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Below is an Interesting article I found, which says that.....Do not " V- j( L6 D6 p, p# h
expect much from Crude Oil producers and future is not with the 4 d+ {0 i% C4 l5 O- ? @ G
companies producing Jet fuels but Biofuels. Also no wonder if some of 1 a H9 e, V* z0 z' O% t% J% a1 ]
these oil producer will go bankrupt or out of the business even if
& g# d6 A4 [2 kcrude prices improves. This implies also to good names such as Shell,
9 Y6 N+ g( V2 x/ t/ c" TEXXON, BG, BP, Cheveron ....xyz.. oils
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Recently OPEC reduced crude oil production twice over just a few
4 B/ F0 N- E0 z3 o0 Bmonths. There are three wars going on in Gaza, Iraq and Afghandistan.
) b6 w& R) P# Z6 r) G1 [A year ago these things would have spiked the price of crude oil by at 0 s: m4 T3 A6 q |$ j' i+ z
least $50.00 per barrel. Today, oil price declined by a record amount. + M4 ]& j' ]3 n# H& I! z7 F: j- _
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, t" C1 q9 M2 y; S/ D; x& FThere are several reasons the price of oil is decreasing in the face
1 G9 ? F. ^1 K ?3 E5 Dof so much news. These reasons are: % Y0 T" @! a* w9 D: a$ x
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' V ?7 y& \: v5 J1 U1. New oil has been found in Canada, Montana, North & South Dakota and ( Q K0 v0 P! h2 a
in the ocean near Brazil. Each of these oil fields has more oil than 2 ~: \+ Y- b1 B4 h( x4 U0 f$ y; ^
Arabia. 0 S% ~5 {. Q4 w% i* g& l9 p# C
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2. New natural gas has been found in Pennsylvania and West Virginia.
+ C( Y9 ]5 P( o' k; JThis is the largest find in North America. ) F$ A9 Q9 d- h
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: c/ }) j2 |$ O+ n7 {3. New methods of injecting CO2 and surfactants into oil wells is / ~" g( o( F6 l( W6 F7 e
being used to double their output.
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R9 }) G. }* i# A; s4 Z( q) T4. Production of bio-fuels is beginning to reach critical mass. Bio & X: ~+ G3 p5 H6 i5 z" H9 {
fuel is being produced from many plants and algae. The production
! E( l, N2 {8 H; ppotential per acre in some cases is astounding. Many countries are
& O, Z! u3 a. O3 I5 Z2 Nracing to produce bio fuels.
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1 K* P2 M8 x; r7 M5. Virtually every restaurant in the US and all food processing plants : R; F9 ^; Y. ?% V" s$ c2 g* E
are now selling their used oil to bio-diesel producers. Every pork, % M6 h+ C {0 i1 \4 V
cattle, turkey and chicken processing plant will soon sell their fat 1 ]) u1 s. r! c5 W4 {: ?! J1 j4 D
to bio-diesel producers. One pork processing plant in Oklahoma is
! ]$ f1 |& h8 _7 K8 Sproducing 30,000 gallons of bio-diesel per day from pork fat. 0 g8 N* a3 `6 j9 L6 a* ~
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6. There are 99 nuclear reactors in various stages of planning and
, c& M3 H( q1 h* l1 F5 {8 u1 Fconstruction around the world at this time. Several hundred more are + T+ \( b L0 H$ S6 x1 q
expected to be built in the future. Much of the energy they produce - c) x" O, T1 I* j
will replace oil.
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7. Every company in any form of transportaion business is replacing . G) T5 z* {3 v, `
older equipment such as trucks, airplanes, train engines, ships, etc. - O- @9 u6 O; k
with new more fuel efficient equipment. Airlines and railway companies
* s; _% q+ y0 \- }! w% O% U" x( q% sare experiencing 20% to 25% better fuel econony with the new 1 R. Q: Y" b0 B8 Z
equipment. ! u1 H- v# e: u" h3 L
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Airlines are flying airplanes with bio-fuel. They are finding the bio-
, ]2 _* y* M- W6 Efuel is cleaner and performs better than jet fuel. 1 y2 X7 k8 W) @. k! R" @/ S
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0 l( p$ O, D1 s) M( d+ ^8. Cities and counties throughout the US are selling the rights to ' @) q. n3 [, f( F1 |
capture methane gas from landfills. This is a huge source of gas . u5 Y2 l0 b( A$ s- e/ h" T7 \, j
available at very little cost or risk. The gas is displacing crude
( _. N! }' J. n; \oil. 1 a. C- k; W3 \. M' m) A
# o( |1 f9 l+ m3 L
; e; Y( ~' `: O% D% q9. Coal is being transformed into a clean burning liquid fuel. The CO2 2 [( X: w7 y# L
produced as a byproduct is sold to oil companies for injection into
% N( r& ~* R, V" qoil wells. % Z5 Q2 I2 o* p' {+ `6 v
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10. Solar, wind and ocean energy is displacing oil as an energy * Z# x1 [' L; @
source. Three new wind turbines are being erected every day in the US. # @; _/ B" g( c- v
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# \ F& @2 x0 pEach of the above by itself will not make a large difference in the # `1 s0 t+ M \7 x( N& d
price of crude oil but the sum of all of them together is world
& ~" J( `7 u/ F" y$ K" z3 lchanging. The important thing is that OPEC no longer has the ability
. G; t+ q) Y9 J: K9 K% J% Vto control oil prices. # q) Q2 `& ]. ?9 g/ a3 S
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; O- t3 w8 M% B' q+ ^- Q& RWith the above scenario, I still believe that there are under - p, k. n3 G* p, m* l
performed OIL companies and probably they are yet to get the justified
4 U5 P: H$ p) W! _. s& H" nvalue .....
# x- s5 q# P6 W' E0 O% \- PIAE- Ithaca , EPL Energy Partners Ltd, Opti etc ...
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1 s7 X8 X Y/ h1 AThe above articles are from WSJ .............PUBLISHED ON 9TH JAN
' N! U$ W) q) o, n, ^4 a; q! E/ A2009 ... FYI-Only |
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