That richer, fairer, cooler, safer world is possible, practical, even profitable-because saving and replacing fossil fuels now works better and costs no more than buying and burning them. Reinventing Fire shows how business-motivated by profit, supported by civil society, sped by smart policy-can get the US completely off oil and coal by 2050, and later beyond natural gas as well.
Authored by a world leader on energy and innovation, the book maps a robust path for integrating real, here-and-now, comprehensive energy solutions in four industries-transportation, buildings, electricity, and manufacturing-melding radically efficient energy use with reliable, secure, renewable energy supplies.Popular in tone and rooted in applied hope, Reinventing Fire shows how smart businesses are creating a potent, global, market-driven, and explosively growing movement to defossilize fuels. It points readers to trillions in savings over the next 40 years, and trillions more in new business opportunities.Whether you care most about national security, or jobs and competitive advantage, or climate and environment, this major contribution by world leaders in energy innovation offers startling innovations will support your values, inspire your support, and transform your sense of possibility.Pragmatic citizens today are more interested in outcomes than motives. Reinventing Fire answers this trans-ideological call. Whether you care most about national security, or jobs and competitive advantage, or climate and environment, its startling innovations will support your values, inspire your support, and transform your sense of possibility.
A master storyteller as well as a leading energy expert, Daniel Yergin continues the riveting story begun in his Pulitzer Prize–winning book, The Prize. In The Quest, Yergin shows us how energy is an engine of global political and economic change and conflict, in a story that spans the energies on which our civilization has been built and the new energies that are competing to replace them.
The Quest tells the inside stories, tackles the tough questions, and reveals surprising insights about coal, electricity, and natural gas. He explains how climate change became a great issue and leads readers through the rebirth of renewable energies, energy independence, and the return of the electric car. Epic in scope and never more timely, The Quest vividly reveals the decisions, technologies, and individuals that are shaping our future.
Things looked grim for American energy in 2006, but a handful of wildcatters were determined to tap massive deposits of oil and gas that giants like Exxon and Chevron had ignored. They risked everything on a new process called fracking. Within a few years, they solved America’s dependence on imported energy, triggered a global environmental controversy, and made and lost astonishing fortunes.
No one understands the frackers—their ambitions, personalities, and foibles—better than Wall Street Journal reporter Gregory Zuckerman. His exclusive access drives this dramatic narrative, which stretches from North Dakota to Texas to Wall Street.
Both a riveting account of a life spent pulling off improbable triumphs and a report back from the front of the global-energy and natural-resource wars, The First Billion Is the Hardest tells the story of the remarkable late-life comeback that brought the famed oilman and maverick back from bankruptcy and clinical depression. Along the way, the man often called the “Oracle of Oil” shares the insights that have made him a legend–and describes the billion-dollar bets he is now making in hopes of securing America’s energy independence.
“Sassy...breezes along...salted with earthy aphorisms.”—Bloomberg.com
“Boone’s analysis of America’s energy situation is 100 percent on the money....The country should listen to him–now!” —Warren Buffett, chairman and CEO, Berkshire Hathaway
“Self-deprecating and audacious...overall, it’s decidedly informative about the machinations of business.” –Dallas Morning News
“A fascinating, eye-opening book by one of America’s greatest iconoclasts and entrepreneurs. Boone Pickens’ sense of daring and innovation has never been sharper.”–Steve Forbes, president and CEO, Forbes Inc., and editor in chief of Forbes magazine
From the Trade Paperback edition.
At its peak, hedge fund Amaranth Advisors LLC had more than $9 billion in assets. A few weeks later, it completely collapsed. The disaster was largely triggered by one man: thirty-two-year-old hotshot trader Brian Hunter. His high-risk bets on natural gas prices bankrupted his firm and destroyed his career, while John Arnold, his rival at competitor fund Centaurus, emerged as the highest-paid trader on Wall Street. Meticulously researched and character-driven, Hedge Hogs is a riveting fly-on-the-wall account of the largest hedge fund collapse in history: a blistering tale of the recent past that explains our precarious present . . . and may predict our future.
Using emails, instant messages, court testimony, and exclusive interviews, securities analyst turned investigative reporter Barbara T. Dreyfuss charts the colliding paths of these two charismatic traders who dominated the speculative energy market. We follow Brian Hunter, the Canadian farm boy and elbows-out high school basketball star, as he achieves phenomenal early success, only to see his ambition, greed, and hubris precipitate his downfall. Set in relief is the journey of John Arnold, whose mild manner, sophisticated tastes, and low profile belied his own ferocious competitive streak. As the two clash, hundreds of millions of dollars in pension and endowment money is imperiled, with devastating public consequences.
Hedge Hogs takes you behind closed doors into the shadowy world of hedge funds, the unregulated wild side of finance, where over-the-top parties and lavish perks abound and billions of dollars of other people’s money are in the hands of a tiny elite. Dreyfuss traces the rise of this freewheeling industry while detailing the decades of bank, hedge fund, and commodity deregulation that turned Wall Street into a speculative casino.
