Commodity Textbooks

· 1 min read [ commodities ]

Overview

Very useful books. Not exhaustive but main ones I find useful. Problem - These are difficult without any prior knowledge! Some are easier on prior knowledge requirements (e.g. Kaminski). Imagine reading Geman or Glachant with no prior knowledge. Wallahi you’re finished.

Podcasts

Everything - HC Commodities
Oil & Ags - Strong Source
Shipping - Vonheim
Power - Transmission (Modo), Energy Gang (WoodMac), Catalyst (Energy Impact Partners)

Overall

These cover different areas of commodities.

Geman - Commodities and Commodity Derivatives: Everything, but old, written in 08. New version please! Love the ags and metals section. Don’t know if any other book covers so much breadth.
Kaminski - Energy Markets: Only oil, gas and power. However, very USA-centric. Strong focus on domestic American gas and power. Author is ex-Enron ex-Citadel.
Trafigura - Commodity Trading Demystified: Good for understanding the role of physical trading in the commodity supply chain.

Oil

Downey - Oil 101: A nice high level overview.
Leffler - Non-technical Guides: More for pure technicals; refineries, pipelines, exploration, etc. Not so much markets.

Gas

Tusiana - LNG - A Non-Technical Guide: No complaints here.

Power

Markets

Glachant - Handbook on Electricity Markets: A high level in-depth overview of the history of markets.
Kirschen - Fundamentals of Power System Economics: A very theoretical micro-economic approach. An example of nodal/congestion pricing I need to go through.
Stoft - Power System Economics: A book on market and policy design. An example of nodal/congestion pricing I need to go through.
Musgens - Energy Trading and Risk Management: A focus on the trading aspect of power from perspectives of various players in the ecosystem.
Mantysaari - EU Electricity Trade Law

Economics

Sundaram - The BESS Book
Gevorkian - Large Scale Solar Farms
Forsund - Hydropower Economics
Renewabl - Complete Guide to PPAs
USDC - Understanding PPAs

Engineering Technicals

Wood - Power Generation Operation & Control
Infield - Renewable Energy in Power Systems

Ags

If anyone has ideas, please tell me!

Metals