p\u003e \u003cp\u003eOPEC’s Role during the Financial Crisis 2008 to 2009 113\u003c\/p\u003e \u003cp\u003eSaudi Arabia’s Role in OPEC 115\u003c\/p\u003e \u003cp\u003eOPEC versus Non-OPEC Reserves 116\u003c\/p\u003e \u003cp\u003eGeopolitics of Crude 117\u003c\/p\u003e \u003cp\u003eNationalization of Assets 117\u003c\/p\u003e \u003cp\u003eConcluding Thoughts 118\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 13 Bidding and Production Rights 119\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eBrazil 119\u003c\/p\u003e \u003cp\u003eMexico 121\u003c\/p\u003e \u003cp\u003eNorway 123\u003c\/p\u003e \u003cp\u003eThe United Kingdom 124\u003c\/p\u003e \u003cp\u003eVenezuela 125\u003c\/p\u003e \u003cp\u003eConcluding Thoughts 126\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 14 Analyzing State-Owned Oil Companies 127\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eHydrocarbons, a Source of Revenue 127\u003c\/p\u003e \u003cp\u003eRegulatory Frameworks 128\u003c\/p\u003e \u003cp\u003eConcessions and Bid Rounds 129\u003c\/p\u003e \u003cp\u003eTaxes and Royalties 129\u003c\/p\u003e \u003cp\u003ePensions and Legacy Support 129\u003c\/p\u003e \u003cp\u003eTransparency 130\u003c\/p\u003e \u003cp\u003eSocial Programs 130\u003c\/p\u003e \u003cp\u003eCapital Markets 131\u003c\/p\u003e \u003cp\u003eMexico’s PEMEX 131\u003c\/p\u003e \u003cp\u003eOwnership Structure 132\u003c\/p\u003e \u003cp\u003eHybrid-Capital Companies 132\u003c\/p\u003e \u003cp\u003eConcluding Thoughts 136\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 15 Crude Oil Pricing and Industry Investment 137\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eHigher Crude Prices Impact Demand 137\u003c\/p\u003e \u003cp\u003eGlobal Oil Imbalance 138\u003c\/p\u003e \u003cp\u003eUnprecedented Financial Crises 139\u003c\/p\u003e \u003cp\u003eGreat Commodity Collapse of 2009 140\u003c\/p\u003e \u003cp\u003eLeverage Creep 141\u003c\/p\u003e \u003cp\u003eImproved Market Fundamentals 142\u003c\/p\u003e \u003cp\u003eInvestment Outlook 142\u003c\/p\u003e \u003cp\u003eConcluding Thoughts 143\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart III: The Power Sector\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 16 Hydroelectric Power 147\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eAdvantages 148\u003c\/p\u003e \u003cp\u003eDisadvantages 149\u003c\/p\u003e \u003cp\u003eChina 150\u003c\/p\u003e \u003cp\u003eBrazil and Paraguay 151\u003c\/p\u003e \u003cp\u003eConcluding Thoughts 152\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 17 Nuclear Quagmire 153\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Issue: Nuclear Waste 153\u003c\/p\u003e \u003cp\u003eThe Benefits 154\u003c\/p\u003e \u003cp\u003eNuclear Power in the United States 154\u003c\/p\u003e \u003cp\u003eThe Future of Nuclear Energy 156\u003c\/p\u003e \u003cp\u003eNuclear Energy in France 157\u003c\/p\u003e \u003cp\u003eConcluding Thoughts 159\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 18 Geothermal and Wind Energy 161\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eUnited States 162\u003c\/p\u003e \u003cp\u003ePhilippines 162\u003c\/p\u003e \u003cp\u003eWind Generation Energy 163\u003c\/p\u003e \u003cp\u003eDenmark 164\u003c\/p\u003e \u003cp\u003eUnited Kingdom 165\u003c\/p\u003e \u003cp\u003eConcluding Thoughts 165\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 19 Solar Energy 167\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eTypes of Solar Energy 167\u003c\/p\u003e \u003cp\u003eSpain 168\u003c\/p\u003e \u003cp\u003eGermany 170\u003c\/p\u003e \u003cp\u003eConcluding Thoughts 171\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart IV: Green Energy Chapter 20\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eBiofuels and Ethanol 175\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eBiofuels Development 175\u003c\/p\u003e \u003cp\u003eEthanol Development 177\u003c\/p\u003e \u003cp\u003eConcluding Thoughts 182\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 21 Cleaner Coal 183\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eCoal as a Fuel Source 183\u003c\/p\u003e \u003cp\u003eCleaner Coal 186\u003c\/p\u003e \u003cp\u003eConcluding Thoughts 189\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart V: Summary and Conclusion\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 22 Opportunities and Challenges in Green and Traditional Energies 193\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eRenewable Energy 193\u003c\/p\u003e \u003cp\u003eCap and Trade 195\u003c\/p\u003e \u003cp\u003eNatural Gas Opportunities 196\u003c\/p\u003e \u003cp\u003eOffshore Drilling Challenges 197\u003c\/p\u003e \u003cp\u003eConcluding Thoughts: Energy Independence—A Strategic Imperative 197\u003c\/p\u003e \u003cp\u003eAppendix: Energy Equivalent Conversions 199\u003c\/p\u003e \u003cp\u003eGlossary 201\u003c\/p\u003e \u003cp\u003eAbout the Author 205\u003c\/p\u003e \u003cp\u003eIndex 207\u003c\/p\u003e\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eSubject Areas: Finance \u0026amp; accounting [\u003ca title=\"See our other books on Finance \u0026amp; accounting\" href=\"https:\/\/freshlyprintedbooks.co.uk\/search?q=%22Finance%20\u0026amp;%20accounting%20%5BKF%5D%22\"\u003eKF\u003c\/a\u003e]\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\u003c\/font\u003e","brand":"Bloomberg Press","offers":[{"title":"Brand New","offer_id":52173726286104,"sku":"9781576603758","price":32.88,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0730\/2037\/5320\/files\/9781576603758_249709.jpg?v=1781168478","url":"https:\/\/freshlyprintedbooks.co.uk\/products\/investing-in-energy-a-primer-on-the-economics-of-the-energy-industry-hardback-9781576603758","provider":"Freshly Printed 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