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Full Description
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:
Understanding the state of the energy markets, including key developments and changes
Discovering the ten pillars of a successful energy investment strategy
Reviewing the history of the energy markets to put recent changes into perspective
Learning which technologies are driving the changes, and how it will affect investors
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.
Contents
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
