Investing in Energy
A Primer on the Economics of the Energy Industry
Lieferzeit: Besorgungstitel - Lieferbar innerhalb von 10 Werktagen I
Gewicht:
500 g
Format:
235x157x17 mm
Beschreibung:
An energy industry researcher and investment advisor provides a fresh perspective on the economics of energy
From 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 Investing in Energy: A Primer on the Economics of the Energy Industry.
* Details how to value and invest in the four big energy sectors: oil, gas, power, and green
* Describes key financial considerations for the energy sectors, including credit metrics, the importance of liquidity, cash flow, and capital expenditures
* From Bloomberg, a leading provider of the most up-to-date business news and financial data
A comprehensive guide to the economics of the energy industry, Investing in Energy 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.
From 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 Investing in Energy: A Primer on the Economics of the Energy Industry.
* Details how to value and invest in the four big energy sectors: oil, gas, power, and green
* Describes key financial considerations for the energy sectors, including credit metrics, the importance of liquidity, cash flow, and capital expenditures
* From Bloomberg, a leading provider of the most up-to-date business news and financial data
A comprehensive guide to the economics of the energy industry, Investing in Energy 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.
A new look at energy industry economics from an expert investor Offering a fresh perspective on the economics of the energy industry, Investing in Energy: A Primer on the Economics of the Energy Industry is essential reading for anyone interested in the investmentopportunities afforded in this rapidly expandingand diversifying field. Written by an industry researcher and investment advisor with twenty years of insider experience, the book presents an in-depth look at the economics of energy, providing bankable advice on the two major sources of energy being used today: gas and oil, as well as coverage of new and emerging green and alternative power sources. Reflecting on theinvestment opportunities presented by each option,the book empowers readers--from seasoned investorsto those just starting out in the world of energy economics--to make informed choices about what to do with their money in the rapidly changing world of energy investment. From big oil companies to emerging cap-and-trade policies, Investing in Energy offers the most complete coverage of the economics of the energy industry available.
Preface.
Acknowledgments.
Part I Introduction and Financial Considerations.
Chapter 1 Historical Perspectives.
Oil and Gas Producers.
Production Perspectives.
Importance of Reserves.
Regulatory Environment.
Alternative Energy Forms.
Alternative Energy Growth.
Energy Investment Cost Considerations.
Concluding Thoughts.
Chapter 2 Investment Opportunities in Energy.
Asia Comes of Age.
Australia's Natural Gas Boom.
Brazil Beckons with Deepwater.
Iraq's Road to Recovery.
North American Unconventional Natural Gas Plays.
Solar Power Generation.
Concluding Thoughts.
Chapter 3 Cash Flow and Liquidity at Various Crude Prices.
Independent Oil Companies.
National Oil Companies.
Capital Expenditure Planning.
Liquidity - Cash is Still King.
Liquidity Metrics.
Cash-Flow Considerations.
Cash-Flow Metrics.
Leverage.
Concluding Thoughts.
Chapter 4 Capital Structure and Capital Markets.
Capital Structure.
Investors.
Alternative Energy Subsidies.
Concluding Thoughts.
Chapter 5 The Quarterly Earnings Disconnect.
Short Term versus Long Term.
Business Risks.
Concluding Thoughts.
Part II Crude Oil and Natural Gas.
Chapter 6 Analyzing Reserves.
Authorities on Reserves.
Proven Reserves.
Industry Nomenclature.
Proven Reserve Criterion.
Unproven Reserves.
Certification Process.
More on Reserve Authorities.
Measuring Reserves.
Concluding Thoughts.
Chapter 7 Crude Oil Markets and Production.
The Crude Oil Markets.
Benchmark Crudes.
Inventory Levels.
Crude Oil Quality.
Crude Oil Markets.
Concluding Thoughts.
Chapter 8 Natural Gas Markets and Production.
De-Coupling of Natural Gas from Crude Oil.
Conventional Natural Gas Production.
North American Unconventional Natural Gas Shale Plays.
Canadian Natural Gas Markets.
Natural Gas Markets.
LNG - Fuel for the Future.
Natural Gas Storage.
Natural Gas as a Utility.
Natural Gas The Cleaner Fuel.
Concluding Thoughts.
Chapter 9 Understanding Refining Economics.
The Business Model.
Challenge for Independent Refiners.
Physical Crude Oil Trading.
Refining Capacity, Complexity, and Utilization.
