The Asylum: Inside The Rise And Ruin Of The Global Oil Market
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The Asylum is a stunning exposé by a seasoned Wall Street journalist that once and for all reveals the truth behind America’s oil addiction in all its unscripted and dysfunctional glory.In the tradition of Too Big to Fail and Liar’s Poker, author Leah McGrath Goodman tells the amazing-but-true story of a band of struggling, hardscrabble traders who, after enduring decades of scorn from New York’s stuffy financial establishment, overcame more than a century of failure, infighting, and brinksmanship to build the world’s reigning oil empire—entirely by accident.

Paperback: 432 pages

Publisher: William Morrow Paperbacks; Reprint edition (March 19, 2013)

Language: English

ISBN-10: 9780061766282

ISBN-13: 978-0061766282

ASIN: 0061766283

Product Dimensions: 5.3 x 1 x 8 inches

Shipping Weight: 11.2 ounces (View shipping rates and policies)

Average Customer Review: 3.9 out of 5 stars  See all reviews (43 customer reviews)

Best Sellers Rank: #1,332,498 in Books (See Top 100 in Books) #302 in Books > Business & Money > Investing > Futures #454 in Books > Business & Money > Investing > Commodities #607 in Books > Business & Money > Industries > Energy & Mining > Oil & Energy

If you've ever wondered who on earth is behind $4 gasoline or $100-plus oil, look no further than this book, which tells the story of the untrained, rebel scrappers from Manhattan who built this stranger-than-fiction monstrosity. It's all here, which is why some haters on this page don't want you to read it. (If I were them, I wouldn't want you to, either.)Just to clear up a few of the debates raging on and elsewhere, the oil market being discussed in `The Asylum' is quite literally where the U.S. gets its energy prices. No one contests that. (Just check any news outlet -- Nymex oil is the world's reference point.) It determines what we pay at the pump for gasoline. It has been the global benchmark for the past 30 years. When oil tops $100, where do you think it comes from? Outer space? Nope. It comes from this market and the unshaven, bet-on-anything maniacs who are running it into the ground.How weird is it that the enemy is not outside U.S. borders but primarily a bunch of greedy people in and around Wall Street and Washington who dine and hunt and golf together (among other, more salacious things we won't get into here, due to 's policy against blasphemy) hell-bent on taking their pound of flesh, to the detriment of us all?It might be the most spectacular shell game ever devised by man.This is the story of who, exactly, these people are, how they got to do what they are doing, and why their wild antics threaten us all. This book was released Feb. 15 -- the same day oil prices began their latest trek to $100 and up. I wonder how long it will keep going?One thing is for sure (as made clear by 'The Asylum'): no one's about to stop it.

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