Expert analysis of rising oil prices and the out-of-control oil markets that jeopardize both national security and the economy The price of oil is negatively impacting both companies and consumers. In Oil's Endless Bid: Taming the Unreliable Price of Energy to Secure Our Economy, energy analyst Dan Dicker recalls his experiences as an oil trader and reveals the changes that have taken place in the oil markets during the past twenty years, and particularly the last five, as investment banks, energy hedge funds, and managed futures funds have come to dominate energy trading and wreak havoc on prices. Reveals why oil prices cannot stabilize without dramatic action on the part of both government and business Details how the novel, but wrong, idea of oil as an asset class took a sleepy, club-like market into the national spotlight Describes how the United States is unnecessarily handing its wealth over to foreign oil producers during a time when the potential supply of oil is greater than ever Written by an industry insider, Oil's Endless Bid analyzes the biggest financial story of the last ten years?how we lost control of our oil markets.
Colonel Drake drilled a 70 feet well in Titusville, Pennsylvania and discovered oil. In 1956, Shell British Petroleum discovered crude oil in the Niger Delta within Nigeria and since then oil exploration and exploitation have been ongoing for several decades. The Niger Delta consists of highly diverse ecosystems supportive of numerous species of terrestrial and aquatic fauna and flora, and is the largest wetland in Africa. The oil spillages ongoing for several decades have characterized the area by contaminated rivers, stream and forest, which constitutes the major income source for the majority of the local population inhabiting the region, which are mainly dependent on ecosystem services. Approximately 1.5 million tons of oil has been spilled within the Niger Delta region over the span of several decades, most of which was partially cleaned or not cleaned totally, making some areas wastelands.
Oil and gas are essential energy resources and have become more precious with the economic rise of China, India and Brazil. While consumption has risen tremendously, satisfying this demand has become more challenging and complex. With rising complexity and capital investment, quantifying the economic risk in developing existing and new fields has become paramount for raising shareholder value, and optimize resource allocation. The book provides an outline of the theory behind quantifying economic uncertainty for oil and gas projects, utility theory in the context of oil and gas projects and the increasingly important aspect of hedging against negative field development outcomes. Taking this into account, a novel optimization framework using option theory is introduced to improve project selection and enable practitioners to determine the optimal projects and their working interests for maximizing economic return.
As the world's second largest producer of palm oil, Malaysia has more than four million hectares of its land cultivated with oil palm trees. The palm oil industry produces millions of tons of biomass annually, in which mostly are underutilized and of no value. With Malaysia's recent effort in promoting renewable energy through the launching of its National Green Technology Policy, oil palm biomass has since been actively studied for its potential as a green and renewable energy source. The Downdraft Gasification of Oil Palm Frond explores into the feasibility of oil palm frond to be utilized as fuel to produce heat and electricity. Readers will gain insight into the overview of the biomass, the underlying principle of gasification technology, as well as the valuable outcomes from the gasification of oil palm frond. Intended for researchers, engineers and technology enthusiasts alike, it is the hope of the authors that the book will be beneficial for readers to gain as much about the centuries-old gasification technology and that the oil palm frond to be valued as one of the most promising sources of alternative fuel in the near future.
Marine oil spills are the most important threat to the coastal environment and ecosystems of the sea. Furthermore, oil spills are responsible for the great loss of energy resources. Treatment of oil spills has become an important task of environmental protection to avoid pollution to water and fatal destruction to biodiversity, as a result of the huge economic and environmental destruction from oil spills. Studies have been directed at improving and deploying the techniques commonly used in the oil spills treatment that include booms, dispersants, skimmers, sorbents etc. The use of sorbents is of great interest, as it allows the collection and complete removal of oil by achieving a change from liquid to semi-solid phase. This work includes the problem of oil spill pollution and discus the different methods using for treatment of oil spill, it is also focusing on the different types of sorbent materials especially natural modified sorbent materials based on cellulosic materials. This work helps organizations interested in the environment, as well as factories and companies engaged in the treatment of oil spill and oil-water separation and water treatment.
This brief overview attempts to trace and analyze the remarkable social, economic, and political circumstances which led to the nationalization of British oil interests in Iran and explains the relationship of the oil nationalization to the Anglo-American-sponsored coup against Mossadegh that subdued the nationalist government and ended with the return of the Shah. Industrial development in Iran depended on revenues from oil, the country's main source of income. Foreign monopolization over this industry by the AIOC granted the British dominance over Iran's economic sector, thereby impairing the country of its independence. This work also examines the motives behind the coup against Mossadegh that was sponsored by actors such as the American CIA, British MI6, and internal military agents. It also strives to demonstrate that the United States' contribution to the 1951 British-led oil boycott against Iran, in addition to co-sponsoring the autocratic regime of the Shah in Iran with the British, planted the seeds of the 1979 revolution in Iran as a result of the economic and political weakening of the country.