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1980s Oil Bust Book

Posted on 8/1/13 at 1:46 pm
Posted by whodatigahbait
Uptown
Member since Oct 2007
1752 posts
Posted on 8/1/13 at 1:46 pm
I saw a thread that mentioned this a week or two ago and it got me interested in the topic....does anyone know a book that covers this?

TIA
Posted by Doc Fenton
New York, NY
Member since Feb 2007
52698 posts
Posted on 8/1/13 at 1:59 pm to
If you find anything that covers Penn Square Bank and its implosion in 1982, that might cover a big chunk of what you're looking for in terms of the effects of a bust.

EDIT: This one looks interesting: " Belly Up: The Collapse of the Penn Square Bank."

Also, I once talked to the guy who runs the Energy Finance & Trading master's program over at Tulane's business school, and the two books he always recommends to people about the business in general are " Oil 101" & " The Prize."
This post was edited on 8/1/13 at 2:09 pm
Posted by cwill
Member since Jan 2005
54752 posts
Posted on 8/1/13 at 10:46 pm to
Read the prize...covers everything.
Posted by wpsnickers
Member since May 2004
2591 posts
Posted on 8/1/13 at 11:17 pm to
In business school right now at SMU, and they just talked about how good "The Prize" is last week.
Posted by foshizzle
Washington DC metro
Member since Mar 2008
40599 posts
Posted on 8/1/13 at 11:45 pm to
quote:

Read the prize...covers everything.


fricking this.

Outstanding book that covers the development of the oil industry from the very beginning in the 1800's up to just before the first Gulf War.
Posted by cwill
Member since Jan 2005
54752 posts
Posted on 8/1/13 at 11:46 pm to
Daniel yergin is the author...he's an exec at IHS now. I'd say if your in b school with an eye on the O&G industry it's a must read.
Posted by GaryMyMan
Shreveport
Member since May 2007
13498 posts
Posted on 8/2/13 at 8:31 am to
Oil & Gas Law In A Nutshell is another good one written by an SMU law prof. It's more focused on the mineral rights side of the business. LINK


OP: You might enjoy The Big Rich it's about 4 of the big families in Texas and what happened in subsequent generations (some lost, some won, some went nuts). LINK
This post was edited on 8/2/13 at 8:50 am
Posted by LSURussian
Member since Feb 2005
126962 posts
Posted on 8/2/13 at 8:48 am to
quote:

Belly Up: The Collapse of the Penn Square Bank."
Follow-up fact: one of the bank officers discussed in that book was eventually murdered in Moscow, Russia by the Chechen mafia.
Posted by Doc Fenton
New York, NY
Member since Feb 2007
52698 posts
Posted on 8/2/13 at 2:36 pm to
Posted by LSURussian
Member since Feb 2005
126962 posts
Posted on 8/2/13 at 3:59 pm to
Look up "Paul Tatum."
Posted by yellowfin
Coastal Bar
Member since May 2006
97645 posts
Posted on 8/2/13 at 4:02 pm to
quote:

Paul Tatum
From Wikipedia, the free encyclopedia
Paul Tatum (1955-1996) was an American businessman who was killed on November 3, 1996, in a Moscow metro station close to his hotel. Tatum was operating a Hotel Joint Venture with a Chechen businessman named Umar Dzhabrailov. Tatum founded the Americom Business Centre and became part-owner of the Radisson Slavyankaya Hotel, an upscale hotel in Moscow, which catered to foreign businessmen and high-end guests.
Tatum was born in Edmond, Oklahoma, USA, and travelled to Russia in 1985, involving himself in various business activities. He reportedly knew President Clinton, who was a regular guest of his hotel while visiting Russia on state visits. During the attempted coup in Russia in the summer of 1991, Tatum had supplied president Boris Yeltsin's only link to the outside world by giving him satellite linkage from a government building in Moscow, which was surrounded by army units trying to overthrow his fledgling democratic government.[citation needed]
Tatum had numerous disputes with his hotel partner Umar Dzhabrailov, at one point taking out a full page ad in a local Moscow newspaper alleging Dzhabrailov was blackmailing Tatum and trying to force him out of the hotel joint venture. A few weeks later he was gunned down and shot 11 times in the head and neck. Tatum suspected he would be the target of a Mafia hit, and was wearing a bulletproof vest at the time of his attack. Shortly after Tatum's death, Dzhabrailov and the Moscow city government quickly took over complete control of the hotel joint venture.
Carol Williams investigated the Tatum murder for the Los Angeles Times and after concluding it had likely been a contract killing, she got a call from someone in the government who told her it was “unhealthy to pursue certain avenues of inquiry,” Williams says.
He was interred in Kuntsevo Cemetery, Moscow.[1]
Posted by LSURussian
Member since Feb 2005
126962 posts
Posted on 8/2/13 at 4:17 pm to
I was working in Moscow when Tatum was shot. In fact my apartment was about 300 yards from the subway (Metro) station where he was shot.

Back then, and it may still be the case today, foreigners could not set up a business in Russia without a Russian partner owning at least 50% of the business. So he chose this "Russian" named Umar Dzhabrailov as his partner.

What Tatum didn't know was Dzhabrailov was not Russian, but Chechen. And he was connected to the Chechen mafia.

The Russian mafia is scared of the Chechen mafia.

After Tatun got the Radisson built and operating profitably (CNN, NBC and Britain's BBC all had their Russian headquarters in that hotel, occupying entire floors for their Moscow news bureaus), Umar Dzhabrailov met with Tatum and told him his services were no longer needed, thank you and "do svidaniya".

Tatum, of course, protested that he and his American investors were not just going to walk away from their millions of dollars invested in the hotel.

When he went public with the dispute, not even Yeltsin could help him.

Tatum was shot down in broad daylight in front of dozens of witnesses but oddly enough not a single person saw the shooting.
This post was edited on 8/2/13 at 4:19 pm
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