A Thousand Barrels a Second

The Coming Oil Break Point and the Challenges Facing an Energy Dependent World

The title of this book by Energy Economist Peter Tertzakian is taken from the important milestone in 2006, whereby world oil consumption passes the 1000-barrels-a-second mark. This unprecedented growth in energy consumption is fuelled partly by the rise of emerging giants China and India whose thirst for oil has broken all consumption records in recent history.

But the problem is, oil supplies around the word are dwindling rapidly. This makes it the one commodity with the most potential to flame geopolitical tensions around the world. This can be clearly seen in the invasion of Iraq by coalition forces.

One thing for sure is that oil prices will be one of the most exciting commodities to watch, both for investors and the man in the street alike.

So what does this mean for consumers, especially owners of fuel-guzzling vehicles who are already setting aside a chunk of their salaries on petrol? Will ever escalating prices mean that oil is the sure-fire investment of tomorrow?

Besides answering these questions, Tertzakian has done an excellent job charting the history of the commodity and its future in a clear and comprehensive narrative, all within the pages of a 272-page hard cover. A pleasant read overall.