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The Age of Oil: The Mythology, History, and Future of the World's Most Controversial Resource
Oil is the most vital resource of our time. Because it is so important, misperceptions about the black gold abound. Leonardo Maugeri clears the cobwebs by describing the colorful history of oil, and explaining the fundamentals of oil production. He delivers a unique, fascinating, and controversial perspective on the industry―as only an insider could. The history of the oil market has been marked, since its inception, by a succession of booms and busts, each one leading to a similar psychological climax and flawed political decisions. In a single generation, we've experienced the energy crisis of 1973; the dramatic oil countershock of 1986; the oil collapse of 1998-99 that gave rise to the idea of oil as just another commodity; and the sharp price increases following hurricane Katrina's devastation in the Gulf of Mexico. Today, we are experiencing a global oil boom that, paradoxically, seems to herald a gloomy era of scarcity exacerbated by growing consumption and the threat from Islamic terrorism in the oil-rich Middle East.
Maugeri argues that the pessimists are wrong. In the second part of his book, he debunks the main myths surrounding oil in our times, addressing whether we are indeed running out of oil, and the real impact of Islamic radicalism on oil-rich regions. By translating many of the technical concepts of oil productions into terms the average reader can easily grasp, Maugeri answers our questions. Ultimately, he concludes that the wolf is not at the door. We are facing neither a problem of oil scarcity, nor an upcoming oil blackmail by forces hostile to the West. Only bad political decisions driven by a distorted view of current problems (and who is to blame for them) can doom us to a gloomy oil future.
Maugeri argues that the pessimists are wrong. In the second part of his book, he debunks the main myths surrounding oil in our times, addressing whether we are indeed running out of oil, and the real impact of Islamic radicalism on oil-rich regions. By translating many of the technical concepts of oil productions into terms the average reader can easily grasp, Maugeri answers our questions. Ultimately, he concludes that the wolf is not at the door. We are facing neither a problem of oil scarcity, nor an upcoming oil blackmail by forces hostile to the West. Only bad political decisions driven by a distorted view of current problems (and who is to blame for them) can doom us to a gloomy oil future.
360 pages, Hardcover
First published May 30, 2006
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Displaying 1 - 7 of 7 reviews
July 31, 2016
An exhaustive history of the black gold, it seems to just glide over smoothly various phases starting with the legacy predating Rockefeller. The author lucidly explains all concepts related to the production, transportation and refining and manages to do it quite well. Overall an excellent book.
November 23, 2008
An excellent review of the history of oil and the factors which play a role in the past, present and future.
August 3, 2012
Bible of the history of oil. The author takes you through a journey from the birth of oil to its present situations.
It is a real good book.
It is a real good book.
November 6, 2023
2.5
Very technical and financially oriented. I read about half of it in depth and skimmed the rest.
When I picked up a book on oil from an Oil Exec in 2006, I was prepared to be upset. But honestly, it was thoughtfully put together and I respected the perspective of history through the lens of the oil industry-- it felt more honest I guess? The bias is absolutely there, but in a more mild way than I was expecting. For example, Maugeri points out we don't actually know how much oil is left and that many of the oil shocks were due to belief of scarcity rather than scarcity itself.
For a byline that includes the acknowledgement "the World's Most Controversial Resource", Maugeri misses some of the main complaints against it. He defends Oil by saying "Don't worry, we won't run out, we have a lot and probably have more although I can't prove that". That feels shortsighted. He does not explore other options, does not understand the potential security risks of relying on other countries for energy resources, misses much of the colonial nature of the oil industry (he understands the tension but leaves ordinary people out of the picture), and generally tries to minimize the fact that oil is a highly polluting, limited resource.
Yes this was written in 2006, but I was still shocked that renewable energies got Two Sentences in the entire book. He spends a good portion of time calling people too pessimistic and then waves away important alternatives without any sources in his heavily sourced book. He is able to recognize the role of technology in oil but cannot conceive of it in other fields.
Unless I missed it, he doesn't mention climate change by name once. He acknowledges emissions concerns, but views his own perspective as the most pragmatic.
Judging it by what it claims to be: As a History, it seems very well done. For Controversy, he focuses a lot on Islam and ignores environmental concerns. For mythology and the future, it misses the mark.
Very technical and financially oriented. I read about half of it in depth and skimmed the rest.
When I picked up a book on oil from an Oil Exec in 2006, I was prepared to be upset. But honestly, it was thoughtfully put together and I respected the perspective of history through the lens of the oil industry-- it felt more honest I guess? The bias is absolutely there, but in a more mild way than I was expecting. For example, Maugeri points out we don't actually know how much oil is left and that many of the oil shocks were due to belief of scarcity rather than scarcity itself.
For a byline that includes the acknowledgement "the World's Most Controversial Resource", Maugeri misses some of the main complaints against it. He defends Oil by saying "Don't worry, we won't run out, we have a lot and probably have more although I can't prove that". That feels shortsighted. He does not explore other options, does not understand the potential security risks of relying on other countries for energy resources, misses much of the colonial nature of the oil industry (he understands the tension but leaves ordinary people out of the picture), and generally tries to minimize the fact that oil is a highly polluting, limited resource.
Yes this was written in 2006, but I was still shocked that renewable energies got Two Sentences in the entire book. He spends a good portion of time calling people too pessimistic and then waves away important alternatives without any sources in his heavily sourced book. He is able to recognize the role of technology in oil but cannot conceive of it in other fields.
Unless I missed it, he doesn't mention climate change by name once. He acknowledges emissions concerns, but views his own perspective as the most pragmatic.
Judging it by what it claims to be: As a History, it seems very well done. For Controversy, he focuses a lot on Islam and ignores environmental concerns. For mythology and the future, it misses the mark.
December 27, 2021
Excellent book reviewing the history of O&G production and Geopolitical factors influencing Oil production and prices.
July 8, 2024
Um livro fantástico para quem quer compreender a trajetória transformadora que o petróleo viveu, desde a sua descoberta, desenvolvimento e crescimento, até se tornar a maior commodity do mundo atual. Um aula de história, negócios e geopolítica imperdível.
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February 5, 2017greekfire23 good book to read on oil
Displaying 1 - 7 of 7 reviews