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The 3 Things I Wish I Had Done Differently When Preparing for the Energy Risk Professional Exam

Energy-Risk-Professional-lessons-learned

Energy-Risk-Professional-lessons-learned

When I took the ERP exam, I was overwhelmed with the preparation like almost all candidates. The sheer amount of reading material (and the lack of preparation material) next to a demanding work schedule seemed almost too much at times, to the point where I was wondering whether enrolling for the ERP had really been such a brilliant idea.

I was lucky enough to pass the exam at the first try, but getting there was stressful, to say the least. In my preparation period, all of my free time was spent reading and learning, with little left for my family and friends. A few times I was tempted to postpone the exam to the next year, but I somehow managed to stay motivated and pushed through. I am very happy I did, but there are a few lessons from my experience that I learned during this time that could probably help future Energy Risk Professionals to design their exam preparation successfully. Even though I think I approached the ERP quite well, there are a few things that I would change to increase my learning effectiveness. Here they are:

    1. Start earlier. I reserved about six months practice time for the ERP. As it turned out this is really the minimum, and I should have allocated at least eight (or even ten) months, including solving practice questions. So if you decide to attempt the ERP, start immediately with your preparation, no matter how early that seems. You can do it in six months (perhaps even less if you have a lot of free time), but for working professionals, ten months would be somewhat comfortable.
    2. Read faster. When I started reading the GARP material, I took much too long to read the original material. In later levels I figured out speed reading and SQ3R, so this helped me tremendously to get through the reading material faster. While I read the ERP study material, I simultaneously took notes in question-answer format (which I turned into my ERP study notes), so this slowed down my process even more but was really a lifesaver in the review phase. Faster reading techniques will help you to have more time available for solving practice problems and to review the syllabus, so I think familiarizing yourself with cursory reading techniques can help you quite a bit in your ERP exam preparation, but also in all your other reading tasks.
    3. Solve as many questions and practice exams as possible. When I took the exam, there were only about 60 practice questions or so out there, which is really not enough to seriously practice for any exam. I also used my ViveraRISK study notes to review, but had I not had those, the exam would have been much more difficult. I know there is still a real scarcity of practice material for the ERP, but make sure you get at least all the available free practice exams from GARP. I also created a realistic ERP Practice Exam, which I think gives you a good impression of what to expect at the exam. Solving practice questions is excellent practice and repetition at the same time. It will also give you an honest assessment of your preparedness for the exam. Make use of all the resources you have to prepared in the best way possible!

These are the main lessons that I learned, and the things I would do differently if I took the ERP all over again. At the moment, I am studying for another finance designation, and I am using these techniques to speed up the process and learn faster. You can do the same to get through your ERP exam preparation faster and more effectively!

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Should You Get The ERP (Energy Risk Professional)?

Should You Get The Energy Risk Professional (ERP)?

Should You Get The Energy Risk Professional (ERP)?This question comes up at least once a week: “Hi Alex, I am a [research economist/trader/risk manager/…] at [energy/power company] and wonder if the ERP is right for me for a career boost. I am currently also studying for an MBA at […]. What you would advise?”

It’s an important question, one that I also asked myself before I studied for the ERP. Here some pointers that may help you in your decision based on my own experience and discussions with other Energy Risk Professionals.

ERP vs. Bachelor’s

For starters, an important thing to understand is that the ERP is not a degree but a professional qualification. So unless you already possess a degree level education, you could not compare the ERP with a university degree or an MBA. Most corporate jobs nowadays necessitate a bachelor’s (BSc or BA) or a master’s (MSc or MA) degree in some form or another, so if you want to climb up the corporate level fast, you first will need at least a bachelor’s degree. This is also a prerequisite to register for the ERP but can be gotten around by means of at least four years of professional work experience.

If you already have a bachelor’s degree or are studying for one and you are working in the energy sector, I recommend you absolutely go for the ERP next to your work/studies. If you don’t have a bachelor’s but enough work experience, the ERP will still help you in your job, and a big plus is that you can do it next to your work at your own pace. It’s really more a matter of priorities, but in general, anyone working in the energy sector could profit from the Energy Risk Professional designation.

ERP vs. Energy MBA

Many business schools offer an MBA in international energy or something similar. An MBA in general is definitely more involved (and much more expensive) than the ERP, and again, the MBA is a degree, while the ERP is “only” a professional designation. An important distinction is that the ERP is geared towards risk management alone, while the MBA also includes management and an array of organizational skills such as marketing and sales.

