In 2006, world oil consumption will exceed one
thousand barrels per second. The news marks an
important change that will have a far-reaching
impact on world economies, investments, and business
In A Thousand Barrels a Second, Chief Energy
Economist of ARC Financial Peter Tertzakian
delivers a provocative look at the future of oil and
offers fresh insight into what it will take
to rebalance our energy needs and seize new
Tertzakian provides a unique analysis of shifts in
energy trends, describing how past critical junctures
-what he calls energy “break points”-developed,
evolved, and shaped nations; changed consumer
behavior; and launched or ruined businesses.
With the world already consuming 85 million
barrels of oil a day, Tertzakian answers the top
questions that business leaders, policy makers,
investors, and concerned citizens are asking him
as we approach the coming break point:
part of a routine business cycle, or are
there more profound forces at play?
world where energy is the primary
source of geopolitical tension?
against high gasoline prices?
emerge from the turmoil?
which do not?
Tertzakian also offers a realistic, informed look
into the volatile future of our energy supply chains
and how our consumption patterns may evolve,
revealing how governments, businesses, and even
individuals can meet the coming challenges with
better solutions and innovations.
Serving as a sobering yet hopeful wake-up call,
this book shows how the lessons of history will
help us find our way toward a better, more
secure energy future.
Peter Tertzakian is Chief
Energy Economist of ARC
Financial Corporation, one of
the world's leading private
equity firms focused on
energy. His background in
and finance, combined with
his entrepreneurial spirit,
helped him rise from the trenches of hands-on oil
exploration fieldwork to become an internationally
recognized, top-ranked analyst with corporate and
institutional following in boardrooms internationally.
Tertzakian publishes ARC Energy Charts, a weekly
synopsis of world energy trends.
For more information visit
Economist Tertzakian (director, ARC Financial Corp.) paints a grim picture of the current state of energy in the world, providing ample historical context and raising important questions about energy use in the past, present, and future. The author refreshingly reminds us that there is still plenty of oil in the ground, but it's getting harder to access. His discussion of energy supply chains is illuminating as he makes the case that a "break point" in the system is inevitable and could cause an energy crisis. While much of what Tertzakian states is not new (e.g., the need to conserve energy resources and embrace new energy solutions), he reminds us how technology using hydrogen and other "renewable" resources might help fill the resource gap. He also points out that although the United States has long been the number one energy-using country, China may soon overtake us, with geopolitical implications; Russia may prove a more powerful energy supplier than any of the Middle Eastern countries in the future. Being an economist, Tertzakian provides a great deal of data, which may overwhelm the reader, but there is no mistaking his point that "our birthright of abundant, reliable energy is coming to an end" and that our energy options are rapidly dwindling. Highly recommended for all public libraries and business collections.-Richard Drezen, Washington Post, New York City Bureau Copyright 2006 Reed Business Information.