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.
With The Politics of Resentment, Katherine J. Cramer uncovers an oft-overlooked piece of the puzzle: rural political consciousness and the resentment of the “liberal elite.” Rural voters are distrustful that politicians will respect the distinct values of their communities and allocate a fair share of resources. What can look like disagreements about basic political principles are therefore actually rooted in something even more fundamental: who we are as people and how closely a candidate’s social identity matches our own. Using Scott Walker and Wisconsin’s prominent and protracted debate about the appropriate role of government, Cramer illuminates the contours of rural consciousness, showing how place-based identities profoundly influence how people understand politics, regardless of whether urban politicians and their supporters really do shortchange or look down on those living in the country.
The Politics of Resentment shows that rural resentment—no less than partisanship, race, or class—plays a major role in dividing America against itself.
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
In Big, Hot, Cheap, and Right, Grieder traces the political history of a state that was always larger than life. From its rowdy beginnings, Texas has combined a long-standing suspicion of government intrusion with a passion for business. Looking to the present, Greider assesses the unique mix of policies on issues like immigration, debt, taxes, regulation, and energy, which together have sparked a bonafide Texas Miracle of job growth. While acknowledging that it still has plenty of twenty-first-century problems to face, she finds in Texas a model of governance whose power has been drastically underestimated. Her book is a fascinating exploration of America's underrated powerhouse.
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
In Corrupt Illinois, veteran political observers Thomas J. Gradel and Dick Simpson take aim at business-as-usual. Naming names, the authors lead readers through a gallery of rogues and rotten apples to illustrate how generations of chicanery have undermined faith in, and hope for, honest government. From there, they lay out how to implement institutional reforms that provide accountability and eradicate the favoritism, sweetheart deals, and conflicts of interest corroding our civic life.
Corrupt Illinois lays out a blueprint to transform our politics from a pay-to-play–driven marketplace into what it should be: an instrument of public good.
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.
This book will appeal to at students, non-lawyers involved with water issues, and general readers interested in Colorado’s complex water rights law.
Except in Texas.
While unemployment soars elsewhere, Texans are hard at work. While small businesses across the country are going under, Texas entrepreneurs are thriving. While large companies are being squeezed by taxes, regulations and unions, more and more corporations are moving to Texas to grow and expand. While people of faith are ridiculed and marginalized in most cities on both coasts, in Texas churches and synagogues are bursting at the seams.
How did Texas embrace what the rest of America seems to have forgotten? In Lonestar America, popular talk radio show host Mark Davis presents a powerful case for economic prosperity, individual freedom, strong families, and even stronger pride of place – alive and kicking in Texas, and easily exportable to the rest of America.
Davis shows how Texas has done it, how some “honorary Texans” in other states (governors and even local communities) have adopted some of the same policies and approaches, and how states across the country can reclaim the promise of the American dream.
The Power of the Texas Governor takes a fresh look at the state's chief executives, from John Connally to George W. Bush, to discover how various governors have overcome the institutional limitations of the office. Delving into the governors' election campaigns and successes and failures in office, Brian McCall makes a convincing case that the strength of a governor's personality—in particular, his or her highly developed social skills—can translate into real political power. He shows, for example, how governors such as Ann Richards and George W. Bush forged personal relationships with individual legislators to achieve their policy goals. Filled with revealing insights and anecdotes from key players in each administration, The Power of the Texas Governor offers new perspectives on leadership and valuable lessons on the use of power.
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'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.
As students and their families struggle to meet rising tuition prices, and as state funding for higher education dwindles, policymakers confront issues of affordability within state and institutional budgets. Changing demographics and challenges to affirmative action complicate the admissions process even as colleges and universities seek to diversify enrollments. And issues of institutional accountability have forced the restructuring of higher education governing boards and a reexamination of the role of public trustees in governance.
This collection analyzes how issues of affordability, access, and accountability influence the way in which state governments approach, monitor, and set public higher education policy. The contributors examine the latest research on pressing challenges, explore how states are coping with these challenges, and consider what the future holds for public postsecondary education in the United States.
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.
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 worldís largest industry actually works: business executives, students, government officials and regulators, professionals working in the industry, and the general public.
Upon completion of developing the facility layouts, the next phase of my responsibilities involved coordination with design consultants hired by the LIRR. The consultants were responsible for the architectural and structural designs of the new maintenance facility. The consultans typically were selected based on political connections and not their level of expertise. The design phase was muddled with incompetence and waste. Inept project management would add tens of millions of dollars and lengthly delays to the construction phase of the project. Upon completion of construction, a new regime intent on maintaining the status quo within the LIRR assues control of the new maintenance facility. The new regime is not committed to capitalizing on the labor efficiencies offered by the new facility. Key positions are then filled with managers' intent in preserving the traditional inefficient ways of the LIRR. My story concludes with the agendas of the new regime and conflicts with those who were trying to transform the LIRR into a socially responsible institution. My trials and tribulations along with personal victories and setbacks are all the basis of my book.
David Kenney and Barbara L. Brown begin by describing the role of states in the federal system and the basic nature of Illinois as a governmental entity. Next they offer a thorough description of the policy-making process in government. They discuss the three political regions of Illinois--Chicago, Cook County and the collar counties, and downstate--and they outline recent trends in Illinois voter turnout, ticket splitting, party organization, the election schedule, voter qualifications, and the regulation of campaign finance.
The problems created by the decennial redrawing of district lines, including the redistricting of 1991, are covered in Kenney and Brown's treatment of the legislative branch of the government. Special emphasis is given to the question of who goes to the General Assembly and who its leaders are, along with a full description of the legislative procedure.
Turning to the executive branch, Kenney and Brown first focus on the office of governor. Considerable attention is given to the multiple terms of James R. Thompson, Illinois' longest serving governor, and the election in 1991 of James Edgar. The authors conclude the chapter with a description of the administrative structure of the executive branch.
The Illinois court system and the jurisdictions of its three levels are presented as Kenney and Brown turn to the judicial branch of government. They provide biographical information on each of the current justices of the Illinois Supreme Court with particular emphasis on their partisanship. The judgeship selection process is carefully considered and Operation Greylord, which revealed pervasive corruption in the Cook County courts, is discussed. As is the case in each of the chapters on the branches of government, Kenney and Brown offer detailed descriptions of current public officials.
Basic Illinois Government also includes chapters on local government, state and local finance, and policy-making issues in education, corrections, welfare, and transportation. In the local government section Kenney and Brown make clear the powers and functions of counties, townships, special districts, and municipal corporations, giving special attention to Chicago and Cook County. They compare the taxing and spending policies of Illinois to those of the rest of the United States and review in detail the controversial income tax increase of 1983 and 1989 with its extension in 1991.
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 currenergy 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 mcrucial 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 urgguide 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.
Key features include:
Thematically organised, with individual chapters exploring issues such as colonialism, ethnicity, nationalism, religion, social class, ideology, legitimacy, authority, sovereignty and democracy.
Identifies key recurrent themes such as the competitive relationships between the African state, its civil society and external interests.
Contains useful boxed case studies at the end of each chapter, including: Kenya, Tanzania, Nigeria, Botswana, Côte d’Ivoire, Uganda, Somalia, Ghana, Democratic Republic of the Congo and Zimbabwe.
Each chapter concludes with key terms and definitions, as well as questions and advice on further reading.
This textbook is essential reading for students seeking an accessible introduction to the complex social relationships and events that characterise the politics of post-colonial Africa.
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