A gripping saga peppered with fast money, vivid characters, and high drama, Hedge Hogs is also an important and timely cautionary tale—a vivisection of a financial system jeopardized by reckless practices, watered-down regulation, and loopholes in government oversight, just waiting for the next bust.
Praise for Hedge Hogs
“Regulators, legislators and judges inclined to sympathize with the industry ought to rush out and buy a copy of Barbara Dreyfuss’s Hedge Hogs, a wonderfully instructive tale about Amaranth Advisors. . . . Dreyfuss, a Wall Street analyst turned investigative journalist, not only plowed through what turned out to be a treasure trove of official records and transcripts, but supplemented it with plenty of her own reporting. She manages to organize it all into a tight, riveting and understandable yarn.”—The Washington Post
“Clearly and entertainingly told . . . a salutary example of how traders who believe they are super-smart might be nothing more than lucky, and how there is nothing so intoxicating as the ability to speculate with other people’s money.”—The Economist
“[Dreyfuss] does a great job of putting Amaranth’s out-of-control trader into historical context, explaining the blitz of deregulation that set the stage for someone like Hunter to do maximum damage.”—Bloomberg
“The definitive take on the largest hedge fund collapse in history . . . You will not be able to put it down.”—Frank Partnoy, author of F.I.A.S.C.O. and Infectious Greed
Named One of the Top 10 Business & Economics Books of the Season by Publishers Weekly
Key Features: • Impacts of new regulation • Simple and clear explanations of generation, transmission and governance • How cleaner fuels and new technology are transforming the industry • The newest environmental standards
The same Silicon Valley ecosystem that created bit-based technologies that have disrupted atom-based industries is now creating bit- and electron-based technologies that will disrupt atom-based energy industries.
Clean Disruption projections (based on technology cost curves, business model innovation as well as product innovation) show that by 2030:
- All new energy will be provided by solar or wind.
- All new mass-market vehicles will be electric.
- All of these vehicles will be autonomous (self-driving) or semi-autonomous.
- The new car market will shrink by 80%.
- Even assuming that EVs don't kill the gasoline car by 2030, the self-driving car will shrink the new car market by 80%.
- Gasoline will be obsolete. Nuclear is already obsolete.
- Up to 80% of highways will be redundant.
- Up to 80% of parking spaces will be redundant.
- The concept of individual car ownership will be obsolete.
- The Car Insurance industry will be disrupted.
The Stone Age did not end because we ran out of rocks. It ended because a disruptive technology ushered in the Bronze Age. The era of centralized, command-and-control, extraction-resource-based energy sources (oil, gas, coal and nuclear) will not end because we run out of petroleum, natural gas, coal, or uranium. It will end because these energy sources, the business models they employ, and the products that sustain them will be disrupted by superior technologies, product architectures, and business models.
This is a technology-based disruption reminiscent of how the cell phone, Internet, and personal computer swept away industries such as landline telephony, publishing, and mainframe computers. Just like those technology disruptions flipped the architecture of information and brought abundant, cheap and participatory information, the clean disruption will flip the architecture of energy and bring abundant, cheap and participatory energy.
Just like those previous technology disruptions, the Clean Disruption is inevitable and it will be swift.
Named the greatest engineering achievement of the 20th century by the National Academy of Engineering, the electrical grid is the largest industrial investment in the history of humankind. It reaches into your home, snakes its way to your bedroom, and climbs right up into the lamp next to your pillow. At times, it almost seems alive, like some enormous circulatory system that pumps life to big cities and the most remote rural areas.
Constructed of intricately interdependent components, the grid operates on a rapidly shrinking margin for error. Things can -- and do -- go wrong in this system, no matter how many preventive steps we take. Just look at the colossal 2003 blackout, when 50 million Americans lost power due to a simple error at a power plant in Ohio; or the one a month later, which blacked out 57 million Italians. And these two combined don't even compare to the 2001 outage in India, which affected 226 million people.
The Grid is the first history of the electrical grid intended for general readers, and it comes at a time when we badly need such a guide. As we get more and more dependent on electricity to perform even the most mundane daily tasks, the grid's inevitable shortcomings will take a toll on populations around the globe. At a moment when energy issues loom large on the nation's agenda and our hunger for electricity grows, The Grid is as timely as it is compelling.
The book's main focus is primarily on the equipment and processes used in exploring new resources; evaluating promising formations; drilling wells; managing oil and gas production; converting oil and gas into products; and transporting oil and gas. Separate chapters address the evolution and current structure of the petroleum industry; oil and gas trading; and challenges likely to face the oil and gas industry in coming years.
Three appendices define key industry terminology; suggest further reading on selected topics; and identify organizations that can provide more information.
For decades, environmentalists have told us that using fossil fuels is a self-destructive addiction that will destroy our planet. Yet at the same time, by every measure of human well-being, from life expectancy to clean water to climate safety, life has been getting better and better.