The applications for an ERP are different from an MBA: The MBA candidate would want to work in an executive position as a director or CEO, while the ERP is geared towards risk management, and not leadership or team management. So if you know you want to work in risk management specifically, the ERP would be preferred, otherwise the MBA will give you a broader education for future career enhancement. If you can do both, that would be ideal in my opinion, but carefully weigh the cost and the benefits with what you really want to do (risk management vs. general management) first.

ERP vs. FRM/CFA/CAIA

GARP offers also the FRM (Financial Risk Manager), which often goes in line with the CFA (Chartered Financial Analyst) and the CAIA (Chartered Alternative Investment Analyst). CFA or CAIA charterholders often also have an FRM. The Energy Risk Professional is the newest of all these professional designations and the only one that really involves energy. Commodities are also part of the CFA and the CAIA curriculum, but only at the margin, while the ERP covers extensively options and financial instruments used for risk management in the energy and financial sector.

In my opinion, these designations are complimentary. So you should not sacrifice one for the other if you have already enrolled. For example, if you’re currently studying for CFA Level 2 but are interested in the ERP also, don’t give up on the CFA but try to do both! There are not many charterholders yet who have the ERP next to the CFA and/or the CAIA, so this may give you an edge. Just do a search on Linkedin for “CFA ERP”, you will be surprised!

Conclusion

As you can see, I would advise almost anyone working or interested in energy to go for the ERP. Why? Mostly, because while it is still relatively new the designation will definitely grow in acceptance and importance in the years to come. I wrote a separate blog post about Energy Risk Professional job prospects, feel free to check it out.

In a nutshell, getting a secondary or tertiary education is always an asset both for yourself and for your employer. If you’re constantly improving your skills you will be bound to send a positive signal to your employer when the time of promotions comes up, and you will possess important and necessary skills that have the potential to give you a career boost.

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Energy Risk Professional Exam Strategy: Speed

I hope you are well on the way in your preparations to take the Energy Risk Professional exam! If you have already solved the GARP sample exams or the full-length Practice Exam, you know that timing is essential to score well. It’s too easy to waste time reading through exam questions again and again, and before you know it, five minutes have passed. This happened to me when I prepared, and I will share with you a strategy to increase your speed when you write the examination.

Note: The ERP exam used to contain 180 questions, but as of 2014, GARP has changed to format to 140 questions spread over 8 hours total. The Practice Exam and this article have been accordingly updated to the new format.

In order to keep track of time, make sure you don’t spend more than 3 minutes and 30 seconds on each question. The morning and afternoon session are four hours each, but you will want to have at least one hour for review in each session, this will leave you with 180 minutes / 70 questions = 2:40 minutes / question in the ideal case. On some you will be faster, on others slower, so a good rule of thumb is to move on after 3:30 minutes. A good way to ensure you don’t spend more is to allocate about one minute to reading the question, and the rest of the time to solving it. I usually put my wrist watch in front of me next to the exam sheet, so I always see where I stand in terms of timing. For example: If you’re at question ten, you should not be more than 25-30 minutes into the session.

The questions are sometimes worded in a lengthy way. Make sure you quickly get the point of the question. A helper may be to quickly glance at the multiple choice answers, so you see whether you have to calculate something or if the question is qualitative. If you have to calculate VAR, make sure you quickly isolate the core components needed for the calculation and perform it as fast as possible. The mark off the answer you found to be correct and move on.

Some questions will be short, so make sure you blaze through them and thank GARP for the present. Quickly browser the answers before you start reading the question, and mark off the right answer, then move on.

There will always be the case where you simply cannot find an answer. Either the calculation does not match any of the answers, it does not make sense, or you simply have no clue. This happens to everyone, so don’t despair. Just select the most likely answer, or guess if you must.

Your speed will greatly increase if you go into the exam well rested. I therefore suggest you take off at least one day prior to the exam and relax a bit. Maybe repeat some of the key concepts in the morning before the exam, then rest in the afternoon. Also make sure you have some water with you in the exam room. IF you’re dehydrated, you will lose speed. All athletes know this, so think of yourself as a high performance athlete when you go into the ERP!

