The Oil Price: Saving the Planet 
is a Deadly Business
Guy Lane
The Oil Price: Saving the Planet is a Deadly Business Guy Lane

Sustainability consultant takes aim at the oil industry



Guy Lane's debut novel is a tale of two cities, not the Paris and London of the Charles Dickens' classic, but the contemporary landscapes of the familiar, Dubai, and the less familiar, Townsville, in Queensland, Australia.

Lane's book, a self-published affair, appears under the title The Oil Price: Saving the Planet is a Deadly Business, and emerged a couple of months ago to minimal fanfare. A single, but undoubtedly warm review, adorns the book's Amazon page, where it is described as "a roller coaster of a novel".

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And it is, a roller coaster of a novel - or to appropriate the name of the most terrifying ride at one of Dubai's water parks, it's a Jumeirah Scarer of a book.

Lane's thriller begins in Townsville, the author's home town. Here we meet the wealthy Danny Lexion, a man possessed of a "strong jawline and a slightly gravelly complexion", who is also quite partial to cruising the city's nightspots in search of a good time. He is, Lane informs us, "a dilettante in life ... a lover of fine things, a carer of nothing". It is in one of these establishments that Lexion meets the young and beautiful Bren Hannan, a "greenie", a lover and a carer for the environment.

By one of those plot devices so customary to readers of this genre, Hannan and Lexion are soon bound for a UN conference in Dubai. It is here they encounter Brad Moore, the evil chief executive of Peking Petroleum.

Moore once headed up a security firm in Iraq, but now fancies a crack at the oil business. He believes there are vast untapped oil reserves sitting below the tiny Pacific island of Lala, but needs to raise $50 million to begin exploration and, indeed, exploitation of this virgin territory. He manages to secure the funds he needs through Suli, his Emirati sponsor.

"Suli was Brad Moore's ticket to setting up an oil company," writes Lane, "[and] Brad Moore wanted into the Emirates because the country was highly developed and located in the heart of the Middle East's oil territories. The Emirates had plenty of financial resources to fund his planned petroleum adventures. Plus, Brad Moore simply liked the idea of living in a city where you could go snow skiing at lunch time."

Only one man can stop Moore and that man is Danny Lexion, but not before Lane has sprinkled cold-blooded assassins, lily-livered environmentalists and a terrorist plot to blow up the Burj Al Arab across his pages. Even neighbouring Sharjah gets a brief taste of the action.

Lane first visited Dubai five years ago, in 2006, as a delegate at a conference - when he's not writing books he's a sustainability consultant ("I assist organisations to understand carbon," he tells me during our telephone interview) - and returned twice subsequently to conduct additional research. He was quite taken with the city of life.

"I was just so overwhelmingly enchanted by Dubai, its incredible vision and the real estate developments ..."

Quite taken, although there is a "but" lurking here.

"... but also by the fact that all this was being done in a city which had [one of] the highest ecological footprints on the planet.

"I saw Dubai as this very unsustainable place, but also I saw within it the opportunity for something extraordinary to happen."

It is a common reaction among those who visit the city, that recognition of the remarkable.

"In the city in the world which is building the most exceptional architecture ... it seemed to me that Dubai would eventually also be the place where the world's most sustainable skyscraper would be built.

"I wanted to talk about Dubai and about oil," he says, "and I wanted to create an environmental hero."

Lexion emerges as that man, but only after his largely empty existence is filled by Hannan.

It is Suli, the Emirati co-director at the offices of Peking Petroleum - a name, incidentally, which is meant to make you think of peak-oil price rather than the old westernised name for the capital of China - who emerges as the book's most controversial character.

"Suli the Emirati didn't say much," we learn in Lane's pages, "and when he did it was normally an odd twittering rhyme. When Brad Moore interviewed Suli and asked him what he did for a living, Suli answered, 'Adventure fun-fun'."

Lane says he didn't write the character to cause offence.

"Suli helped to join the dots ... he was never meant to be anything more than that.

