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Following Oil: Four Decades of Cycle-Testing Experiences and What They Foretell about U.S. Energy Independence

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In a forty-year career as an oil and gas investment analyst and as an investment banker and strategic adviser on petroleum-sector mergers, acquisitions, and financings, Thomas A. Petrie has witnessed dramatic changes in the business. In Following Oil, he shares useful lessons he has learned about domestic and global trends in population and economic growth, a maturing reso In a forty-year career as an oil and gas investment analyst and as an investment banker and strategic adviser on petroleum-sector mergers, acquisitions, and financings, Thomas A. Petrie has witnessed dramatic changes in the business. In Following Oil, he shares useful lessons he has learned about domestic and global trends in population and economic growth, a maturing resource base, variable national energy policies, and dynamic changes in geopolitical forces—and how these variables affect energy markets. More important, he applies those lessons to charting a course of energy development for the nation as the twenty-first century unfolds. By the 1970s, when Petrie began analyzing publicly traded securities in the energy sector, the petroleum investment market was depressed. The rise of the Organization of Petroleum Exporting Countries (OPEC) pushed energy to the center of the national security calculus of the United States and its allies. Price volatility would continue to whipsaw global markets for decades, while for consumers, cheap gasoline prices soon became a fond memory. Eventually, as Petrie puts it, finding oil on Wall Street became cheaper than drilling for it. Petrie uses this dramatic period in oil business history to relate what he has learned from “following oil” as a securities analyst and investment banker. But the title also refers to energy sources that could become available following eventual shrinkage of conventional-oil supplies. Addressing the current need for greener, more sustainable energy sources, Petrie points to recent large domestic gas discoveries and the use of new technologies such as horizontal drilling to unlock unconventional hydrocarbons. With these new sources, the United States can increase production and ensure itself enough oil and gas to sustain economic growth during the next several decades. Petrie urges the pursuit of cleaner fossil fuel development in order to buy the time to develop the technical advances needed to bridge the nation to a greener energy future, when wind, solar, and other technologies advance sufficiently to play a larger role.


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In a forty-year career as an oil and gas investment analyst and as an investment banker and strategic adviser on petroleum-sector mergers, acquisitions, and financings, Thomas A. Petrie has witnessed dramatic changes in the business. In Following Oil, he shares useful lessons he has learned about domestic and global trends in population and economic growth, a maturing reso In a forty-year career as an oil and gas investment analyst and as an investment banker and strategic adviser on petroleum-sector mergers, acquisitions, and financings, Thomas A. Petrie has witnessed dramatic changes in the business. In Following Oil, he shares useful lessons he has learned about domestic and global trends in population and economic growth, a maturing resource base, variable national energy policies, and dynamic changes in geopolitical forces—and how these variables affect energy markets. More important, he applies those lessons to charting a course of energy development for the nation as the twenty-first century unfolds. By the 1970s, when Petrie began analyzing publicly traded securities in the energy sector, the petroleum investment market was depressed. The rise of the Organization of Petroleum Exporting Countries (OPEC) pushed energy to the center of the national security calculus of the United States and its allies. Price volatility would continue to whipsaw global markets for decades, while for consumers, cheap gasoline prices soon became a fond memory. Eventually, as Petrie puts it, finding oil on Wall Street became cheaper than drilling for it. Petrie uses this dramatic period in oil business history to relate what he has learned from “following oil” as a securities analyst and investment banker. But the title also refers to energy sources that could become available following eventual shrinkage of conventional-oil supplies. Addressing the current need for greener, more sustainable energy sources, Petrie points to recent large domestic gas discoveries and the use of new technologies such as horizontal drilling to unlock unconventional hydrocarbons. With these new sources, the United States can increase production and ensure itself enough oil and gas to sustain economic growth during the next several decades. Petrie urges the pursuit of cleaner fossil fuel development in order to buy the time to develop the technical advances needed to bridge the nation to a greener energy future, when wind, solar, and other technologies advance sufficiently to play a larger role.

36 review for Following Oil: Four Decades of Cycle-Testing Experiences and What They Foretell about U.S. Energy Independence

  1. 4 out of 5

    Nese

    When I watched him in an investment program in PBS, initially I was very impressed by the knowledge level of the author about the geopolitics of oil and the future energy policies of the USA. When he recommended his book to learn more about the subject, I bought this book but found it very disappointing to say the least. First, the book is about the author’s working history including the people who worked in the same field, the story of them and the companies they owned or worked for. The second When I watched him in an investment program in PBS, initially I was very impressed by the knowledge level of the author about the geopolitics of oil and the future energy policies of the USA. When he recommended his book to learn more about the subject, I bought this book but found it very disappointing to say the least. First, the book is about the author’s working history including the people who worked in the same field, the story of them and the companies they owned or worked for. The second, the book is very biased on so many levels I don’t know where to start. At the end the author admits his viewpoint may be a little biased. My opinion is the title of the book should be: In Praise of Fossil Fuels.

  2. 4 out of 5

    Sean

    Not a bad perspective from the founder of Petrie Partners. Probably will only appeal to a niche audience involved in oil PE or IB.

  3. 4 out of 5

    William Boswell

  4. 5 out of 5

    Eoin O hOgain

  5. 5 out of 5

    Glenda L. McDorman

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    Christian

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    Matthew

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    Ed Terrell

  9. 4 out of 5

    David

  10. 4 out of 5

    John

  11. 5 out of 5

    Drilling

  12. 4 out of 5

    David

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    Drew Langford

  14. 5 out of 5

    Nathaniel

  15. 5 out of 5

    Jeff

  16. 4 out of 5

    Stanley

  17. 5 out of 5

    Darien Library

  18. 4 out of 5

    Vanessa L

  19. 4 out of 5

    Robert

  20. 5 out of 5

    Plain Jane

  21. 5 out of 5

    Alex

  22. 5 out of 5

    Marissa

  23. 5 out of 5

    Robert Romero

  24. 4 out of 5

    Molligizmo

  25. 4 out of 5

    Luke Miller

  26. 4 out of 5

    R

  27. 5 out of 5

    Johnny Le Bon

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    Brad Knox

  29. 4 out of 5

    Kimberly

  30. 4 out of 5

    Aaron

  31. 5 out of 5

    Sally

  32. 4 out of 5

    Jessica Franks

  33. 5 out of 5

    Ryan Aylward

  34. 5 out of 5

    Michael Bennet

  35. 5 out of 5

    Matt Lang

  36. 4 out of 5

    Brad Pearson

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