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At the end of the first decade of the 21st century, the human race finds itself caught in an "energy trap." Carbon-rich fossil fuels--coal, petroleum and natural gas--are firmly entrenched as the dominant sources of our energy and power. Their highly concentrated forms, versatility of use, ease of transport and storage, ready availability, and comparatively low costs combine to give fossil fuels an unassailable competitive advantage over all alternative sources of energy. This economic reality means that fossil fuels will inevitably continue to be the backbone of the global economy for the...

Oil is the most vital resource of our time. Because it is so important, misperceptions about the black gold abound. Leonardo Maugeri clears the cobwebs by describing the colorful history of oil, and explaining the fundamentals of oil production. He delivers a unique, fascinating, and controversial perspective on the industry--as only an insider could. The history of the oil market has been marked, since its inception, by a succession of booms and busts, each one leading to a similar psychological climax and flawed political decisions. In a single generation, we've experienced the energy...