000864468 000__ 04464nam\a2200517\i\4500 000864468 001__ 864468 000864468 003__ MiAaPQ 000864468 005__ 20211103003909.0 000864468 006__ m\\\\\o\\d\\\\\\\\ 000864468 007__ cr\cn\nnnunnun 000864468 008__ 140710t20152015nyuad\\\ob\\\\001\0\eng\d 000864468 020__ $$z9780199990054 (hardback) 000864468 020__ $$a9780199990061$$q(electronic bk.) 000864468 035__ $$a(MiAaPQ)EBC1876202 000864468 035__ $$a(Au-PeEL)EBL1876202 000864468 035__ $$a(CaPaEBR)ebr10991530 000864468 035__ $$a(CaONFJC)MIL671403 000864468 035__ $$a(OCoLC)897379025 000864468 040__ $$aMiAaPQ$$beng$$erda$$epn$$cMiAaPQ$$dMiAaPQ 000864468 043__ $$an-us--- 000864468 050_4 $$aHD9560.5$$b.C5675 2015 000864468 0820_ $$a338.2/72820973$$223 000864468 1001_ $$aClayton, Blake C.$$q(Blake Carman),$$d1982-$$eauthor. 000864468 24510 $$aMarket madness :$$ba century of oil panics, crises, and crashes /$$cBlake C. Clayton. 000864468 264_1 $$aNew York, New York :$$bOxford University Press,$$c[2015] 000864468 264_4 $$c©2015 000864468 300__ $$a1 online resource (242 pages) :$$billustrations 000864468 336__ $$atext$$2rdacontent 000864468 337__ $$acomputer$$2rdamedia 000864468 338__ $$aonline resource$$2rdacarrier 000864468 504__ $$aIncludes bibliographical references and index. 000864468 5058_ $$aMachine generated contents note: -- CHAPTER 1 -- Introduction -- CHAPTER 2 -- "A National Crisis of the First Magnitude" -- The United States Geological Survey in an Era of Booming Demand, 1909-1927 -- CHAPTER 3 -- "A New Era of Scarcity and Higher Prices" -- Wartime Demand and the End of American Self-Reliance in Oil, 1940-1949 -- CHAPTER 4 -- "A Problem Unprecedented in Our History" -- American Anxiety in the Age of OPEC, 1970-1986 -- CHAPTER 5 -- "A Permanent Radical Rise in Oil Prices" -- Peak Oil Takes Wall Street, 1998-2013 -- CHAPTER 6 -- Conclusion. 000864468 506__ $$aAccess limited to authorized users. 000864468 520__ $$a"In Market Madness, Dr. Blake Clayton, a Wall Street stock analyst and former Oxford researcher, draws on a century's worth of statistical data to offer a revolutionary new look the history of oil and future of energy. The culmination of a multi-year study, he shows how generational fears about an imminent, irreversible shortage of oil punctuate the history of oil since its earliest days. He explores the conditions in which oil supply fears arise, gain popularity, and eventually wane, and shows how important such stories can be in affecting financial markets. He links these episodes to the behavioral concept of irrational exuberance and new era economic thinking, first popularized by Nobel Laureate Yale economist Robert Shiller, to show how unfounded pessimism affects the market for oil and other exhaustible resources. Acknowledging the significant geological and structural changes the oil market has undergone over the last century, the book does not dismiss today's shortage fears out of hand, but asks what they reveal about how commodity markets function and what that means for investors and public officials. Clayton argues that the lessons to be learned from this history are the need for quality data about US and global oil reserves, the importance of clear communication from public officials about energy markets and resources, and the value of transparency in commodities markets. While these measures will not eliminate volatility and unpredictability in energy markets, he writes, they would mitigate unnecessary price spikes and improve investor and government decision-making. The book addresses popular debates in economics and finance on how mass beliefs affect financial markets while also offering a colorful narrative history for general readers about the dramatic booms and busts of the American oil industry"--$$cProvided by publisher. 000864468 588__ $$aDescription based on print version record. 000864468 650_0 $$aPetroleum industry and trade$$zUnited States$$xHistory. 000864468 650_0 $$aPetroleum reserves$$zUnited States$$xHistory. 000864468 650_0 $$aEnergy consumption$$zUnited States$$xHistory. 000864468 650_0 $$aEnergy policy$$zUnited States$$xHistory. 000864468 655_0 $$aElectronic books 000864468 77608 $$iPrint version:$$aClayton, Blake C.$$tMarket madness : a century of oil panics, crises, and crashes.$$dNew York, New York : Oxford University Press, [2015]$$z9780199990054$$w(DLC)10991530 000864468 852__ $$bebk 000864468 85640 $$3ProQuest Ebook Central Academic Complete $$uhttps://univsouthin.idm.oclc.org/login?url=https://ebookcentral.proquest.com/lib/usiricelib-ebooks/detail.action?docID=1876202$$zOnline Access 000864468 909CO $$ooai:library.usi.edu:864468$$pGLOBAL_SET 000864468 980__ $$aBIB 000864468 980__ $$aEBOOK 000864468 982__ $$aEbook 000864468 983__ $$aOnline