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More About This Title The Vega Factor: Oil Volatility and the Next Global Crisis
English
The world is rapidly moving towards an oil environment defined by volatility. The Vega Factor: Oil Volatility and the Next Global Crisis takes an in-depth look at the most important topics in the industry, including strategic risk, why traditional pricing mechanisms will no longer govern the market, and how the current government approaches have only worsened an already bad situation.
- Details the industry's players, including companies, traders, and governments
- Describes the priorities that will need to be revised, and the policies needed to achieve stability
- Explains how today's oil market is fundamentally different from the pre-crisis market
Oil prices affect everyone. The Vega Factor explains the new international oil environment of increasing consolidation and decreasing competition, and reveals how consumers and investors can navigate price volatility and new government policies.
English
KENT MOORS is Professor in the Department of Political Science and the Graduate Center for Social and Public Policy at Duquesne University, where he also directs the Energy Policy Research Group. An internationally recognized expert in oil and gas policy/finance and risk assessment, Kent is also President of the oil and gas consulting firm ASIDA, Inc., advising companies, financial institutions, law firms, and governments worldwide. He authors the Oil and Energy Investor, a twice-weekly advisory, the monthly Energy Advantage, and the investment alert service The Energy Inner Circle, and is a frequent contributor to Money Morning and contributing editor to the two leading post-Soviet oil and gas publications—Russian Petroleum Investor and Caspian Investor. Through an agreement with DeMatteo Monness, he provides specialized advisories to a broad range of Wall Street analysts, as well as investment, hedge fund, and capital and asset managers.
English
Preface ix
Chapter 1 The Meaning of Oil Vega 1
Chapter 2 How Oil Volatility Relates to Strategic Risk 15
Chapter 3 Determining Oil Prices 37
Chapter 4 Dollars, Credit, Financial Crises, . . . and the Oil Connection 57
Chapter 5 Oil Companies and the Upstream/ Downstream Tradeoff 101
Chapter 6 How Government Action Increases Volatility 141
Chapter 7 Is There a Response? 179
Appendix A World Proved Oil Reserves (Billion Barrels) 197
Appendix B Exxon CARM per Gallon (January 3, 2000 to December 31, 2007) 209
Appendix C Exxon ARM per Gallon (January 3, 2000 to December 31, 2007) 221
Appendix D Shell CARM per Gallon (January 3, 2000 to December 31, 2007) 241
Appendix E Shell ARM per Gallon (January 3, 2000 to December 31, 2007) 253
Appendix F BP CARM per Gallon (January 3, 2000 to December 31, 2007) 273
Appendix G BP ARM per Gallon (January 3, 2000 to December 31, 2007) 285
Notes 305
About the Author 421
Index 423