IMPORTANT: Do not leave any questions unanswered when you go through the test. Even if you don’t know the answer, just mark the most likely correct answer, then move on. Mark the questions you’re not sure about to visit later if you have time. In the afternoon session I barely finished in time, and had I left answers unchecked, I could have ended up giving away valuable points.

You will need every single point you can get in the ERP exam to pass, it’s really not an easy exam. Prepare well with the Practice Exam and the ViveraRISK Concept Checkers, keep your calm and a positive attitude during the exam, and you will be sure to perform at your best.

I wish you all the best, and I am keeping fingers crossed for you!

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How To Make The Most Of The ERP Practice Exam

Note: The ERP exam used to contain 180 questions, but as of 2014, GARP has changed to format to 140 questions spread over 8 hours total. The Practice Exam and this article have been accordingly updated to the new format.

Solving as many practice questions as possible is the best way to prepare for the Energy Risk Professional exam in the last stage of preparation. This will point out areas of weakness and will simulate the exam experience. Next to knowing about the important topics covered in the readings, you must also make sure you can manage your time effectively, and you should know what to do in case a question comes up you did not expect.

When I prepared for the ERP in November 2010, I often spent too much time on the math questions, solving them until the end, just to go through the entire exercise. In some cases it is possible to find the right solution by just excluding the answers that do not work. You can also deduct the right answer from the question, for example by determining the approximate value and then comparing that with the answers provided.

Here is a small check list that you could use when you solve practice exams:

  • Solve the practice exam about two weeks before the actual exam. This will give you enough time to look up the topics you would like to look up again.
  • Make sure you stick to the right time window: Each session lasts 4 hours, you want 1 hour of review time in each session . This leaves you with 3 hours for 70 questions in each session. This will allow you to spend about 2:40 minutes per question on average. In order to have enough time, you should be faster than that though because you want to go through the questions again and find errors that you made. As a rule of thumb, never spend more than 3:30 minutes per question.
  • Do not use the practice material to look up answers to the questions when you solve the exam. This defeats the entire purpose. If you are pressed for time, you should still solve the exam without the answers visible to you. When you are finished and check the answers, work through all the answers very diligently to refresh the concepts.
  • Use only the allowed calculators during the practice exam.
  • Mark an answer for each question on the first go. Even if  you are not sure if it’s right, still mark the one you think may be correct and then move on. This is very important: In case you do run out of time, you would not want to have left any answers blank.
  • Take a break between the two exam sessions. Each session lasts for 4 hours, so it is unrealistic to work through the entire 140 questions and still be highly concentrated. Take a break of at least 60 minutes in between.
  • GARP is well-known for confusing exam questions. If you encounter a question you did not expect or that you never heard about, be not surprised. Just apply common wisdom and logic, and exclude the answers you think are wrong.

I hope this helps you preparing for the exam. If you would like to check out the practice exam on energyriskprofessional.com, please click here or on the picture below.

As always, let me know if you have any questions. I wish you all the best for your ERP exam!

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How To Read The Required ERP Material Faster

A little less than two months are left until the big day of the ERP exam… I hope all of you are getting through the required reading materials as expected. If you are like me, then you probably underestimated the commitment a great deal. When I took the exam in 2010 I should have started about two months earlier to prepare at a comfortable pace. I was able to make up for lost time with a speed reading technique that I think you could benefit from as well. Let’s get started!

For scientific material I use a reading technique called SQ3R. It is a five-step reading strategy, and the letters are an abbreviation  of the five steps of the strategy: Survey (or Skim), Question, Read, Recite (or Recall) and Review. It helps you transform the reading material into questions that your brain is trying to answer while reading. A similar approach is the foundation of the ViveraRISK ERP Concept Checkers, which are in Q&A format, but you can do this yourself with this technique.

