Professor, Independent Oil & Energy Professional

Professor Ferdinand E. Banks (Uppsala University, Sweden), performed his undergraduate studies at Illinois Institute of Technology (electrical engineering) and Roosevelt University (Chicago), graduating with honors in economics. He also attended the University of Maryland and UCLA.  He has ... more

ALL CONTRIBUTIONS

Climate Change: A Short Note
I am going to nominate Freeman Dyson as your Man of the Year. Dyson accepts that anthropogenic (man-made) global warming exists, and even accepts that it is the result of burning fossil fuels such as oil and coal.
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Natural Gas And Futures Markets
Transactors in a physical commodity (e.g. buyers and sellers of physical crude oil and natural gas) can employ futures markets to reduce price risk only if other traders and/or speculators are willing to accept this risk.
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Natural Gas Economics: An Update
When oil and coal were on the downward slopes of their cumulative production curves – i.e. annual output was declining –natural gas would still be going strong.
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Thoughts On Nuclear Energy
China is a long way from the summer jazz and dancing at Stockholm’s ‘Skansen’, but not Russia, and I have informed everyone who looks as if they might find my point of view worthwhile that Russia will eventually become the richest country in Europe
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Sweden Prepares For War
In Sweden, voters from one of the opposition parties – the ‘Center’ Party – have denounced the dictatorship of the peace loving Swedish majority, and declared that they are ready and willing to make common cause with NATO.
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A Nuclear Update For A Swedish Energy Summit
Sweden is the perfect country in which to study energy disciplines. Perhaps 45 percent of the electric production capacity in Sweden is accounted for by nuclear, although annually – at various times in the past.
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Comments

Latest Comments
Abe Reaches His Militarist Goal
1 year ago

I've Heard worse. Some of the opposition parties in Sweden want Sweden in Nato because Putin was nasty in the Ukraine. What it is actually all about in the case of Sweden however is a few persons getting jobs in Brussels. I can add however that going into Nato however will not stop a thousand refugees coming to Sweden every day and 'attacking' my Welfare.

Young Families Today Can Hardly Afford To Make Ends Meet
1 year ago

Yes, that's terrible isn't it, all those expenses. But stop and Think for a few minutes. One of the dumbest presidents in modern American history, followed by the most ignorant. I Think that the Big PX deserves better, and they can have it if they learn how to vote.

Obama’s Plan: G.I. Joe Working In Your Home!
1 year ago

Nothing sounds goofier to me than hearing that veterans are going to be taken care of by Mr Obama. All I need to hear now is that George W. Bush is joining the team. Then I'll forget about 16 lost years with Bush and Obama in the command slots, and walk into some recruiting office and offer my services...for the third time..

Did the author of this article really say "...cut the cord from their local Electric utility". And could we get a definition of the "sunny climates" that he is thinking of, because my Power bill is probably going up because of the nuttiness in Germany where solar and wind are scheduled to replace nuclear, which they cannot do, and the Power load in that country will be carried by imports of electricity and coal, to include imports from Sweden.

In this article: SCTY, SPWR
A New Equilibrium For Oil Prices
1 year ago

I dont like articles like this because they tell me that although I call myself the leading academic energy Economist in the World, I dont have anything to say about this matter at the present time. At least, not until I have had a good taste of the Swedish summer.

But after that I'll do what I am called on to do, beginning with some serious mathematics. You see, I once thought that our OPEC friends would not settle for less than a trillion dollars a year, and at the numbers mentioned in this excellent article they appear to be down for the Count, with the emphasis on "appear". Put Another way, those gentlemen have something in mind, and....

In this article: HES, WLL, OAS, SYRG, DBO, BNO
Japan Shocked To Find Abenomics Is Destroying Its Middle Class
2 years ago

'Solving inequality' (whatever that means) is not - by itself - THE way to improve an economy. although it definitely might help, assuming that things are being done that are conventionally associated with economic growth. I'm talking of course about maximizing the educational output, and ensuring that every drop of technical talent in an economy is discovered, and improved by the right kind of education. Things that were done in the U.S. during the WW2, and which worked brilliantly.

This advice is of course directed toward the US president and his team, although he probably knows as much about WW2 as I do about brain surgery. I tell you what: pass it to the next president, assuming that he or she can add and subtract.

Cushing Storage Around 90% Full As Inventories Surge Most In 14 Years, Crude Plunges
2 years ago

My book ENERGY AND ECONOMIC THEORY has now been published, and somewhere in that book - or maybe in a recent lecture ddrawing on some of the materials in that book - I said that the OPEC directorate is as smart as I am where oil is concerned. I'm beginning to wonder if this is so. Given the inventory movement described in this important article, I wonder if the OPEC people are still as much in Control of the oil price as they were when I began my book a few years ago. Of course I know that in a few of those countries there was some dissatisfaction over the concentration on crude rather than oil Products and petrochemicals, and that dissatisfaction was justified and may be in the process of changing, but even so....

