The age of oil : the mythology, history, and future of the world's most controversial resource

by Maugeri, Leonardo, 1964-

Format: Print Book 2006
Availability: Available at 2 Libraries 2 of 2 copies
Available (2)
Location Collection Call #
CLP - Main Library Second Floor - Non-fiction TN870.M339 2006
Location  CLP - Main Library
 
Collection  Second Floor - Non-fiction
 
Call Number  TN870.M339 2006
 
 
Mt. Lebanon Public Library Non-Fiction 338.27282 M37
Location  Mt. Lebanon Public Library
 
Collection  Non-Fiction
 
Call Number  338.27282 M37
 
 
Summary

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.

Contents
John D. Rockefeller's cursed legacy
The age of gasoline and oil imperialism
The carve-up of Arabia's oil
The oil glut of the 1930s
Cold War fears and the U.S.-Arabian link
The Iran tragedy and the "seven sisters" cartel
The golden age of oil and its limits
Oil and the explosion of Arab nationalism
The first oil shock
The second oil shock
The countershock
A storm in the desert : the first gulf crisis
The Soviet implosion and the troubled Caspian El Dorado
The collapse of oil prices and industry megamergers
The first oil crisis of the twenty-first century
Are we running out of oil?
The inner secrets of oil
The puzzle of oil reserves and production, and the quest for their control
The problems with oil quality, price, and consumption trends
Flawed forecasts, foggy alternatives to oil
Arabs, Islam, and the myth of oil security
Appendixes. 1. Proven reserves, production, and reserves life index of the first twenty oil countries in the world and world totals (2004) ; 2. Consumption trends of the first twenty countries in the world (1980-2004) ; 3. Main features of some qualities of crude oil ; 4. The largest national oil companies ; 5. The largest international oil companies.

Published Reviews
Booklist Review: "Sixty years ago, a British diplomat was questioned about the morality of his government's policies in the Middle East. The world, he responded, runs on oil, not on quaint notions of right or wrong. With the soaring price of oil now threatening to spur a dreaded inflationary cycle here and abroad, those words certainly resonate. There is understandable anxiety, even hysteria, regarding the future cost and availability of this vital resource. Maugeri has attempted to explain to lay readers how the oil industry developed, how it works, and where it is headed. The history of oil, Maugeri illustrates, has always been characterized by cycles of booms and busts, but they are caused by market factors, not malevolent conspiracies. The present danger, he claims, is that panicky or ambitious politicians will make current problems far worse. Maugeri minimizes the threat of blackmail by oil--producing nations, and he dismisses fears that the world is running out of oil. Environmentalists and those who demand reliance on alternative renewable-energy sources will dispute many of his assertions. Still, this is a valuable effort to explain the issues. --Jay Freeman Copyright 2006 Booklist"
From Booklist, Copyright (c) American Library Association. Used with permission.
Additional Information
Subjects Petroleum -- History -- 19th century.
Petroleum -- History -- 20th century.
Petroleum -- History -- 21st century.
Petroleum industry and trade -- History -- 19th century.
Petroleum industry and trade -- History -- 20th century.
Petroleum industry and trade -- History -- 21st century.
Petroleum reserves.
Publisher Westport, Conn. :Praeger Publishers,2006
Language English
Description xx, 340 pages ; 25 cm
Bibliography Notes Includes bibliographical references (pages [311]-321) and index.
ISBN 0275990087 (alk. paper)
9780275990084 (alk. paper)
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