Let’s go through these steps in a little more detail and see how you can use the technique in the Energy Risk Professional preparation:

  1. Survey (2 minutes): Before beginning reading look through the whole chapter or paper of the syllabus. See what the headings are – the major ones and the subheadings; hierarchical structures seem to be particularly easy for our brains to latch onto – check for introductory and summary paragraphs, references, etc. Resist reading at this point, but see if you can identify three to six major ideas in the chapter.
  2. Question (usually less than 30 seconds): Ask yourself what this chapter or paper is about: What is the question that this chapter is trying to answer? What question do I have that this chapter might help answer? Repeat this with each subsection of the chapter, turning each heading into a question. (As a variation of this technique, you can write the important question down; this is called SQW3R)
  3. Read (at your own pace): Read one section at a time looking for the answer to the question proposed by the heading. This is active reading and requires concentration, so it is important that you find yourself a place and time where you can concentrate. Reading in a train or bus may not work. Best is at home at your desk.
  4. Recite/write (about a minute): Say to yourself out loud or write down a key phrase that sums up the major point of the section and answers the question. You have to use your own words, not just copy a phrase or paragraph from the book.
  5. Review (less than 5 minutes): After repeating steps 2–4 for each section you have a list of key phrases that provides a sort of outline for the chapter. Test yourself by covering up the key phrases and seeing if you can recall them. Do this right after you finish reading the chapter. If you can’t recall one of your major points, that’s a section you need to reread.

You should treat the review part as an ongoing process with flash cards or notes made during reading the materials. You should use these cards every few days until the exam to really drill the concepts into your memory.

I hope this helps you speed up the reading process a bit, and I wish you all the best for your ERP preparations!

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The Risk of Knowing About the GARP’s ERP Program

Note from Alex: This is a guest post from Richard Jide Adisah. Richard is an ERP candidate in Ghana and writes about his experiences and preparations for the ERP exam. Enjoy!

If you are on this blog and reading this post, you probable know all the technical stuff you need to know about the Energy Risk Professional Program. So I won’t bore you with details and technicalities. Let me tell you about what knowing about the ERP has done to my life.

I discovered ERP in a local newspaper in Ghana. A unique institution set up by the Central Bank in Ghana (“Bank of Ghana”) was offering an energy finance training programme designed based on the ERP curriculum. Immediately I was hooked. I wanted to know more, and when I enrolled in the program, my appetite grew more. Soon enough though, I discovered that the available study materials are few and far between, and so are practice questions, fellow candidates, and even financial risk training for the energy industry as a whole.

Energy risk management knowledge is quite challenging to master and very few books cover enough background for a candidate to develop a comprehensive understanding. And so the more you learn, the more you want to know.  The techniques are relative new and not well-tested  and very few authors express deep enough confidence in their own models to encourage widespread adoption.

Though I am yet to take the exam, I have had considerable discussions with many industry professionals some of whom have successfully been ERP certified (including Alex Janis) and my conviction is yet to change. ERP is designed by GARP to mimic the energy industry. Studying it involves continuous exploration for new ideas, new techniques and cutting edge understanding of a continuously evolving field.

It’s challenging yet exciting. It’s broad yet highly specialized. I have enjoyed every bit of the ERP journey and I  tell you this for sure, I am only beginning. The only thing I keep hearing from everyone is that you need more time to study, be strategic, identify the key link between concepts and AIM statements and always ask yourself: “Where is the risk?”

I guess everyone agrees with me, knowing about the ERP creates in you an insatiable appetite to know more. It’s relatively new, it’s exciting but passing the exam requires a strategic and smart approach to mastering the skills and concepts.  Soon enough though, I might have the chance to find out, how right I am.

Cheers.

Richard Jide Adisah

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Work Smarter Not Harder For The ERP Exam

The Brain

The Brain

The Energy Risk Professional exam is a daunting task without a doubt: Looking at the required reading list alone can make your head spin. When I studied for the ERP I repeatedly wondered what I had gotten myself into. But still, I was happy to pass and in retrospect I believe this is doable for anyone with the right study approach and attitude.

That begs the question: Does preparing for the ERP exam really have to be so difficult?

History has shown that great accomplishments do not have to be extremely hard per se. In medicine for example, simply washing one’s hands have saved nearly as many lives as the introduction of penicillin.

I am not saying the ERP exam is EASY, I am proposing to optimize the exam preparation approach. The old adage of working smarter, not harder, holds true for the ERP as well. In my opinion, the most important ingredients for exam success are:

  1. A real interest in the subject matter. For those passionate about energy, learning the ins and outs about it will be fascinating.
  2. Enough time. If you plan for at least six months to get in shape for the exam, this should suffice.
  3. A good study plan. You need to intelligently structure both the study material as well as your personal time to get consistent results. This also includes a well thought-of exam strategy, which may be the most important part.

