The Age of Oil: The Mythology, History, and Future of the World's Most Controversial Resource

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Globe Pequot, 2007 - Technology & Engineering - 354 pages
2 Reviews
Oil is the most vital resource of our time. Because it is so important, misperceptions about the black gold abound. Leonardo Maugeri clears the cobwebs by describing the colorful history of oil, and explaining the fundamentals of oil production. He delivers a unique, fascinating, and controversial perspective on the industry--as only an insider could. The history of the oil market has been marked, since its inception, by a succession of booms and busts, each one leading to a similar psychological climax and flawed political decisions. In a single generation, we've experienced the energy crisis of 1973; the dramatic oil countershock of 1986; the oil collapse of 1998-99 that gave rise to the idea of oil as "just another commodity; " and the sharp price increases following hurricane Katrina's devastation in the Gulf of Mexico. Today, we are experiencing a global oil boom that, paradoxically, seems to herald a gloomy era of scarcity exacerbated by growing consumption and the threat from Islamic terrorism in the oil-rich Middle East. Maugeri argues that the pessimists are wrong. In the second part of his book, he debunks the main myths surrounding oil in our times, addressing whether we are indeed running out of oil, and the real impact of Islamic radicalism on oil-rich regions. By translating many of the technical concepts of oil productions into terms the average reader can easily grasp, Maugeri answers our questions. Ultimately, he concludes that the wolf is not at the door. We are facing neither a problem of oil scarcity, nor an upcoming oil blackmail by forces hostile to the West. Only bad political decisions driven by a distorted view of current problems (and who is to blame for them)can doom us to a gloomy oil future.
  

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Review: The Age of Oil: The Mythology, History, and Future of the World's Most Controversial Resource

User Review  - Zed - Goodreads

An excellent review of the history of oil and the factors which play a role in the past, present and future. Read full review

Contents

John D Rockefellers Cursed Legacy
3
The Age of Gasoline and Oil Imperialism
19
The Carveup of Arabias Oil
33
The Oil Glut of the 1930s
41
Cold War Fears and the U S Arabian Link
51
The Iran Tragedy and the Seven Sisters Cartel
63
The Golden Age of Oil and Its Limits
77
Oil and the Explosion of Arab Nationalism
93
The First Oil Crisis of the Twentyfirst Century
183
Are We Running Out of Oil?
201
The Inner Secrets of Oil
207
The Puzzle of Oil Reserves and Production and
219
The Problems with Oil Quality Price
233
Flawed Forecasts Foggy Alternatives to Oil
247
Arabs Islam and the Myth of Oil Security
259
The Long Wave of Resource Nationalism
271

The First Oil Shock
103
The Second Oil Shock
121
The Countershock
133
The First Gulf Crisis
145
The Soviet Implosion and the Troubled Caspian El Dorado
155
The Collapse of Oil Prices and Industry Megamergers
169
Proven Reserves Production and Reserves Life
285
Notes
291
Bibliography
325
Index
337
Copyright

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About the author (2007)

Leonardo Maugeri is Group Senior Vice President, Stratgeies and Development, for the Italian energy company Eni, the sixth-largest publicly listed oil company in the world.

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