In this article: OIL
China Becomes Global Lender Of Last Resort With Bailout Of World's Most Indebted Oil Company
2 years ago

"Europe's Rising anti-Semitism" you say, which doesn't happen to be true. Interviews with the former lawyer (Lagarde) turned (or appointed) super-duper economic analysis virtuoso. "Undermining U.S. dominated multi-national institutions." And so on and so forth as I occasionally say in my brilliant lectures when I run out of patience..

And why not. We had the tanks, artillery and complete mastery of the skies, and yet they stopped our advance in Korea. I knew then that the worm had turned, although I didn't know why. I know now though, and it's pretty sad.

In this article: PBR
Germany And Nuclear Energy
2 years ago

I dont really need any comments because I have all the answers when the issue is nuclear, but let me Point out that a few years ago when I published articles on nuclear, I received comments that reached a new level of stupidity and ignorance.

Can it really be that persons are getting the message about nuclear. Well, eventually they will do exactly that, and the sooner the better. And please allow me to repeat: by mid-Century Germany and Japan will probably be the most nuclear intensive countries in the World.

In this article: XOM
Another 8 Million Barrels Added To Oil Storage
2 years ago

The summer of 2008 was Lovely for me, because I was in Paris and in love...with drinking wine outdoors. The price of oil was going into orbit, and predictions were that it would go over 200 dollars. Then of course it started down, and it kept going down until it reached 32 dollars. That was when OPEC gave a demonstration of just what they could do. They had a couple of meetings and the oil price started up again, and did not stop until the price was over 100. We dont hear much about OPEC these Days, but I suspect that they can live with what is taking Place a while longer. At least the countries in the Middle East can.

In this article: OIL, USO, UNG, UGAZ, UWTI, UCO
Another 8 Million Barrels Added To Oil Storage
2 years ago

An absolutely important article where I and my work is concerned, however remembering what happened in 2008-09, I wonder how OPEC is going to fit into the present Picture. Maybe I'll try to figure it out if the weather here doesn't get better.

In this article: OIL, USO, UNG, UGAZ, UWTI, UCO
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STOCKS I FOLLOW

FAN FirstTrust Global Wind Energy ETF
GAF SPDR S&P Emerging Middle East & Africa ETF
GAZ iPath Dow Jones-AIG Natural Gas Total Return Sub-IndexSM ETN
GEX Market Vectors Global Alternative Energy ETF Trust
OIL iPath S&P GSCI Crude Oil Total Return Index ETN
TOT TOTAL S.A.
USO United States Oil Fund, LP

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Publications

Energy Economics: A Modern Introduction
Ferdinand E. Banks
Springer
12/21/2012
A modern text and reference book on energy economics. It assumes as background only the microeconomic portion of the introductory or first course in economics, and the mathematical requirements can, for the most part, be met by secondary school algebra. The subjects taken up in some detail are: oil, gas, coal, electricity, and energy derivatives - i.e. futures, options, and swaps. The long chapter on derivatives is applicable to all commodities, and can serve as an easily read background to financial derivatives. Other topics that are treated include uranium and capital budgeting, and to a lesser extent real option theory and deregulation. There are many simple exercises that are intended to build confidence, and an extensive glossary that both students and energy professionals should find useful
The Political Economy of World Energy: An Introductory Textbook
Ferdinand E. Banks
World Scientific Publishing Company
06/15/2007
This easy-to-read book presents an elementary yet comprehensive introduction to modern energy economics. Mathematical content is kept to a minimum, and advanced numerical concepts are placed in appendices. The two survey chapters are suitable for readers with little or no formal training in economics. Differing greatly from other energy textbooks, the book aims to provide the reader with an informed advantage. Principally intended as a textbook for undergraduate economics students, it can also be used for self-study or as a reference material.
Global Finance and Financial Markets: A Modern Introduction
Ferdinand E. Banks
World Scientific Publishing Co.
02/19/2001
This is an elementary, up-to-date text and reference book in global finance. It has been especially designed for beginning students in economics and finance, and also for self-study by anyone with a knowledge of secondary school algebra and an interest in finance and financial markets. The subjects taken up in some detail are stocks (shares), bonds, interest rates and derivatives, particularly futures, options and swaps. There are also chapters on exchange rates and banking, and readers are provided with an elementary introduction to risk and uncertainty. The book is also an easily read supplement to more technical presentations, in that it introduces all categories of reader to real world financial markets.
Energy Economics: A Modern First Course
Ferdinand E. Banks

A modern text and reference book on energy economics. It assumes as background only the microeconomic portion of the introductory or first course in economics, and the mathematical requirements can, for the most part, be met by secondary school algebra. The subjects taken up in some detail are: oil, gas, coal, electricity, and energy derivatives - i.e. futures, options, and swaps.