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Oil 101 First Edition

by Morgan Downey (Author)
4.6 4.6 out of 5 stars 325 ratings
See all formats and editions
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OIL 101 is a straightforward guide to oil and an essential read for anyone coming to grips with where oil prices, the economy and society are headed.

In OIL 101, Downey provides the facts one needs to understand oil, from its history and chemistry, to refining, finished products, storage, transportation, alternatives, and how prices are determined every day in global wholesale oil markets and how those markets are connected to prices at the pump.

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Previous page
  1. ISBN-10
    0982039204
  2. ISBN-13
    978-0982039205
  3. Edition
    First Edition
  4. Publisher
    Wooden Table Press
  5. Publication date
    January 1, 2009
  6. Language
    English
  7. Dimensions
    6.3 x 1.5 x 9.1 inches
  8. Print length
    452 pages
  9. See all details
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Editorial Reviews

Review

"industry must-read" --Financial Times, February 25, 2009

"I read a lot of books. A quick measure comes up with more than 10 ft of shelf space filled with books relating to the topic...of my collection only 8 books sit on my desk. Today I added another to that rather select group. It is Morgan Downey's "Oil 101"

...It differs from them, however, both in being focused not just on oil, but also in explaining more of the financial matters that play such a significant part in the price we pay for oil and thereafter for the gas that goes into the tank.

...This is useful not just to the neophyte.

...While providing some background to the debate on current world oil reserve calculations, he does not take a specific position within it. Given the nature of the debate, that is perhaps wise.

...the book will stay on my desk, and start to look as worn as some of the others."
--www.theoildrum.com, February 17, 2009

Review

"I read a lot of books. A quick measure comes up with more than 10 ft of shelf space filled with books relating to the topic...of my collection only 8 books sit on my desk. Today I added another to that rather select group. It is Morgan Downey's "Oil 101"

...It differs from them, however, both in being focused not just on oil, but also in explaining more of the financial matters that play such a significant part in the price we pay for oil and thereafter for the gas that goes into the tank.

...This is useful not just to the neophyte.

...While providing some background to the debate on current world oil reserve calculations, he does not take a specific position within it. Given the nature of the debate, that is perhaps wise.

...the book will stay on my desk, and start to look as worn as some of the others."

Product details

  • Publisher ‏ : ‎ Wooden Table Press; First Edition (January 1, 2009)
  • Language ‏ : ‎ English
  • Hardcover ‏ : ‎ 452 pages
  • ISBN-10 ‏ : ‎ 0982039204
  • ISBN-13 ‏ : ‎ 978-0982039205
  • Item Weight ‏ : ‎ 1.75 pounds
  • Dimensions ‏ : ‎ 6.3 x 1.5 x 9.1 inches
  • Customer Reviews:
    4.6 4.6 out of 5 stars 325 ratings

About the authors

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  1. Morgan Patrick Downey

    Morgan Patrick Downey

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Customer reviews

4.6 out of 5 stars
4.6 out of 5
325 global ratings

Top reviews from the United States

Anthony Rampersad
5.0 out of 5 stars Superb for learners and indispensable for the seasoned industry players
Reviewed in the United States on August 6, 2012
Verified Purchase
I purchased this book strictly with the intention of learning more about the trading side of the business but was very pleasantly surprised to find that it started from the very bottom of the ladder and revealed practically every essential detail of the industry. Being specifically employed in the gas industry I was skeptical at first of the value I stood to gain from reading this. But once I sank into even the first chapter I realized that a lot of gas industry practices and jargon were actually spinoffs or directly borrowed from the oil industry. The book spares no detail and takes nothing for granted as being already known or understood unless it was previously stated between its covers. It can thus be understood from the simplest level go up. Im just about halfway through but will certainly update my review once completed. I look forward to an updated version that perhaps expands some more on the world's oil balance given recent large discoveries in Brazil and Africa (East and West). Im not sure if the topic can be rightly squeezed into the same volume but a "Gas 101" might be a likewise appreciated accompaniment to this handy piece of work.
I have two criticisms to give neither of which managed to diminish my inclination toward a five-star review. I guess my appreciation for the content over-rode both my cautions. Firstly, the shipping time was way too long. The book is a fast moving stock item and should at least be stocked to reduce shipout time. Secondly, the language, though simple to read at any level, is sufficiently poor in places to totally derail the flow and require you to read the same sentence twice or more. You will ultimately get the idea the author is trying to convey so I dont see this as being worth an entire star in the final rating. "Oil 101" is definitely a worthy investment rather than an expense and will aptly prime newcomers to the industry in just as much time as it takes them to read it.
4 people found this helpful
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Yung Fan
5.0 out of 5 stars Fascinating Book
Reviewed in the United States on February 2, 2009
Verified Purchase
Oil 101 is a fascinating book. It explains everything I wanted to know about oil.

Over the past few years with rapidly rising and falling oil prices, politicians, TV pundits and market commentators blamed speculators, OPEC, refineries and a host of other seemingly random events. I felt that everyone understood only tiny portions of the oil business. There was no single source which pulled together disparate areas describing oil. Internet searches for oil definitions yielded individual descriptions without an overall context.