I hope you don’t make studying for the ERP too hard for yourself. Yes, it is tough, but you can have fun on the way and it is by no means impossible to pass. Once you have jumped the initial hurdle of the mountain of study material you have  to work through, studying will be enjoyable as soon as you have gotten the hang of it.

I encourage you all to participate in the discussion about this topic in the ERP Group on Facebook, and look forward to hearing your opinions!

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72 Free Practice Questions For The ERP Exam

Studying for the ERP exam demands a lot of organization and self-discipline. Once you have read all the required study material the three most important things for exam success are:

  1. Practice
  2. Practice
  3. Practice

In the pdf file below I summarized the questions I found hardest from the ERP practice exam that was available from GARP in 2010 and  added some of my own questions that came up when I studied. Please feel free to download it from here:

ERP Exam questions summary

I hope this helps you in your exam preparation. I wish you all the best!

Alex

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Natural Gas In A Nutshell

Natural gas is a fast growing form of energy with a rapidly developing competitive market. Natural gas is by no means a “green energy”, but also counts as petroleum (together with oil and bitumen). Gas exploration is a hot topic as it involves highly toxic substances and often renders whole regions uninhabitable. It is very important to understand natural gas, with its regulatory dynamics, benefits, and challenges. This article gives an overview about how it is produced, distributed, and sold. All of this is very important knowledge for every Energy Risk Professional.

Natural gas consists of hydrocarbon molecules from one to four carbon atoms in length, but mainly of the hydrocarbon methane (CH4),  which is the smallest occurring hydrocarbon molecule.

The typical composition varies from field to field. The English unit of volume measurement for natural gas is the cubic foot (cf). In the metric  system, cubic metres (m3) are used for volume of gas.

As with crude oil, there is sweet and sour natural gas. Sweet natural gas does not contain any hydrogen sulfide (H2S). Sour natural gas does contain hydrogen sulfide (H2S). Hydrogen sulfide (H2S) does not count as an inert (impurity in natural gas). It is lethal and very corrosive, and it must be removed from the natural gas before it can be delivered to a pipeline.

In the ground, natural gas is often dissolved in crude oil because of high pressure in reservoir. As the pressure of the reservoir increases with depth, the amount of natural gas dissolved in crude oil increases with depth also. When crude oil is lifted to the ground, the pressure is relieved and the natural gas (solution gas) bubbles out. Nonassociated natural gas is not in contact with oil in the subsurface. A  nonassociated gas well produces almost pure methane. Associated natural gas is in contact with oil, occurring in the free gas cap above  the oil and in solution with the crude oil. Associated gas contains butane, propane, and ethane next to methane.

The heat content of natural gas is measured in British thermal units, Btu. One Btu is about the heat given off by burning one wooden match. Btu values of pipeline natural gas range from 900 to 1,200 Btus per cubic foot (cf), while the most common heat content for pipeline natural gas is 1,000 Btu/cf. The heat content varies with the composition.

There are about 179 Tm3 proven reserves of natural gas available which equals about 65 years of production at the present rate. Ultimate  reserves are estimated at about 360 Tm3. Most proven reserves are located in the Middle East and in the former USSR, but the main  markets are in Europe and the United States.

Natural gas extraction by countries in cubic meters per year.

Natural gas reserves remote from markets are called “stranded reserves”. They were viewed as a nuisance in the past, but as options for monetizing some of these stranded reserves (sometimes discovered decades ago) increase, they are being increasingly developed.

The preferred way of transporting natural gas is the pipeline.

Because it is a gas, it is about five times as costly to transport as oil. Natural gas can also be transported in liquid form as liquefied natural gas (LNG) or compressed natural gas (CNG), but both are more costly as they involve further processing. Market centers (hubs) exist near the intersection of several pipelines and provide customers (shippers and marketers) with receipt/delivery access to two or more pipeline systems. The best known, but not the largest, market center in the United Stated and Canada is the Henry Hub located in Erath, Southern Louisiana.

If it is not immediately needed, natural gas is stored in caverns (usually washed salt domes), depleted oil or gas reservoirs, aquifiers (water-bearing rock formations), or steel tanks. Demand for gas fluctuates seasonally and intraday. Operating storage is used by pipeline companies to balance short-term demand swings. It takes four days for natural gas stored on the U.S. Gulf Coast to reach the Northeast of the United States. Seasonal storage is used to accommodate for seasonal swings. Pipeline companies or local distribution companies own seasonal storage. A characteristic of the natural gas market is the alternating injection season (around March) and withdrawal season (around November), which heavily impacts price volatility.

