Book: “Future Energy”

I read the book Future Energy: How the new oil industry will change people, politics and portfolios. The author is Bill Paul.

It was ok. His idea was to explain various opportunities and identifies specific companies to “watch” (presumably, potential investments).

He believes that “well meaning but misguided people” should stop tring to get Americans to drive less. But then goes on to support the idea of TGR (Tradable Gasoline Rights) which is really just a a government imposed free-market solution to make gasoline more expensive. Which would, of course, lessen demand. He also fully supports the notion that imported oil carries hidden costs and is detrimental to our foreign policy. He quotes Milton Copulos’s testimony before the senate foreign relations committee at length in Appendix B: Primer on Why Gasoline’s True Cost in 2006 was more than $11 a gallon. I should point out that these figures only take into account the externalites surrounding the military, and makes no allowance for any of the many other social costs of gasoline consumption / automobile use (mayhem, pollution, free parking, etc.).

The whole TGR thing is very interesting, but logistically horrendously complex. It was laid out in a WSJ op-ed piece by Martin Feldstein who is a Harvard Economics prof.