A FORWARD–LOOKING APPROACH TO THE GLOBAL ENERGY MARKETS
"... and the last barrel of oil will not be worth millions, it will be worthless..."
From Chapter Five
The Energy World Is Flat offers both professional and private investors an enlightened guide and insightful analysis to the international energy markets and addresses the profound implications of their rapid and ongoing transformation. Written by Daniel Lacalle and Diego Parrilla (investment experts in the field of global energy) this important resource contains a perspective of the current and future state of the energy markets not found in other books. The authors explore the latest developments in the world of energy and include the strategies and information needed to profit from these advances.
No matter where an investor stands on the political and philosophical issues surrounding the energy market, it is widely acknowledged that energy is the driving force of the world′s economic agenda. The Energy World is Flat is a savvy investors strategic guide to the past, present, and future of these critical markets and reveals a positive investment approach.
"A tremendously valuable analysis of the energy markets that will both inform and delight the student, the seasoned industry professional, as well as the senior policy maker."
Helima Croft, Global Head of Commodity Strategy, RBC and former National Intelligence Fellow at the Council on Foreign Relations
"This is a fascinating analysis of the main issues in the energy world. I would recommend it as a reference book for casual readers, energy experts, politicians as well as top managers of energy companies. This book should be very valuable as it is both thorough and easy to read"
Juan Ramón Fernandez–Arribas, Energy Analyst and Consultant
"This book offers a consistent and thorough analysis of the complex global energy landscape, presenting the many political, economic and technological challenges of the energy sector in a clear, concise and bold way"
Ignacio Sanchez Galan, Chairman of Iberdrola
"In his usual clear, direct and reader friendly style, Daniel Lacalle offers a precise and impartial analysis of the complex energy market. A must–read for anyone looking for a global vision of the energy world"
Antonio Llarden, Chairman of Enagas and previously Sedigas
"A hugely interesting book in which the authors analyze the different variables in the energy world, questioning some of the established myths. The book is entertaining and informative"
Miguel Martinez, CFO of Repsol
Chapter 1 The Mother of All Battles. The Flattening and Globalization of the Energy World 1
Chapter 2 Lessons from the Internet Revolution and the Dotcom Bubble 11
Chapter 3 The 10 Forces that are Flattening the Energy World 31
Chapter 4 Flattener #1 Geopolitics: The Two Sides of the Energy Security Coin 35
Chapter 5 Flattener #2 The Energy Reserves and Resources Glut 53
Sorry, No Peak Oil 64
No Peak Gas Either 76
Chapter 6 Flattener #3 Horizontal Drilling and Fracking 85
Chapter 7 Flattener #4 The Energy Broadband 103
Chapter 8 Flattener #5 Overcapacity 117
Chapter 9 Flattener #6 Globalization, Industrialization, and Urbanization 123
Chapter 10 Flattener #7 Demand Destruction 131
Chapter 11 Flattener #8 Demand Displacement 135
The Battle for Transportation Demand 135
The Battle for Electricity and Industrial Demand 148
The Energy Domino 151
Chapter 12 Flattener #9 Regulation and Government Intervention 159
Regulation vs. Free Markets 160
The War on Pollution and Coal 165
Renewable Energy and the Disinflation of Power Prices 172
Biofuels and Food Inflation 193
Chapter 13 Flattener #10 Fiscal, Monetary, and Macroeconomic Flatteners 207
The Btu that Broke OPEC s Back 209
The Oil Tax Weapon 214
Monetary Experiments and the Credit Risk Time Bomb 220
Financial Flows. Let s Blame the Speculators 232
Chapter 14 Implications and Opportunities in the Financial Markets 245
Concluding Remarks 275
Appendix For A Competitive European Energy Policy 279