The natural gas market is becoming more and more deregulated, and therefore more competitive. The main regulating agency is FERC (the Federal Energy Regulatory Commission). FERC is an independent agency in the United States that regulates the interstate transmission of natural gas, oil, and electricity. FERC also regulates natural gas and hydropower projects. Since 1993, FERC orders have provided for open-access storage service, the separation of  purchase and transportation services by interstate pipelines (“unbundling”), and deregulation of interstate pipeline sales sources, with only the market constraining rates. All of these actions have made natural gas more competitive compared to oil.

The main acts governing the gas market are:

  1. National Energy Conservation Policy Act. Required utilities to encourage customers to conserve energy.
  2. Power Plant and Industrial Fuel Use Act. Required power plant users to convert to coal, whenever possible.
  3. Public Utility Regulatory Policies Act (PURPA). Federal standards for termination of service, spurred development of cogeneration project  (simultaneous production of electricity and heat, more efficient).
  4. Natural Gas Policy Act. Gradually phased out curtailment measures.
  5. Energy Tax Act. Established tax credits for low-emission dwelling and transportation.

The main advantages of natural gas is its abundance and therefore its low price. Many natural gas reserves are found in the United  States, and are therefore viewed as one of the answers to the dependence on foreign oil.

The main problems with natural gas are:

  • Low energy density. High pressure is required to increase gas density and raise its energy content per unit volume so that the gas can be transported economically.
  • Storage. Large quantities of natural gas cannot be stored easily above ground as oil and coal can.

Natural gas exploration is very controversial as it is very harmful for the local flora and fauna, especially the method of hydraulic fracturing (hydrofracking) involving toxic “frakcing fluids”. Burning gas also still produces CO2, and is by no means an answer to the dependence on fossil fuel and global warming. Natural gas as a form of energy is therefore still only a half-hearted substitute for oil, and it remains to be seen how the unsolved problems of discovering and producing natural gas will impact its future as a form of energy.

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Required Readings for the Energy Risk Professional (ERP) Exam

The required readings for the ERP exam are directly available from GARP in printed or electronic form. The price tag is rather high though, so you may want to consider assembling the readings yourself, preferably from your university library, as they will be exactly the same. The books may also be available on Amazon, but the price including shipping to your country may again be quite high.

In either case, finding all the books is very cumbersome, so I went ahead and compiled a list of required readings that can be used to substitute or complement the GARP study package.

A word of warning: The required reading list for the ERP exam looks extremely daunting. In reality, you will only have to read 2-3 chapters from each book on average, so it pans out to about 2,000 pages in total. I think candidates will benefit immensely from organizing the reading material properly, which is the main reason I made the ViveraRISK ERP Concept Checkers available on this site.

Below you will find a list of all the books from the ERP Study Guide 2011 published by GARP that can be found on their website. Please verify that all the titles are complete, as I can not guarantee that I have not missed or misspelled one.

As always, please contact me with any questions. I wish you all the best for your ERP exam preparations!

Printed books that you may find in your library or on Amazon:

