Preface ix
Chapter 1 The Meaning of Oil Vega 1
Chapter 2 How Oil Volatility Relates to Strategic Risk 15
Chapter 3 Determining Oil Prices 37
Chapter 4 Dollars, Credit, Financial Crises, . . . and the Oil Connection 57
Chapter 5 Oil Companies and the Upstream/ Downstream Tradeoff 101
Chapter 6 How Government Action Increases Volatility 141
Chapter 7 Is There a Response? 179
Appendix A World Proved Oil Reserves (Billion Barrels) 197
Appendix B Exxon CARM per Gallon (January 3, 2000 to December 31, 2007) 209
Appendix C Exxon ARM per Gallon (January 3, 2000 to December 31, 2007) 221
Appendix D Shell CARM per Gallon (January 3, 2000 to December 31, 2007) 241
Appendix E Shell ARM per Gallon (January 3, 2000 to December 31, 2007) 253
Appendix F BP CARM per Gallon (January 3, 2000 to December 31, 2007) 273
Appendix G BP ARM per Gallon (January 3, 2000 to December 31, 2007) 285
Notes 305
About the Author 421
Index 423