To operate as an effective professional in the energy business, it is necessary to understand every layer of the industry, according to a new book by Vincent Kaminski, professor in the practice of executive education at Rice University’s Jones Graduate School of Business.
“Energy Markets” is the first of a two-volume series by Kaminski that examines the many facets of the energy industry. The book provides a look at energy trading of the past and the future with a comprehensive overview of the physical, institutional and financial layers of the industry. It gives a detailed examination of production, distribution, transportation and storage, and it delves into the intricacies of market design, intermarket linkages, and the most important types of transactions and instruments used in energy markets.
“Energy markets are evolving toward a highly integrated, global system, with shocks propagating across specific physical commodities markets and different local markets,” Kaminski said. “The markets represent a network of related physical, financial and credit markets, with very complex interactions and interdependencies. The physical and financial markets cannot be examined in isolation from each other, and the goal of this book is to bring the two together.”
Kaminski hopes the book will allow energy traders, risk managers, regulators and analysts to better understand their industry.
“The days are long gone when a person could spend his or her career working for one sector of the energy industry without closely following other sectors across the full spectrum of commodities and geographical locations,” he said. “This book enables the reader to come to an understanding of every layer and interaction and to learn everything they need about the realities of working within these markets in an accessible, straightforward manner.”
For more information about the book, published by Risk Books, visit http://riskbooks.com/energy-markets.