  • Charles F. Conaway. The Petroleum Industry: A Nontechnical Guide (Tulsa, OK: PennWell Books, 1999)
  • Institut Français du Petrolé Publications. Oil, Gas Exploration, and Production: Reserves, Costs, Contracts (Paris: Editions Technip, 2007)
  • Charlotte Wright & Rebecca Gallun. Fundamentals of Oil & Gas Accounting, 5th Edition (Tulsa, OK: PennWell, 2008)
  • Norman J. Hyne. Nontechnical Guide to Petroleum Geology, Exploration, Drilling, and Production, 2nd Edition (Tulsa, OK: PennWell Books, 2001)
  • Thomas O. Miesner and William L. Leffler. Oil and Gas Pipelines in Nontechnical Language (Tulsa, OK: PennWell Books, 2006)
  • Samuel Van Vactor. Introduction to the Global Oil and Gas Business (Tulsa, OK: PennWell Books, 2010)
  • James H. Gary, Glenn E. Handwerk and Mark. J Kaiser. Petroleum Refining: Technology and Economics, 5th Edition (New York: CRC Press, 2007)
  • Davis W. Edwards. Energy Trading and Investing (New York: McGraw-Hill, 2010)
  • Rebecca L. Busby. Natural Gas in Nontechnical Language (Tulsa, OK: PennWell Books, 1999)
  • Arthur J. Kidnay and William R. Parrish. Fundamentals of Natural Gas Processing (Boca Raton, FL: Taylor and Francis, 2006)
  • Frank Fabozzi (ed.): The Handbook of Commodity Investing (Hoboken, NJ: John Wiley & Sons, 2008)
  • Michael D. Tusiani and Gordon Shearer. LNG: A Nontechnical Guide (Tulsa, OK: PennWell Books, 1999)
  • Davis W. Edwards. Energy Trading and Investing (New York: McGraw-Hill, 2010)
  • Chris Harris. Electricity Markets: Pricing, Structures and Economics (West Sussex, England: John Wiley & Sons, 2006)
  • Sally Hunt. Making Competition Work in Electricity (New York: John Wiley & Sons, Inc., 2002)
  • Richard Baxter. Energy Storage: A Nontechnical Guide (Tulsa, OK: PennWell Books, 2006)
  • Roy L. Nersesian. Energy for the 21st Century: A Comprehensive Guide to Conventional and Alternative Sources (Armonk, NY: M.E. Sharpe, Inc., 2007)
  • Ann Chambers. Renewable Energy in Nontechnical Language (Tulsa, OK: PennWell Books, 2006)
  • Fisher Investments. Fisher Investments on Energy (Hoboken, NJ: John Wiley & Sons, 2009)
  • Tom James and Peter Fusaro. Energy and Emissions Markets: Collision or Convergence? (Singapore. John Wiley & Sons (Asia) Pte Ltd., 2006)
  • Frank Fabozzi (ed.): The Handbook of Commodity Investing (Hoboken, NJ: John Wiley & Sons, 2008)
  • Steven Errera and Stewart L. Brown. Fundamentals of Trading Energy Futures & Options, 2nd Edition (Tulsa, OK: PennWell Books, 2002)
  • Robert McDonald. Derivatives Markets (Boston: Addison-Wesley, 2003)
  • Markus Burger, Bernhard Graeber, and Gero Schindlmayr. Managing Energy Risk: An Integrated View on Power and Other Energy Markets (West Sussex, England: John Wiley & Sons, 2007)
  • Vincent Kaminski (ed). Managing Energy Price Risk (London: Risk Books, 2004)
  • Alexander Eydeland and Krzysztof Wolyniec. Energy and Power Risk Management: New Developments in Modeling, Pricing, and Hedging (Hoboken, NJ: John Wiley & Sons, 2003)
  • Vincent Kaminski (ed). Energy Modeling: Advances in the Management of Uncertainty, 2nd Edition (Incisive Media Investments Limited, 2005)
  • Davis W. Edwards. Energy Trading and Investing (New York: McGraw-Hill, 2010)
  • Fletcher J. Sturm. Trading Natural Gas: A Nontechnical Guide (Tulsa, OK: PennWell Books, 1997)
  • Dragana Pilipovic. Energy Risk: Valuing and Managing Energy Derivatives, 2nd Edition (New York: McGraw-Hill, 2007)
  • Les Clewlow and Chris Strickland. Energy Derivatives: Pricing and Risk Management (London: Lacima Publications, 2000)
  • Helyette Geman (ed). Risk Management in Commodity Markets: From Shipping to Agriculturals and Energy (West Sussex, England: John Wiley & Sons, 2008)
  • Peter C. Beutel. Surviving Energy Prices (Tulsa, OK: PennWell Books, 2005)
  • John Wengler. Managing Energy Risk: A Nontechnical Guide to Markets and Trading (Tulsa, OK: PennWell Books, 2001)
  • Tom James and Peter Fusaro. Energy and Emissions Markets: Collision or Convergence? (Singapore. John Wiley & Sons (Asia) Pte Ltd., 2006)
  • Steve Leppard. Energy Risk Management: A Non-technical Introduction to Energy Derivatives (London: Risk Books, 2005)
  • Tom James. Energy Markets: Price Risk Management and Trading (Singapore: John Wiley & Sons, 2008)
  • Eduardo Canabarro and Darrell Duffie. ALM of Financial Institutions, ed. Leo Tilman (London: Euromoney, 2003)

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