How can this be?
The explanation, energy expert Alex Epstein argues in The Moral Case for Fossil Fuels, is that we usually hear only one side of the story. We’re taught to think only of the negatives of fossil fuels, their risks and side effects, but not their positives—their unique ability to provide cheap, reliable energy for a world of seven billion people. And the moral significance of cheap, reliable energy, Epstein argues, is woefully underrated. Energy is our ability to improve every single aspect of life, whether economic or environmental.
If we look at the big picture of fossil fuels compared with the alternatives, the overall impact of using fossil fuels is to make the world a far better place. We are morally obligated to use more fossil fuels for the sake of our economy and our environment.
Drawing on original insights and cutting-edge research, Epstein argues that most of what we hear about fossil fuels is a myth. For instance . . .
Myth: Fossil fuels are dirty.
Truth: The environmental benefits of using fossil fuels far outweigh the risks. Fossil fuels don’t take a naturally clean environment and make it dirty; they take a naturally dirty environment and make it clean. They don’t take a naturally safe climate and make it dangerous; they take a naturally dangerous climate and make it ever safer.
Myth: Fossil fuels are unsustainable, so we should strive to use “renewable” solar and wind.
Truth: The sun and wind are intermittent, unreliable fuels that always need backup from a reliable source of energy—usually fossil fuels. There are huge amounts of fossil fuels left, and we have plenty of time to find something cheaper.
Myth: Fossil fuels are hurting the developing world.
Truth: Fossil fuels are the key to improving the quality of life for billions of people in the developing world. If we withhold them, access to clean water plummets, critical medical machines like incubators become impossible to operate, and life expectancy drops significantly. Calls to “get off fossil fuels” are calls to degrade the lives of innocent people who merely want the same opportunities we enjoy in the West.
Taking everything into account, including the facts about climate change, Epstein argues that “fossil fuels are easy to misunderstand and demonize, but they are absolutely good to use. And they absolutely need to be championed. . . . Mankind’s use of fossil fuels is supremely virtuous—because human life is the standard of value and because using fossil fuels transforms our environment to make it wonderful for human life.”
The book has two themes: one, the idea of preventing damage, and preventing formation from drilling into an oil formation to putting the well introduction stage; and two, the utilization of nodal system analysis method, which optimizes the pressure distribution from reservoir to well head, and plays the sensitivity analysis to design the tubing diameters first and then the production casing size, so as to achieve whole system optimization. With this book, drilling and production engineers should be able to improve operational efficiency by applying the latest state of the art technology in all facets of well completion during development drilling-completion and work over operations.One of the only books devoted to the key technologies for all major aspects of advanced well completion activities.Unique coverage of all aspects of well completion activities based on 25 years in the exploration, production and completion industry.Matchless in-depth technical advice for achieving operational excellence with advance solutions.
Benefits for readers: Functional breakdown and explanation of the typical features, capabilities, and components of a SCADA system; IT and cybersecurity technology and terminology overview and explanation; Industry-specific as well as generalized discussion of SCADA vulnerabilities and available remediation strategies; and Discussion of physical and electronic security issues and strategies
Suitable for the non-technical management level personnel as well as IT personnel without SCADA experience SCADA technology quietly operates in the background of critical utility and industrial facilities nationwide. This important tool efficiently manages utility assets, refineries and other critical industrial segments, but protecting SCADA networks from cyber attacks, hackers and even physical assault is becoming a test of will, cleverness and determination. Cybersecurity for Industrial SCADA provides a high-level overview of this unique technology, with an explanation of each market segment. Readers will understand the vital issues, and learn strategies for decreasing or eliminating system vulnerabilities.
Benefits for readers: Functional breakdown and explanation of the typical features, capabilities, and components of a SCADA system; IT and cybersecurity technology and terminology overview and explanation; Industry-specific as well as generalized discussion of SCADA vulnerabilities and available remediation strategies; and Discussion of physical and electronic security issues and strategies
Suitable for the non-technical management level personnel as well as IT personnel without SCADA experience
Forbes Southwest Bureau chief Christopher Helman has covered the energy industry since 2004. Here youÕll find 21 tales of living legends like Aubrey McClendon, Richard Kinder and Harold Hamm, profiles of energy giants Saudi Aramco, ExxonMobil, Chevron and Total, and interviews with innovators in biofuels and Peak Oil pessimists, along with an investigation into Goldman SachsÕ likely role in manipulating oil prices. For anyone who wants to know how oil impacts our lives and those interested in where the industry is headed, look no further than Booms, Busts And Billionaires: A Decade Of Forbes Oil Stories.
Jim Rogers is leading a grand collaborative effort to bring sustainable, clean electrical power to everyone who lacks it. This reverse engineering, he contends, could solve the energy crises of America and Europe, while also making the world a cleaner, smarter place. But it won't be easy. In Lighting the World, Rogers details the bold thinking, international cooperation, and political will required to illuminate the future for everyone.
