Charles T. Maxwell
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Charles Thoburn Maxwell (born October 26, 1931) is a retired securities analyst who specialized in the petroleum industry, and is recognized as among the first to predict the 1973 oil crisis..[1]
WALL STREET CAREER
In 1968 Maxwell joined Wall Street institutional firm Cyrus J. Lawrence, Inc. as a then obscure oil industry analyst. In the spring of 1973, Maxwell wrote a series of papers warning that the price of oil could soon rise dramatically in what he termed “an energy crisis,” touched off by tightening oil supplies and ongoing political events in the Middle East.
Maxwell’s attempts to convince the auto industry of the looming crisis are recounted in David Halberstam’s book The Reckoning, in the first chapter, titled ‘Maxwell’s Warning’.[2]
When the crisis hit in October of 1973, Maxwell became more widely known as a contrarian forecaster of oil industry developments, ranked as the world’s No. 1 International Oil Industry Analyst seven times by Institutional Investor magazine: for the years 1977, and 1981-1986.[3]
During the energy crises of the 1970s and 1980s and in the subsequent collapse of oil prices, Maxwell appeared as an oil and gas industry commentator on all the major TV networks, making nine appearances on PBS’s Wall Street Week with Louis Rukeyser.[4]
In late 1999 Maxwell was appointed senior energy analyst at Weeden & Co. where he was an early proponent of the concept that the planet’s oil reserves are more limited than generally thought, and that global oil production could peak by the 2020s.[5]
EARLY LIFE
Educated at Princeton University (as a Jadwin Scholar majoring in Politics) and then at Oxford (at St. John’s College as a Marshall Scholar[6] studying Arabic and Persian), Charles Maxwell also competed in track and field as a distance runner, first helping to set a university team record while winning the 1951 Millrose Games’ Two-mile Relay[7], then winning the Heptagonal (Ivy League) Two-mile Run in 1953[8], then earning a ‘full Blue’ in the mile run while at Oxford University in 1956[9], and finally, running on the winning team at the U.S. National Cross Country Championships as a member of the New York Athletic Club in 1958[10]
Maxwell entered the oil industry in 1957 and worked 11 years for Mobil Oil in the U.S., Europe, and Africa. On his last overseas assignment, he was a manager of Mobil’s marketing operations in Biafra until the Nigerian Civil War forced him to evacuate his family from the country.
His Mobil posts included the four traditional sectors of the oil industry: producing, refining, transportation, and marketing. He also served two years in the Middle East Affairs department, gaining a firsthand view of OPEC in the late 1960s by preparing position papers for negotiations between the industry and the oil exporting countries.[11]
RETIRED LIFE
Maxwell retired from Wall Street at the end of 2012. He was appointed a director of Tecogen Inc. in 2004, a company that provides industrial cogeneration systems. As an independent analyst, Maxwell predicts a gradually tightening energy supply problem ahead and recommends increasing energy efficiency rather than increasing energy production to solve it.
References[edit]
- ↑ The Reckoning, David Halberstam, William Morrow & Co., 1986, Chapter 1: Maxwell’s Warning
- ↑ The Reckoning, David Halberstam, William Morrow & Co., 1986, Chapter 1: Maxwell’s Warning
- ↑ "The Class of 1972: Where are they now?”,’’Institutional Investor’’ 1 October 2001. Retrieved on 19 January 2018
- ↑ Maryland Public Television, producer of Wall Street Week with Louis Rukeyser, Archives Department (410)356-5600
- ↑ Peak Oil Personalities, Colin Campbell, Inspire Books, 2011, p. 183.
- ↑ Directory of Marshall Scholars 1954-2014, Assoc. of Marshall Scholars, 2014, p.138
- ↑ “1951 Winter Sports in Mid-Passage, Princeton Alumni Weekly, Vol. 52, p. 14, 1 February 1952”,’’[books.google.com]], Retrieved on 19 January 2018.
- ↑ “Heps Men’s Outdoor Track & Field Championships Team Scores 1953”,‘‘hepstrack.com’’, Retrieved on 19 January 2018.
- ↑ "Cambridge Overwhelmed In University Sports." Times [London, England, Issue 53500, p. 12, 9 April 1956”],’’The Times Digital Archive. Web.”, Retrieved on 06 August 2018.
- ↑ “U.S. National Cross Country Champions, A Comprehensive and Complete List”,’’therealxc.com’’ Retrieved on 19 January 2018
- ↑ Peak Oil Personalities, Colin Campbell, Inspire Books, 2011, p. 178-179.
External links[edit]
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