"He wasn't designed to be insulting to Arabs, that's not the point about him. What I had in mind was just this wealthy Emirati who could do whatever he wanted to do - and all he wanted to do was have an adventure. And in this instance, he ended up working [with] Brad Moore, who's a crook.

"The book is meant to be satirical and controversial. What could be more controversial than an Emirati oilman blowing up the restaurant at the top of the Burj?"

What more, indeed.

"Then," he says (warning here: major plotline about to emerge), "I realised I didn't want to blow up the building." Lane's conversation should be served up with spoiler alerts. He already has the next two instalments of theLexiontrilogy mapped out and is more than happy to talk about what the future holds.

"The second story will be set in Townsville, when Brad Moore brings an oil rig to the Great Barrier Reef and then the third story is probably going to be set in Abu Dhabi ..."

You read this right. Whatever next, a threat to the Emirates Palace?

"... or somewhere where there are a lot of oil tankers quite close to the coast, because [by then] Brad Moore has bought a fleet of oil tankers. He's going to blow them up and claim the insurance. By this stage, Danny has become an avenger type ... his mission is to wipe out the entire board of directors of Peking Petroleum."

Lane says he worked the earliest years of his career in the oil industry. They weren't happy times.

"I spent two years around South-east Asia as a navigator on seismic ships. At the time, I didn't have any real knowledge of the environment, but this changed pretty quickly. I was disturbed by the wanton destruction and pollution that is associated with what we did. I made a complaint at one stage to the management and they threatened me with my job. That helped me form a picture of the industry itself."

So is The Oil Price a form of payback for those unhappy years?

"What I tried to write was a satirical view of the bad behaviour that goes on in that business ... [Peking Petroleum] is a fabricated company. I've never worked in the oil industry at that level. It's just a vehicle to tell a story."

That story is also a work-in-progress. The Oil Price made it into print only because Lane willed it there. Now he's working with an editor and looking for a publisher to help polish his diamond in the rough.

"I haven't had the benefit of an editing team and a publishing house ... [but soon] there will be a new version of the book online ... The story won't change. I'm just finessing the editing."

The Oil Price version 2.0 will be available via his website.

"There will also be some teaser information about a new novel I'm writing called Intervene.

"I'm hoping to publish it before the world environment summit in Rio de Janeiro in June next year," he says, revealing his planning gene once more.

"It's a story about a spaceman who comes down to earth with $17 trillion to bankroll a mission towards a sustainable economy."

It remains to be seen if his mission will take him to the Arabian Gulf.

Game Changer

Director: Shankar 

Stars: Ram Charan, Kiara Advani, Anjali, S J Suryah, Jayaram

Rating: 2/5

The Sand Castle

Director: Matty Brown

Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea

Rating: 2.5/5

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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

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Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
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Wolves 1
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Essentials

The flights

Emirates and Etihad fly direct from the UAE to Geneva from Dh2,845 return, including taxes. The flight takes 6 hours. 

The package

Clinique La Prairie offers a variety of programmes. A six-night Master Detox costs from 14,900 Swiss francs (Dh57,655), including all food, accommodation and a set schedule of medical consultations and spa treatments.

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Directed by: John Lee Hancock

Starring: Denzel Washington, Rami Malek, Jared Leto

Four stars

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Install an air filter in your home.

Close your windows and turn on the AC.

Shower or bath after being outside.

Wear a face mask.

Stay indoors when conditions are particularly poor.

If driving, turn your engine off when stationary.

IPL 2018 FINAL

Sunrisers Hyderabad 178-6 (20 ovs)
Chennai Super Kings 181-2 (18.3 ovs)

Chennai win by eight wickets

COMPANY PROFILE
Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
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Directors: Avinash Arun, Prosit Roy 

Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong

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Babumoshai Bandookbaaz

Director: Kushan Nandy

Starring: Nawazuddin Siddiqui, Bidita Bag, Jatin Goswami

Three stars

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Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
 
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Round 3: February 7-9, Dubai Autodrome – Dubai
 
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
 
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
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