With their timely new book, authors Andrew Inkpen and Michael H. Moffett have written a nontechnical book to help readers with technical backgrounds better understand the business of oil and gas. They describe and analyze the global oil and gas industry, focusing on its strategic, financial, and business aspects and addressing a wide range of topics organized around the oil and gas industry value chain, starting with exploration and ending with products sold to consumers.
The Global Oil & Gas Industry is a single source for anyone interested in how the business of the world�s largest industry actually works: business executives, students, government officials and regulators, professionals working in the industry, and the general public.
In Our Renewable Future, energy expert Richard Heinberg and scientist David Fridley explore the challenges and opportunities presented by the shift to renewable energy. Beginning with a comprehensive overview of our current energy system, the authors survey issues of energy supply and demand in key sectors of the economy, including electricity generation, transportation, buildings, and manufacturing. In their detailed review of each sector, the authors examine the most crucial challenges we face, from intermittency in fuel sources to energy storage and grid redesign. The book concludes with a discussion of energy and equity and a summary of key lessons and steps forward at the individual, community, and national level.
The transition to clean energy will not be a simple matter of replacing coal with wind power or oil with solar; it will require us to adapt our energy usage as dramatically as we adapt our energy sources. Our Renewable Future is a clear-eyed and urgent guide to this transformation that will be a crucial resource for policymakers and energy activists.
In its desperate search for oil and gas riches, Alberta is destroying itself. As the world teeters on the edge of catastrophic climate change, Alberta plunges ahead with uncontrolled development of its fossil fuels, levelling its northern Boreal forest to get at the oil sands, and carpet-bombing its southern half with tens of thousands of gas wells. In so doing, it is running out of water, destroying its range land, wiping out its forests and wildlife and spewing huge amounts of greenhouse gases into the atmosphere, adding to global warming at a rate that is unrivalled in Canada or almost anywhere else in the world. It’s digging, drilling and blasting its way to oblivion, becoming the ultimate symbol of Canada’s – and the world’s – pathological will to self-destruct.
Nowhere has the world seen such colossal environmental destruction as is being wreaked on Alberta. At one point the province even went so far as to consider a scientist’s idea of nuking its underbelly to get at the tar sands. Stupid to the Last Drop looks at the increasingly violent geopolitical forces that are gathering as the world’s gas and oil dwindle and the Age of Oil begins its inevitable slide towards oblivion. As Canadians deplete their energy reserves, selling them off to Americans at bargain-basement prices, no thought is given to conservation or the long-term needs of the nation.
In this powerful polemic, William Marsden journeys across the heart of a province seized by the destructive forces of greed, power and the energy business, and envisions a very bleak future.
From the Hardcover edition.
Each new disaster demonstrates that the nuclear industry and governments lie to "avoid panic," to preserve the myth of "safe, clean" nuclear power, and to sustain government subsidies. Tokyo and Washington both covered up Fukushima's radiation risks and-when confronted with damning evidence-simply raised the levels of "acceptable" risk to match the greater levels of exposure.
Nuclear Roulette dismantles the core arguments behind the nuclear-industrial complex's "Nuclear Renaissance." While some critiques are familiar-nuclear power is too costly, too dangerous, and too unstable-others are surprising: Nuclear Roulette exposes historic links to nuclear weapons, impacts on Indigenous lands and lives, and the ways in which the Nuclear Regulatory Commission too often takes its lead from industry, rewriting rules to keep failing plants in compliance. Nuclear Roulette cites NRC records showing how corporations routinely defer maintenance and lists resulting "near-misses" in the US, which average more than one per month.
Nuclear Roulette chronicles the problems of aging reactors, uncovers the costly challenge of decommissioning, explores the industry's greatest seismic risks-not on California's quake-prone coast but in the Midwest and Southeast-and explains how solar flares could black out power grids, causing the world's 400-plus reactors to self-destruct. This powerful exposé concludes with a roundup of proven and potential energy solutions that can replace nuclear technology with a "Renewable Renaissance," combined with conservation programs that can cleanse the air, and cool the planet.
Perhaps no president has a more ambiguous reputation than LBJ. A brilliant tactician, he maneuvered colleagues and turned bills into law better than anyone. But he was trailed by a legacy of underhanded dealings, from his "stolen” Senate election in 1948 to kickbacks he artfully concealed from deals engineered with Texas wheeler-dealer Billie Sol Estes and defense contractors like his longtime supporter Brown & Root. On the verge of investigation, Johnson was reprieved when he became president upon JFK's assassination. Among the remaining mysteries has been LBJ's relationship to Mac Wallace who, in 1951, shot a Texas man having an affair with LBJ's loose-cannon sister Josefa, also Wallace's lover. When arrested, Wallace cooly said "I work for Johnson…I need to get back to Washington." Charged with murder, he was overnight defended by LBJ's powerful lawyer John Cofer, and though convicted, amazingly received a suspended sentence. He then got high-security clearance from LBJ friend and defense contractor D.H. Byrd, which the Office of Naval Intelligence tried to revoke for 11 years without success.
