Oil

Oil : An Introduction to the Technology, Economics, and Politics of a Non-renewable Resource

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Description

What causes the huge swings in the price of oil, and what does the future hold for the oil industry? This insightful book by a leading expert in the field explains clearly why the economics of oil must take into account that it is a depleting non-renewable resource, and the cost of extraction depends not only on the current rate of production but also on the cumulative production. The author dismisses the idea that oil economics is determined by arcane mathematical formulae, and instead reduces crude oil pricing to the basic principles of oil quality and properties, extraction, refining, and geopolitics. Speight shows how oil properties play an essential role in oil pricing and politics, and clarifies why crude oil prices behave much as any other commodity with wide price swings in times of shortage or oversupply. He examines the issue of oil reserves, and connects science, economics, and politics for an unprecedented, in-depth look at the oil industry of today and tomorrow.show more

Product details

  • Hardback | 320 pages
  • Taylor & Francis Inc
  • M.E. Sharpe
  • Armonk, United States
  • English
  • 15 tables, 14 figures, glossary and canversion table, references, index
  • 076562270X
  • 9780765622709