A Thousand Barrels a Second: The Coming Oil Break Point and the Challenges Facing an Energy Dependent World
by Peter Tertzakian
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Book Summary Information
Author: Peter TertzakianEdition: Paperback
Audio: English (Original Language); English (Unknown); English (Published)
Published: 2007-05-09
ISBN: 0071492607
Number of pages: 288
Publisher: McGraw-Hill
Book Reviews of A Thousand Barrels a Second: The Coming Oil Break Point and the Challenges Facing an Energy Dependent World
Book Review: a good, basic introduction to the economics of energy
Summary: 4 Stars
This book gives a good introduction to the economics of energy, with an emphasis on what is going to happen when we run out of oil. It charts a middle course between doom-and-gloom pessimism, and blind optimism that innovation and market forces will automatically fix everything. The author uses his experience investing in the energy industry to give what seems to be a fairly realistic picture of what is likely to happen in the short term. The obvious fact is that as demand for oil begans to outstrip supply - and there are strong indications that the supply of oil is peaking or will peak soon - we will have to start making more use of other sources of energy. The good news is that additional sources are available, so civilization is probably not about to collapse. The bad news (for me at least) is that we are likely to follow the path of least resistance which entails making increasing use of other fossil fuels, especially coal. This is even worse for the environment than oil, and will just postpone and make more difficult the necessary process of transitioning to renewable sources of energy.
While there is nothing very deep or subtle in the book, it gives a good overview of the history of our use of energy, and lots of facts and figures and graphs about our current energy use. In particular there are lots of graphs showing the evolution over time of the "energy mix", namely how much of our energy comes from various different sources. As such, this book could be a very useful primer in order to better understand what one reads about energy in the news and the significance of the various numbers that appear there.
There are also a few very interesting tidbits. One of the more disturbing ones is that our rate of economic growth is strongly correlated with our use of oil. In other words, roughly speaking, for every dollar you spend, you cause a certain amount of oil to be consumed. The book claims that certain countries, such as Japan, have managed to neutralize this trend. However, because of globalization I'm not sure if it really makes sense to consider this question at only a national level. For example, lots of the fossil fuel that is burned in China is used to manufacture goods that are shipped to the US. This is an example of what I mean when I say that the book is not that deep or subtle.
Anyway, if you want to better understand what is going on with our use of energy, this book is a good place to start.
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Summary of A Thousand Barrels a Second: The Coming Oil Break Point and the Challenges Facing an Energy Dependent World
A Powerful Analysis of Our Oil Addiction and a New Direction for Global Energy
. .In 2006, world oil consumption exceeded one thousand barrels per second-a level with enormous impact on the environment, world economies, investments, and business profitability. A Thousand Barrels a Second examines the future of oil and the nature of our energy supply, revealing how governments, businesses, and individuals can meet the coming challenges with better solutions and innovations.
. .?A Thousand Barrels a Second is a book that arrives just in time.?-U.S. Representative Charles F. Bass, (R-NH), member House Energy and Commerce Committee
. .?Peter Tertzakian's analysis of world oil is a fascinating reminder that history often foretells the major turning points of the future.?-Gwyn Morgan, President And Chief Executive Officer, EnCana Corporation
.?An excellent book! In my more than 40 years in the industry I can't think of a publication which has so clearly discussed the global challenges of today's demands and tomorrow's requirements.?-Peter Gaffney, Senior Partner, Gaffney, Cline And Associates
.International Books
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