Using crucial Life magazine and Naval Intelligence files and the unredacted FBI files on Mac Wallace, never before utilized by others, investigative writer Joan Mellen skillfully connects these two disparate Texas lives and lends stark credence to the dark side of Lyndon Johnson that has largely gone unsubstantiated.
Marcus Samuel, Jr., is an unorthodox Jewish merchant trader. Henri Deterding is a take-no-prisoners oilman. In 1889, John D. Rockefeller is at the peak of his power. Having annihilated all competition and possessing near-total domination of the market, even the U.S. government is wary of challenging the great “anaconda” of Standard Oil. The Standard never loses—that is until Samuel and Deterding team up to form Royal Dutch Shell.
A riveting account of ambition, oil, and greed, Breaking Rockefeller traces Samuel’s rise from outsider to the heights of the British aristocracy, Deterding’s conquest of America, and the collapse of Rockefeller’s monopoly. The beginning of the twentieth century is a time when vast fortunes were made and lost. Taking readers through the rough and tumble of East London’s streets, the twilight turmoil of czarist Russia, to the halls of the British Parliament, and right down Broadway in New York City, Peter Doran offers a richly detailed, fresh perspective on how Samuel and Deterding beat the world’s richest man at his own game.
Inside you'll find: • A new chapter on asset retirement obligations and asset impairment • An added section on project analysis and investment decision making • Updated coverage of asset exchanges and fair value reporting requirements • Thorough discussion of oil and gas pricing and marketing arrangements • Updated examples and homework problems
Taking a uniquely cross-disciplinary, accessible approach, Sanderson delves into natural history, architecture, chemistry, and politics, to show how the American relationship to nature shaped our past and predicates our future. Illustrated throughout with maps, charts, and infographics, the book suggests how we achieve a better world through a self-reinforcing cycle of tax reform, retrofitted towns and cities, bicycles and streetcars, and investment in renewable energy.
Praise for Terra Nova:
“If you’re going to read one book on the end of oil and the future of energy, make it this one. Eric Sanderson has thought deeply about the impact of our petroleum-dependent economy, how we got here, and where we’re headed. You may not agree with everything you read here, but this book should be the launching point for a desperately needed discussion about our modern way of life.” —Daniel H. Pink, New York Times bestselling author of Drive and To Sell Is Human
“The highly readable text is complemented by illustrations, including maps, statistical tables, and extensive notes. VERDICT: The information supplied here would be difficult to find elsewhere. This book is recommended for all readers interested in the future of the United States and for both public and academic library collections.”
“Likening oil, cars, and suburbs to modern-day Sirens, those ‘beautiful winged monsters’ that tempted Odysseus with their songs, conservation ecologist Sanderson (Mannahatta) discourages an over-reliance on these things in this well-intentioned cautionary volume. The comparison is an ambitious one he employs throughout, believing they could doom Americans the way the Sirens would have doomed Odysseus, had he succumbed to their choruses . . . . Sanderson commendably outlines ‘a new way of life . . . designed to sustain American prosperity, health, and freedom for generations to come,’ but whether his suggestions or admonitions will be taken seriously is another matter entirely.”
Contents:Introduction and SummaryPapers in Finance:Longevity Risk Management for Individual Investors (Woo Chang Kim, John M Mulvey, Koray D Simsek and Min Jeong Kim)Optimal Stochastic Programming-Based Personal Financial Planning with Intermediate and Long-Term Goals (Vittorio Moriggia, Giorgio Consigli and Gaetano Iaquinta)Intertemporal Surplus Management with Jump Risks (Mareen Benk)Jump-Diffusion Risk-Sensitive Benchmarked Asset Management (Mark Davis and Sébastien Lleo)Dynamic Portfolio Optimization under Regime-Based Firm Strength (Chanaka Edirisinghe and Xin Zhang)Options Portfolio Management as a Chance Constrained Problem (Dmitry Golembiovsky and Anatoliy Abramov)Stochastic Models for Optimizing Immunization Strategies in Fixed-Income Security Portfolios under Some Sources of Uncertainty (Larraitz Aranburu, Laureano F Escudero, M Araceli Garín and Gloria Pérez)Stochastic Programming and Optimization in Horserace Betting (William T Ziemba)Papers in Production Planning and Logistics:Multi-Stage Stochastic Programming for Natural Gas Infrastructure Design with a Production Perspective (Lars Hellemo, Kjetil Midthun, Asgeir Tomasgard and Adrian Werner)A Stochastic Programming Model for Optimizing the Production of Farmed Atlantic Salmon (Martin B Hæreid, Peter Schütz and Asgeir Tomasgard)Prioritizing Network Interdiction of Nuclear Smuggling (Dennis P Michalopoulos, David P Morton and J Wesley Barnes)Sawmill Production Planning under Uncertainty: Modelling and Solution Approaches (Masoumeh Kazemi Zanjani, Mustapha Nourelfath and Daoud Ait-Kadi)Papers on Energy:An Electricity Procurement Model with Energy and Peak Charges (Andy Philpott and Geoff Pritchard)A Stochastic Game Model Applied to the Nordic Electricity Market (Stein-Erik Fleten and Tek Tjing Lie)Multi-Lag Benders Decomposition for Power Generation Planning with Nonanticipativity Constraints on the Dispatch of LNG Thermal Plants (Andre L Diniz and Maria E P Maceira)Papers on Telecommunications:Stochastic Second-Order Cone Programming in Mobile Ad-Hoc Networks: Sensitivity to Input Parameters (Francesca Maggioni, Marida Bertocchi, Elisabetta Allevi, Florian A Potra and Stein W Wallace)Stochastic Frequency Assignment Problem (Wadie Benajam, Alexei Gaivoronski and Abdel Lisser)
Readership: Advanced undergraduate students, graduate students and researchers who are interested in the applications of stochastic programming.
