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Lacalle Daniel. The Energy World is Flat
Dedication
Disclaimer
Chapter One. The Mother of All Battles. The Flattening and Globalization of the Energy World
Nuclear politics
The sustained spike in natural gas prices
Fracking and the collapse in US natural gas prices
US tight oil
Geopolitics and high crude oil prices
Expensive oil, cheap natural gas
The market does not attack, it defends itself
Winners and losers
Chapter Two. Lessons from the Internet Revolution and the Dotcom Bubble
The bubble path
Think “against the box”
Lessons not to forget
Chapter Three. The 10 Forces that are Flattening the Energy World
Is the energy world flat?
Chapter Four. Flattener #1 – Geopolitics: The Two Sides of the Energy Security Coin
The oil weapon
The gas weapon
Chapter Five. Flattener #2 – The Energy Reserves and Resources Glut
What energy scarcity?
Reserves and resources
Crude oil concentration, but no shortage
OPEC almighty
Reserve protectionism
Marginal cost of production
The “unconventional” resources
Discoveries vs. additions: “can we rely on finding new oil fields?”
Sorry, no peak oil
No peak gas either
Chapter Six. Flattener #3 – Horizontal Drilling and Fracking
Never bet against an engineer
Technology increases volume
Technology reduces costs
Innovation vs. imitation
“Fracking” and horizontal drilling
Myths and realities of shale gas and tight oil
Chapter Seven. Flattener #4 – The Energy Broadband
Pipelines open new markets
LNG and the globalization of natural gas
Storage bottlenecks and commodity islands
Shipping, floating pipelines and storage
Chapter Eight. Flattener #5 – Overcapacity
Déjà-Vu
Diplomatic demand outlook
Saudi Arabia heavy sour crude oil
Location, location, location
Pro-cyclical behaviour
Chapter Nine. Flattener #6 – Globalization, Industrialization, and Urbanization
Testing the hypothesis of “Ever-Increasing” demand
The “Diplomatic” demand clause
Chapter Ten. Flattener #7 – Demand Destruction
More with less
The “Invisible Hand” of efficiency
The “Visible Hand” of efficiency
Chapter Eleven. Flattener #8 – Demand Displacement
The battle for transportation demand
What the production engineers missed
The “Challengers”
The end of crude oil's monopoly in transportation
The new frontier: hydrogen fuel
“Who killed the electric car?”
The battle for electricity and industrial demand
The energy domino
Chapter Twelve. Flattener #9 – Regulation and Government Intervention
The role of the government
Regulation vs. free markets. The virtuous mix of regulation and free markets
The vicious mix of regulation and politics
Carrot and stick
Privatization and deregulation are not the same
Independence of the regulator
The political cycle is too short
The war on pollution and coal. The war on pollution
The war on coal
Renewable energy and the disinflation of power prices
The world of wind power is becoming flat
The world of solar power is far from flat
Biofuels and Food Inflation
Chapter Thirteen. Flattener #10 – Fiscal, Monetary, and Macroeconomic Flatteners
The “OPEC put”
Energy consumption in producing countries
Mortgaged future production
The paradox of plenty
The oil tax weapon
Monetary experiments and the credit risk time bomb. Monetary experiments
Financial flows. Let's blame the speculators
Chapter Fourteen. Implications and Opportunities in the Financial Markets
Concluding Remarks
APPENDIX. For A Competitive European Energy Policy
The Oil Price War: Another Chapter in the Mother of All Battles
Index
