Details

The Energy World is Flat

Opportunities from the End of Peak Oil
1. Aufl.

von: Daniel Lacalle, Diego Parrilla
21,99 €
Verlag:	Wiley
Format:	EPUB
Veröffentl.:	30.01.2015
ISBN/EAN:	9781118867990
Sprache:	englisch
Anzahl Seiten:	320

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Beschreibungen

Titelbeschreibung

A stronger, more informed approach to the energy markets The Energy World Is Flat provides a forward-looking analysis of the energy markets and addresses the implications of their rapid transformation. Written by acknowledged expert Daniel Lacalle, who is actively engaged with energy portfolios in the financial space, this book is grounded in experience with the world of high-stakes finance, and relays a realist's perspective of the current and future state of the energy markets. Readers will be brought up to date on the latest developments in the area, and learn the strategies that allow investors to profit from these developments. An examination of the markets' history draws parallels between past and current shifts, and a discussion of technological advancements helps readers understand the issues driving these changes. Energy has always been at the forefront of the economic agenda, being both the key to and a driver for development and growth. Its centrality to the world of finance makes it imperative for investors and analysts to understand the energy markets, irrespective of where on the wide range of energy spectrum observers they fall. The Energy World Is Flat is a guide to the past, present, and future of these crucial markets, and the strategies that make them profitable. These include: <ul> <li>Understanding the state of the energy markets, including key developments and changes</li> <li>Discovering the ten pillars of a successful energy investment strategy</li> <li>Reviewing the history of the energy markets to put recent changes into perspective</li> <li>Learning which technologies are driving the changes, and how it will affect investors</li> </ul> The recent energy market changes were both unexpected and so fundamental in nature that they represent a true shift in the energy macro- and microeconomic landscape. Investors and analysts seeking a stronger approach to these markets need the expert guidance provided by The Energy World Is Flat.

Inhaltsverzeichnis

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 Index 289

Rezension

“For industry analysts, this blogger included, it’s a brilliant and realistic assessment of the state of affairs and what potential investors should or shouldn’t look to” (Oilholics Synonymous Report, April 2015)

Autorenportrait

DANIEL LACALLE is an economist, fund manager and certified financial analyst specialised in Global Energy with experience in equities, bonds and commodities. He holds a postgraduate degree in IESE and a master's degree in economy investigation. After work-ing for ten years in the Oil and Gas sector, in charge of exports to the Middle East and Africa as well as Investor Relations, and in the utilities sector, Mr Lacalle joined the financial sector developing his career as a fund manager in some of the largest investment funds in the world, and was voted Top 3 Generalist and Number 1 Pan-European Buyside Individual in Oil & Gas in Thomson Reuters' Extel Survey in 2011, the leading survey among companies and financial institutions. Author of two best-selling books Nosotros los Mercados and Viaje a la Libertad Económica, now in their fifth and fourth editions respectively, as well as The Life In The Financial Markets (Wiley, 2014). Website www.dlacalle.com and Twitter @dlacalle DIEGO PARRILLA is a Hedge Fund Manager at BlueCrest Capital Management where he runs a portfolio of liquid macro commodity strategies. Prior to starting his career in fund management in 2011, Diego worked in commodities sales and trading holding, amongst others, the positions of Managing Director, Global Head of Commodity Solutions and Head of Commodities Asia Pacific. Diego holds a Bachelors and Master of Science in Mining and Petroleum Engineering from the Polytechnic University of Madrid in Spain, a Master of Science in Mineral Economics from the Colorado School of Mines in the USA, and a Master of Science in Petroleum Economics and Management by the French Institute of Petroleum in Paris, France. Diego currently resides in Singapore with his wife and three children.

Back cover copy

Written by energy financial experts Daniel Lacalle and Diego Parrilla, The Energy World Is Flat offers in-depth analysis of today's rapidly changing international energy markets. This vital resource reveals the economic implications of the relentless quest for affordable, abundant, and clean energy and outlines the winning strategies that allow investors to profit from the energy markets' ongoing developments. Solidly grounded in the realm of high-stakes finance, the book explores the history of energy markets in order to draw parallels between past and current shifts. Lacalle and Parrilla divulge the ten forces that contribute to the flattening and the globalization of the energy world and include ten critical lessons from the Internet revolution and the DotCom bubble that can be directly applied to the crude oil and the energy markets. With the recent developments in growth of the energy industry such as the shale gas revolution in the U.S., how can investors know where the energy market is headed in the future? As the authors explain, the key is to follow capital expenditure. Where is the money invested? What are the incentives? And what is the risk for investors when governments intervene – especially when there is no consideration given to return on investment? Unlucky investors will likely fall aggressively on the bait of government incentives and short term price signals. Savvy investors will be those that ignore fashionable trends and favour solid return on capital employed as their key guideline. Investment losers will expect policy changes to solve their strategic mistakes and winners will understand that overoptimistic demand assumptions should not drive investment. Winners don't wait for the cycle to turn but understand the nature of the cycles and keep their options open. As the global energy marketplace continues to transform in unexpected and fundamental ways, it has a profound influence on the energy macro- and microeconomic landscape. Investors and analysts will find expert guidance and valuable strategies in this accessible and practical resource.