Keywords:Stochastic Programming;Optimization with Scenarios;Finance;Energy;Production and Logistics ApplicationsReviews:
“The solution and the modeling of stochastic programming problems relies on a wide swath of disciplines ranging from Optimization, Variational and Functional Analysis, Probability and Statistics, Economics, Computer Sciences, not forgetting the use of truly creative heuristics. Not surprisingly, the development of the field often took a back seat to other more 'accessible' areas in mathematical programming. Eventually however, the realization that nearly all important decision problems involve some level of uncertainty about some of the parameters, couldn't really be ignored. These proceedings, by featuring a wide range of important applications, pay tribute to what in the final analysis, motivates the efforts of what by now has become a significant community.”Roger Wets
Distinguished Research Professor
University of California
“Methodological advancements in stochastic programming, coupled with modern computational capabilities, now provide invaluable toolsets for addressing complex decision problems under uncertainty. This volume showcases state-of-the-art models and solution methods for a range of practical applications. It is a highly recommended and valuable reference for researchers and practitioners alike.”Hercules Vladimirou
Professor of Management Science
Chairman, Department of Public and Business Administration, University of Cyprus
“Like its predecessor volumes, this conference proceedings is an up-to-date record of the current status of the maturing field of stochastic programming. Its advance is supported here by articles which report on practical applications in finance, production, logistics, energy and telecommunications. The result is a current and invaluable collection for both academics and practitioners which will stimulate further widening of this important field.”M A H Dempster
Professor Emeritus, Center for Financial Research
Department of Pure Mathematics and Statistics, University of Cambridge
& Cambridge Systems Associates Limited, Cambridge UK
Economist and resource analyst Jeff Rubin is certain that the world's governments are getting it wrong. Instead of moving us toward economic recovery, the measures being taken around the globe right now are digging us into a deeper hole. Both politicians and economists are missing the fact that the real engine of economic growth has always been cheap, abundant fuel and resources. But that era is over. The end of cheap oil, Rubin argues, signals the end of growth--and the end of easy answers to renewing prosperity.
With China and India sucking up the lion's share of the world's ever more limited resources, the rest of us will have to make do with less. But is this all bad? Rubin points out that there is no research to show that people living in countries with hard-charging economies are happier, and plenty of research to show that some of the most contented people on the planet live in places with no growth or slow growth. But bad or good, it's the new reality, and Rubin reveals how our day-to-day lives will be drastically changed.
Susquehanna County, in the remote northeastern corner of Pennsylvania, is a community of stoic, low-income dairy farmers and homesteaders seeking haven from suburban sprawl—and the site of the Marcellus Shale, a natural gas deposit worth more than one trillion dollars. In The End of Country, journalist and area native Seamus McGraw opens a window on the battle for control of this land, revealing a conflict that pits petrodollar billionaires and the forces of corporate America against a band of locals determined to extract their fair share of the windfall—but not at the cost of their values or their way of life. Rich with a sense of place and populated by unforgettable personalities, McGraw tells a tale of greed, hubris, and envy, but also of hope, family, and the land that binds them all together.
“To tell a great story, you need a great story. Seamus McGraw . . . has lived a great story. . . . [He] is just one of its many characters—very real characters—caught up in a very human story in which they must make tough, life-altering decisions for themselves, their community, and ultimately their country.”—Allentown Morning Call
“Compelling . . . The End of Country is like a phone call from a close friend or relative living smack-dab in the middle of the Pennsylvania gas rush. . . . Anyone with even a passing interest in the [fracking debate should] read it.”—Harrisburg Patriot-News
“This cautionary tale should be required reading for all those tempted by the calling cards of easy money and precarious peace of mind.”—Tom Brokaw
“A page-turner . . . McGraw brings us to the front lines of the U.S. energy revolution to deliver an honest and humbling account that could hardly possess greater relevance.”—The Humanist
The oil topping point–the day half of all the world’s oil is used up–will be reached, by many calculations, sometime soon. In fact, it may already be upon us. When the financial markets realize what’s happening, an economic crash and soaring energy prices will result. The entire global marketplace we all inhabit will crack and crumble.
