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Title: The Oil Factor: How Oil Controls the Economy and Your Financial Future by Donna Leeb, Stephen Leeb ISBN: 0-446-53317-3 Publisher: Warner Books Pub. Date: February, 2004 Format: Hardcover Volumes: 1 List Price(USD): $24.95 |
Average Customer Rating: 4.19 (16 reviews)
Rating: 5
Summary: Just buy it
Comment: To paraphrase an ad, "just buy it." I'm a pretty sophisticated investor, and I read all the financial papers and have read a slew of investment books. Most of them have been disappointing; they stress the obvious, they're misleading, or they're just not very informative. This book is totally different; it's one of a kind. It contains an amazing amount of relevant information, boiled down so as to be completely understandable without being overwhelming. The Leebs point out a key reality that should have been obvious but that investors and analysts largely ignored in the 1990's tech boom: energy is the key to our economy, and the energy we've depended on, oil and natural gas, is finite - and production of it is going to be slowing down. This will lead to a sustained uptrend in oil prices. The Leebs explain what this means to investors - specifically, buy not just energy stocks, but gold, defense stocks, and other industries that benefit from inflation. They also explain how to protect yourself against deflation and why that's so important. And there's no hype in the book, no effort to create some easy-to-sell but unreal doom and gloom scenario - just a patient outlining of what really counts. As I said, just buy it.
Rating: 4
Summary: Expect more to come about this topic!
Comment: I read this book last night. It is a quick read, quite repetitive, and tries too hard to be clever. BUT, it strikes a powerful cord and is fabulously specific about its recommendations which you can take or leave. I think this book will permanently change my investment strategy which has been traditionally based on diversification and value.
Contrary to reviews, Oil Factor is not a doomsday scenario. It is instead a seemingly rational view of the fact that the world's economy is energy based and that oil is now king but won't be forever. The authors do their best to simplify complex ideas about the relationship of energy to everyone's economic future. I was drawn to the book because of my own belief that predictions that our oil reserves will last another 50 years are shallow and ridiculously optimistic. This book reenforced my skepticism, although it may err in the other direction. The authors offer a way to think about the world's relationship to energy that is conservative but not panic or crisis driven. These ideas offer a new way to think about an investment strategy, or in other words, a redefinition of my concept of "value".
The book is not just about energy. It is about the effect our energy needs have on our behavior. It talks about defense, real estate, insurance, alternative energy, metals, inflation and deflation,just to name a few chapters. The authors strive to rise above the "political gestalt" of energy politics where the artists and vegetarians care about alternatives, and the construction workers and CEOs care about oil. "Our system can't survive without affordable energy, and once oil doesn't fit that bill, we'll need to find something else that does. We'll all have to come together on this. "
In summary, I think this book is extremely worthwhile and expect to hear much more about this subject in the next couple of years.
Rating: 5
Summary: Reader from nowhere is an ostrich
Comment: (...)Not fiction, but fact. We're using far more oil than we're discovering. Production is increasing, but discoveries have trickled off to almost nothing.
Now, you tell me, just how in hell do you think we're gonna support a population of 6 billion plus when oil discoveries have trailed away? Tell me, I'm curious.
There's no more oil to find, my friend, and when production declines begin--anytime after right now, actually--I hope you have a good solid hole to climb down into...you seem to already, to judge from your ignorance.
You think we'll be flying airplanes on solar power? Drive cars on coal? Running electrical grids with wind-power? If not, where exactly is the energy gonna come from? You tell me.
The population of this planet is *well* into overshoot even by optimistic calculations. You know how fast the dieoff will happen once the oil begins its decline to zero? Maybe you don't want to know, hence your denial.
5-10 years from now will tell who's right. Frankly, I wish you were right. But I know you're not. Get a clue and do a little reading in basic geology. And on sustainability. And on evolutionary biology.(...)
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Title: Out of Gas: The End of the Age of Oil by David Goodstein ISBN: 0393058573 Publisher: W.W. Norton & Company Pub. Date: February, 2004 List Price(USD): $21.95 |
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Title: The Party's Over: Oil, War and the Fate of Industrial Societies by Richard Heinberg ISBN: 0865714827 Publisher: New Society Pub Pub. Date: 15 April, 2003 List Price(USD): $17.95 |
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Title: Hubbert's Peak : The Impending World Oil Shortage by Kenneth S. Deffeyes ISBN: 0691116253 Publisher: Princeton Univ Pr Pub. Date: 11 August, 2003 List Price(USD): $16.95 |
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Title: Resource Wars: The New Landscape of Global Conflict With a New Introduction by the Author by Michael T. Klare ISBN: 0805055762 Publisher: Owl Books Pub. Date: 13 March, 2002 List Price(USD): $15.00 |
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Title: The Dollar Crisis: Causes, Consequences, Cures by Richard Duncan ISBN: 0470821027 Publisher: John Wiley & Sons Pub. Date: 25 July, 2003 List Price(USD): $29.95 |
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