Contents
Part I - The Energy markets
Chapter 1Introduction
1.1Energy Investing
1.2 Energy Prices
1.3 Energy Policy
1.4 Discussion Questions
Chapter 2Petroleum, Refined Products, & Bio-Fuels
2.1 Hydrocarbon Fuels
2.2 Exploration & Production
2.3 Crude Oil
2.4 Petroleum Transportation
2.5 Petroleum Refining
2.6 Refined Petroleum Products (gasoline, diesel, jet-fuel)
2.7 Bio-Fuels (Ethanol, Biodiesel)
2.8 End of Chapter Quiz
Chapter 3Natural Gas, Natural Gas Liquids, & Coal
3.1 Natural Gas
3.2 Natural Gas Transportation
3.3 Liquefied Natural Gas (LNG)
3.4 Natural Gas Storage
3.5 Natural Gas Liquids (NGLs) / Liquefied Propane Gases (LPGs)
3.6 Coal
3.7 End of Chapter Quiz
Chapter 4Electricity
4.1 Electricity
4.2 The Power Grid
4.3 Regulated Markets & Power Purchase Agreements (PPAs)
4.4 Deregulated Market Pricing
4.5 Types of Generation Plants
4.6 Renewable Power (Biomass, Solar, Wind, Hydro)
4.7 Renewable Energy Certificates (RECs)
4.8 Ancillary Services
4.9 Capacity Markets
4.10 End of Chapter Quiz
Part IITrading & Investing
Chapter 5Trading Essentials
5.1 Trades & Positions
5.2 Features of Commodities
5.3 Different Types of Prices
5.4 Groups Involved in Trading
5.5 End of Chapter Quiz
Chapter 6Forward Prices
6.1 The Difference between Forecasts and Fair Prices
6.2 Interest Rates and the Time-Value of Money
6.3 Forward Curves
6.4 Extending Forward Price Curves
6.5 Parent/Child Curves
6.6 Statistical Distributions
6.7 Volatility
6.8 Extending Volatility Curves
6.9 End of Chapter Quiz
Chapter 7Swaps, Forwards, and Futures
7.1 Direct Investments in Commodities
7.2 Forward Contracts
7.3 Futures and Margining
7.4 Types of Futures Orders
7.5 Futures Expiration Codes
7.6 Exchange for Physical
7.7 Quiz
Chapter 8Options
8.1 Financial Options
8.2 Option Payoffs
8.3 American, European, and Asian Options
8.4 Payoff Diagrams
8.5 Put/Call Parity
8.6 Option Greeks
8.7 Quiz
Chapter 9Option Valuation
9.1 Generalized Black Scholes
9.2 Average Price (Asian) Options
9.3 Spread Options
9.4 Quiz
Chapter 10Stocks (Equity Investments)
10.1 Financing a Company
10.2 Types of Companies
10.3 The Corporation
10.4 Ring Fencing and Structural Subordination
10.5 Common Stock
10.6 Preferred Stock
10.7 Stock Dividends and Splits
10.8 Voting Rights
10.9 Quiz
Chapter 11Bonds (Fixed Income Investments)
11.1 Corporate Bonds
11.2 Bond Yields
11.3 Interest Rates, Prices, and Yields
11.4 Bond Ratings
11.5 Secured and Unsecured Bonds
11.6 Convertible Bonds
11.7 Callable/Puttable Bonds
11.8 Quiz
Part IIIFinal Exam
Chapter 12Final Exam
Chapter 13Final Exam Answers