Oil companies and governments don’t want you to know this. They have been covering up depletion, while stoking addiction and holding back alternatives. Leggett shows how major energy producers have been exposed providing false information about climate change and underground reserves.
He describes how governments collude with private enterprise and one another to keep the global economy hooked on oil. And he explains the science behind oil extraction, demonstrating with unimpeachable expertise why the well is indeed running dry a lot faster than we think.
Written with verve and eloquence, The Empty Tank explains how we became addicted to oil and why that addiction is leading us toward disaster. Yet Leggett also points the way forward. All the technology we need to get off the road to disaster is already at hand. A new Manhattan Project for energy can save us if we can wake up and confront the problem directly, as this important book urges us to do.
"Among the shelf full of books on the oil situation that have been published in the last year or so, (this) is far and away the best."
-Lester Brown, President of the Earth Policy Institute
What’s it all about? ... tough titles made simple by David Shukman
THE EMPTY TANK by Jeremy Leggett
WHAT’S IT ALL ABOUT?
OIL, gas, hot air and the global energy crisis, according to the explanation on the front cover. Delving into the nightmare scenario of mankind sleepwalking to global disaster, this book focuses on two related dangers: how we’ll run out of oil far sooner than we think and how burning what’s left of it will warm our planet to a catastrophic level. The central contention is that the oil industry is in a state of denial about the size of its reserves. The scandal over Shell’s distortion of its real figures is said to be the tip of the iceberg. And the conclusion is stark: that we’re all using the black stuff at a far faster rate than geologists are finding new deposits, and that as soon as the truth gets out there’ll be panic in the markets, soaring prices and a mega-crash. It’s scary.
SO IS IT READABLE?
YES, though towards the end some sections lapse into lists of points. But the writing is always clear and conveys complicated but important technicalities in very accessible terms.
DAVID SHUKMAN is environment & science correspondent for BBC News
Daily Mail, 18 November 2005
From the Hardcover edition.
Utilising examples from real-life systems and challenges, this book clearly and succinctly outlines fundamental knowledge requirements for working in this area. Written by engineers for engineers, theory is tied to current best-practice, and new chapters cover hot topics including DC Transmission, Smart Networks and bringing renewable sources into the grid. Particularly useful for power engineers starting out on their career, this new edition ensures Bayliss remains an essential ‘tool of the trade’ for all engineers, technicians, managers and planners involved in electricity supply and industrial electricity usage.Updated to ensure that the book continues to deliver all the fundamental knowledge requirements of practicing power engineers in a single volumeHigh profile authors with extensive career-long knowledge of the industry30% new and revised content includes new chapters on renewable and distributed energy sourcesExpanded coverage of power quality, latest EMC standards and requirements, earthing and bonding, surge protection, line design and switchgear developments
Sherron knew Enron well enough to know that the company was in extreme spin mode…
Power Failure is the electrifying behind-the-scenes story of the collapse of Enron, the high-flying gas and energy company touted as the poster child of the New Economy that, in its hubris, had aspired to be “The World’s Leading Company,” and had briefly been the seventh largest corporation in America.
Written by prizewinning journalist Mimi Swartz, and substantially based on the never-before-published revelations of former Enron vice-president Sherron Watkins, as well as hundreds of other interviews, Power Failure shows the human face beyond the greed, arrogance, and raw ambition that fueled the company’s meteoric rise in the late 1990s. At the dawn of the new century, Ken Lay’s and Jeff Skilling's faces graced the covers of business magazines, and Enron’s money oiled the political machinery behind George W. Bush’s election campaign. But as Wall Street analysts sang Enron’s praises, and its stock spiraled dizzyingly into the stratosphere, the company’s leaders were madly scrambling to manufacture illusory profits, hide its ballooning debt, and bully Wall Street into buying its fictional accounting and off-balance-sheet investment vehicles. The story of Enron’s fall is a morality tale writ large, performed on a stage with an unforgettable array of props and side plots, from parking lots overflowing with Boxsters and BMWs to hot-house office affairs and executive tantrums.
Among the cast of characters Mimi Swartz and Sherron Watkins observe with shrewd Texas eyes and an insider’s perspective are: CEO Ken Lay, Enron’s “outside face,” who was more interested in playing diplomat and paving the road to a political career than in managing Enron’s high-testosterone, anything-goes culture; Jeff Skilling, the mastermind behind Enron’s mercenary trading culture, who transformed himself from a nerdy executive into the personification of millennial cool; Rebecca Mark, the savvy and seductive head of Enron’s international division, who was Skilling’s sole rival to take over the company; and Andy Fastow, whose childish pranks early in his career gave way to something far more destructive. Desperate to be a player in Enron’s deal-making, trader-oriented culture, Fastow transformed Enron’s finance department into a “profit center,” creating a honeycomb of financial entities to bolster Enron’s “profits,” while diverting tens of millions of dollars into his own pockets
An unprecedented chronicle of Enron’s shocking collapse, Power Failure should take its place alongside the classics of previous decades – Barbarians at the Gate and Liar’s Poker – as one of the cautionary tales of our times.