Downey's Oil 101 brings all parts of the oil business together in a logical easily understood manner. The sequence of chapters is perfect and the author makes no assumption of prior knowledge. The index is so thorough that I use the book daily as a desk reference.

The chapter on the history of oil is refreshing and is very much worth the price of the book in itself. The book rose my interest to visit the world's first oil well in Oil Creek near Titusville, Pennsylvania where the modern oil industry started in 1859. It was certainly an interesting trip.

The book explains clearly how oil markets operate and oil prices change. The amount of useful information contained in this book is phenomenal. A more important point that I like this book is that the book is very interesting and easy to read. This is exceptional for a highly specialized technical book. I highly recommend Downey's Oil 101. Below is the table of contents:

Part One: Oil fundamentals
Chapter 1: A brief history of oil
Chapter 2: A crude oil assay
Chapter 3: Components of oil liquids
Chapter 4: Chemistry of oil
Chapter 5: Industry overview
Chapter 6: Exploration and production
Chapter 7: Refining
Chapter 8: Standards
Chapter 9: Finished products
Chapter 10: Petrochemicals
Chapter 11: Transporting oil
Chapter 12: Storage
Chapter 13: Seasonality
Chapter 14: Reserves
Chapter 15: Environmental regulations
Chapter 16: New engine technologies

Part Two: Oil markets
Chapter 17: Oil prices
Chapter 18: Forward oil markets - futures and swaps
Chapter 19: Forward oil markets - options
Chapter 20: Managing oil price risk
158 people found this helpful
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Button Gwinnett
4.0 out of 5 stars A half-finished primer that is worth the read
Reviewed in the United States on March 3, 2020
Verified Purchase
The nice thing about this book is that it is instructive regarding oil; I learned an enormous amount by reading it. The not-so-nice thing about this book is that it feels like a rough draft at times, perhaps hurriedly written, with typos and grammatical mistakes and word usage errors ("comprise" is used incorrectly throughout the book, except on page 277). I would have liked to see more depth of explanation in the trading portion of the book, as well as footnotes explaining and referencing some of the author's assertions. There are a few technologies that he clearly doesn't believe in, but aside from those, he is fairly circumspect.

It's a solid book; if I were the author, I'd update it to include a more modern take on fracking, batteries, renewables, and electric transportation, and send it to a professional editor. Seriously, at times the errors and language made me think I had received a Chinese knockoff of a book written in English.

Buy Oil 101 if you are a scientific person who follows the financial markets, but you have never worked with nor traded oil. Oil 101 isn't the be-all, end-all of books on oil, but it is a worthy place to start.
5 people found this helpful
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Top reviews from other countries

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Ant D
5.0 out of 5 stars Very informative
Reviewed in the United Kingdom on November 11, 2023
Verified Purchase
This is a very detailed and useful book for anyone looking to understand the oil markets
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Eric Sievers
5.0 out of 5 stars Best Introductory Text on The Industry
Reviewed in Canada on November 17, 2019
Verified Purchase
As someone who is involved in a peripheral business to Oil & Gas, this book filled all the holes in what I thought I knew about the industry. As far as I am concerned, this is a must read text for anybody with involvement in Oil & Gas.
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Doris Yuen
5.0 out of 5 stars Must have
Reviewed in Singapore on September 4, 2020
Verified Purchase
A must read for all in the oil and petchem industry!
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guichard
5.0 out of 5 stars GREAT SELLER +++ FAST, CLEAN,PERFECT ... WHAT ELSE ?
Reviewed in France on March 26, 2015
Verified Purchase
GREAT SELLER +++ FAST, CLEAN,PERFECT ... WHAT ELSE ?
GREAT SELLER +++ FAST, CLEAN,PERFECT ... WHAT ELSE ?
GREAT SELLER +++ FAST, CLEAN,PERFECT ... WHAT ELSE ?
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R. Akutagawa
5.0 out of 5 stars Topkauf für Hintergrundinfos zu den Ölmärkten
Reviewed in Germany on January 16, 2013
Verified Purchase
Ein gutes Buch zum Thema Oil, das sich jedoch zu einem ganz erheblichen Teil nicht mit dem Handel von Öl (also Futures etc.) beschäftigt sondern das physische Produkt und den Markt erklärt: Zum Beispiel finden sich so seitenlange Abhandlungen darüber welche verschiedenen Ölbohrköpfe es gibt, wie spezielle Teile einer Raffinerie aufgebaut sind und wie verschiedene Petrochemikalien chemisch zusammengesetzt sind. Der Autor erklärt dabei anschaulich für einen intelligenten Laien. Im Stil ähnlich wie z.b. ein Artikel im "Economist".

Ich finde das Buch persönlich hochinteressant, hätte mir jedoch durchaus mehr zum Thema Handel erhofft. Auch ist das Buch sehr US-zentrisch.

Ich vermute dass manch ein potentieller Käufer dieses Buch missversteht: Oil 101 ist im Prinzip ein technischer Einstieg für Wirtschaftswissenschaftler in den Ölmarkt. Das Buch enthält keine ethische Bewertung des Themas. Ebenso fehlen praktische Tips zum Investieren für Privatanleger.

Too long didn't read: Für mich ein Topkauf.
6 people found this helpful
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