Benchmark Crude Oils.
Crack Spreads.
The Challenge.
Concluding Thoughts.
Chapter 10 Integrated Majors and the Evolution of the Competitive Landscape.
Role of National Oil Companies.
The Road Ahead For Integrated Majors.
U.S. Safety and Regulation.
U.K. Environmental Programme.
Technological Challenges Abound.
Reserve Changes.
Concluding Thoughts.
Chapter 11 The Oilfield Service Sector and Oil Juniors.
The World is Their Platform.
Oil Juniors: Is Smaller Better?
Concluding Thoughts.
Chapter 12 OPEC.
OPEC Organization.
OPEC Crude Basket.
OPEC Crude Production.
OPEC's Role during the Financial Crisis 2008-2009.
Saudi Arabia's Role in OPEC.
OPEC versus Non-OPEC Reserves.
Geopolitics of Crude.
Natio
Acknowledgments.
Part I Introduction and Financial Considerations.
Chapter 1 Historical Perspectives.
Oil and Gas Producers.
Production Perspectives.
Importance of Reserves.
Regulatory Environment.
Alternative Energy Forms.
Alternative Energy Growth.
Energy Investment Cost Considerations.
Concluding Thoughts.
Chapter 2 Investment Opportunities in Energy.
Asia Comes of Age.
Australia's Natural Gas Boom.
Brazil Beckons with Deepwater.
Iraq's Road to Recovery.
North American Unconventional Natural Gas Plays.
Solar Power Generation.
Concluding Thoughts.
Chapter 3 Cash Flow and Liquidity at Various Crude Prices.
Independent Oil Companies.
National Oil Companies.
Capital Expenditure Planning.
Liquidity - Cash is Still King.
Liquidity Metrics.
Cash-Flow Considerations.
Cash-Flow Metrics.
Leverage.
Concluding Thoughts.
Chapter 4 Capital Structure and Capital Markets.
Capital Structure.
Investors.
Alternative Energy Subsidies.
Concluding Thoughts.
Chapter 5 The Quarterly Earnings Disconnect.
Short Term versus Long Term.
Business Risks.
Concluding Thoughts.
Part II Crude Oil and Natural Gas.
Chapter 6 Analyzing Reserves.
Authorities on Reserves.
Proven Reserves.
Industry Nomenclature.
Proven Reserve Criterion.
Unproven Reserves.
Certification Process.
More on Reserve Authorities.
Measuring Reserves.
Concluding Thoughts.
Chapter 7 Crude Oil Markets and Production.
The Crude Oil Markets.
Benchmark Crudes.
Inventory Levels.
Crude Oil Quality.
Crude Oil Markets.
Concluding Thoughts.
Chapter 8 Natural Gas Markets and Production.
De-Coupling of Natural Gas from Crude Oil.
Conventional Natural Gas Production.
North American Unconventional Natural Gas Shale Plays.
Canadian Natural Gas Markets.
Natural Gas Markets.
LNG - Fuel for the Future.
Natural Gas Storage.
Natural Gas as a Utility.
Natural Gas The Cleaner Fuel.
Concluding Thoughts.
Chapter 9 Understanding Refining Economics.
The Business Model.
Challenge for Independent Refiners.
Physical Crude Oil Trading.
Refining Capacity, Complexity, and Utilization.
Benchmark Crude Oils.
Crack Spreads.
The Challenge.
Concluding Thoughts.
Chapter 10 Integrated Majors and the Evolution of the Competitive Landscape.
Role of National Oil Companies.
The Road Ahead For Integrated Majors.
U.S. Safety and Regulation.
U.K. Environmental Programme.
Technological Challenges Abound.
Reserve Changes.
Concluding Thoughts.
Chapter 11 The Oilfield Service Sector and Oil Juniors.
The World is Their Platform.
Oil Juniors: Is Smaller Better?
Concluding Thoughts.
Chapter 12 OPEC.
OPEC Organization.
OPEC Crude Basket.
OPEC Crude Production.
OPEC's Role during the Financial Crisis 2008-2009.
Saudi Arabia's Role in OPEC.
OPEC versus Non-OPEC Reserves.
Geopolitics of Crude.
Natio
? Investing in Energy is a comprehensive guide to the energy industry, a sum of the economics of the industry, the financial considerations involved in investing, and an evaluation of each major sector. ? It identifies the four major sectors as oil, natural gas, power, and the emerging green industry.