From the Hardcover edition.
Written in an easy-to-understand style, the text acquaints students with the physical phenomena and technical problems associated with high voltages in power systems. A complete quantitative description of the topics in high voltage engineering is difficult because of the statistical nature of the electrical breakdown phenomena in insulators. With this in mind, this book has been written to provide a basic treatment of high voltage engineering qualitatively, and wherever necessary quantitatively.
Special emphasis has been laid on breakdown mechanisms in gaseous dielectrics as it helps students gain a sound conceptual base for appreciating high voltage problems. The origin and nature of lightning and switching overvoltages occurring in power systems have been explained and illustrated with practical observations. Protection of high voltage insulation against such overvoltages has also been discussed lucidly. Concept of modern digital methods of high voltage testing of insulators, transformers, and cables has been explained.
Solved problems help students develop a critical appreciation of the concepts discussed. End-of-chapter questions enable students to obtain a more in-depth understanding of the key concepts.
This timely second edition of Power Plant Construction Management: A Survival Guide is revised and updated to include new technologies, evolving regulations, and the changing power generation mix between gas and coal plants. Hessler expands upon the first edition and provides a thorough plan for managing the financials of building a power plant. He covers the entire process from preplanning to contingency planning to the business of on-site construction management. The book includes checklists, guidelines, photos, and examples that serve as useful tools in the decision-making process. With a focus on finances, management skills, regulations, technology, and much more, this book is a must-read for anyone with a stake in the power plant construction process.
--The New York Times Book Review
On April 5, 2010, an explosion ripped through Massey Energy's Upper Big Branch Mine, killing twenty-nine coal miners. This tragedy was the deadliest mine disaster in the United States in forty years—a disaster that never should have happened. These deaths were rooted in the cynical corporate culture of Massey and its notorious former CEO Don Blankenship, and were part of an endless cycle of poverty, exploitation, and environmental abuse that has dominated the Appalachian coalfields since coal was first discovered there. And the cycle continues unabated as coal companies bury the most insidious dangers deep underground, all in search of higher profits, and hide the true costs from regulators, unions, and investors alike.
But the disaster at Upper Big Branch goes beyond the coalfields of West Virginia. It casts a global shadow, calling into bitter question why coal miners in the United States are sacrificed to erect cities on the other side of the world, why the coal wars have been allowed to rage, polarizing the country, and how the world's voracious appetite for energy is satisfied at such horrendous cost.
With Thunder on the Mountain, Peter A. Galuszka pieces together the true story of greed and negligence behind the tragedy at the Upper Big Branch Mine, and in doing so he has created a devastating portrait of an entire industry that exposes the coal-black motivations that led to the death of twenty-nine miners and fuel the ongoing war for the world's energy future.
Features & Benefits:
Project Design: How to create a successful program design and account for unique project factors
Project Planning: How to spend the first 90 days building a project management and system engineering baseline that can be executed successfully
Project Monitoring and Control: What project controls are needed and how to implement them
The giant dams of today are the modern Pyramids, colossally expensive edifices that generate monumental amounts of electricity, irrigated water, and environmental and social disaster.
With Deep Water, Jacques Leslie offers a searching account of the current crisis over dams and the world's water. An emerging master of long-form reportage, Leslie makes the crisis vivid through the stories of three distinctive figures: Medha Patkar, an Indian activist who opposes a dam that will displace thousands of people in western India; Thayer Scudder, an American anthropologist who studies the effects of giant dams on the peoples of southern Africa; and Don Blackmore, an Australian water manager who struggles to reverse the effects of drought so as to allow Australia to continue its march to California-like prosperity.
Taking the reader to the sites of controversial dams, Leslie shows why dams are at once the hope of developing nations and a blight on their people and landscape. Deep Water is an incisive, beautifully written, and deeply disquieting report on a conflict that threatens to divide the world in the coming years.
The tale spans a generation and more, and it begins with the early wind pioneers, precocious idealists who saw opportunity after the 1970s oil crisis. Operating in an economy accustomed to exploiting natural resources and always looking for the next big thing, their ideas eventually led to surprising partnerships between entrepreneurs and environmentalists, as everyone from Enron executives to T. Boone Pickens, as well as Ann Richards, George W. Bush and Rick Perry, ended up backing the new technology. In this down-to-earth account, the authors explain the policies and science that propelled the “windcatters” to reap the great harvest of Texas wind. They also explore what the future holds for this relentless resource that is changing the face of Texas energy.