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Oil's Endless Bid: Taming the Unreliable Price of Oil to Secure Our Economy
ISBN: 0470915625     Date Published: 2011-04-12     Author(s): Dan Dicker
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Hardcover
Wiley
338 Pages
 
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06/20/2013 01:32:05
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Editorial Review - Book Description:
Expert analysis of rising oil prices and the out-of-control oil markets that jeopardize both national security and the economy

The price of oil is negatively impacting both companies and consumers. In Oil's Endless Bid: Taming the Unreliable Price of Energy to Secure Our Economy, energy analyst Dan Dicker recalls his experiences as an oil trader and reveals the changes that have taken place in the oil markets during the past twenty years, and particularly the last five, as investment banks, energy hedge funds, and managed futures funds have come to dominate energy trading and wreak havoc on prices.

  • Reveals why oil prices cannot stabilize without dramatic action on the part of both government and business
  • Details how the novel, but wrong, idea of oil as an asset class took a sleepy, club-like market into the national spotlight
  • Describes how the United States is unnecessarily handing its wealth over to foreign oil producers during a time when the potential supply of oil is greater than ever

Written by an industry insider, Oil's Endless Bid analyzes the biggest financial story of the last ten years?how we lost control of our oil markets.

 
Customer Review:
Total Reviews: (25)
  (17)      (5)      (1)      (0)      (2)
(3) Shared
 
13 of 14 People found the following review helpful.

Insightful, informative and entertaining, April 19, 2011 ByAl N. Roy - See all my reviews Amazon Verified Purchase(What's this?) This review is from: Oil's Endless Bid: Taming the Unreliable Price of Oil to Secure Our Economy (Hardcover) Dicker's book is more than an expert explanation and analysis of the oil markets and of the speculative debacle they have become, and an astute call for regulation. It is an insider's look at the exotic world of New York floor traders and Texas oilmen; it entertains us with stories from the trading pits, putting us right in the thick of it. Although not intended as an investment guide, the book illuminates commodities trading strategies and their advantages and pitfalls. On this subject, Dicker, a successful trader on the New York Mercantile Exchange, is unusually well-qualified. After reading "Oil's Endless Bid", I have a thorough knowledge of the oil and oil by-products markets and of trading strategy terminology. Most importantly, I have plenty to think about regarding the effects of rampant speculation on the price of oil and how that influences the U.S. and world economies and our everyday lives.
 
9 of 10 People found the following review helpful.

This book is worth the effort! Great job Dan!1, April 15, 2011 ByPaul Nunes "Paul Nunes" (Kansas City) - See all my reviews Amazon Verified Purchase(What's this?) This review is from: Oil's Endless Bid: Taming the Unreliable Price of Oil to Secure Our Economy (Hardcover) This book will provide an excellent educationo n the nature of the crude oil markets and how trading in those markets has evolved over the years. I completely disagree with the reveiwer that was dismissive of the points Dan made in his books. The changing of the rules that has allowed an exponential increase in the betting on oil prices does not provide real world economic benefit other than to the profitting trading firms. THe futures markets for commodites provide the business and social stabilizing function of price discovery just as the capital markets for bonds and stocks exist for capital formation. The speculation aspect has always existed in human nature and these markets; but the evidence clearly depicted in this book shows the speuclative aspect of the market has overwhelmed the ecnomic useful aspects of these markets. I learned a lot from Dan's book and I encourage you to read it. I would also suggest in addition to this book Oil 101 by Morton Downey; it comptements...
 
7 of 8 People found the following review helpful.

Physical oil is not an asset to be managed like a stock equity, April 25, 2011 ByJay Poppenhusen "communication scientist" (Los Angeles) - See all my reviews Amazon Verified Purchase(What's this?) This review is from: Oil's Endless Bid: Taming the Unreliable Price of Oil to Secure Our Economy (Hardcover) Day after day our news media report to us on skyrocketing oil prices and endless environmental, geopolitical side stories. Why is the price of oil going up an endless spiral? Dicker provides an autobiographical, commodities "trading pit" account of what is happening. He uses plain old street language in an attempt to clarify what is hedging, trading, investing, and speculating. And this uncovers the problem he sees with the oil industry. Oil producing companies that might appear to be hedging are actually trading, and Goldman Sachs mysteriously makes oil appear to be something that can be managed like a stock equity. How can they be allowed to do that at the expense of the consumer? Decker teaches readers how to place a "crack spread" bid in all the yelling in your face language on the trading floor. He offers a fully developed theory on why the rules of online, ETF, investment bank commodities trading are no longer on a level playing field.
 
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