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Below is an Interesting article I found, which says that.....Do not ; j: t7 B. q3 e6 h+ A+ M. f
expect much from Crude Oil producers and future is not with the
% g, e5 j0 o- J5 j4 V+ D/ `8 G( _companies producing Jet fuels but Biofuels. Also no wonder if some of
5 }# ^/ B i' e j& U* Sthese oil producer will go bankrupt or out of the business even if : F6 w2 ~# O# J5 M
crude prices improves. This implies also to good names such as Shell, 5 U7 D$ \8 c, d7 O1 Y' s
EXXON, BG, BP, Cheveron ....xyz.. oils F$ R8 S2 o A
. L9 c- y% M# R: kRecently OPEC reduced crude oil production twice over just a few ; I, I/ r, _% F3 r `* g! V
months. There are three wars going on in Gaza, Iraq and Afghandistan.
6 q* d2 m: J" c7 z* O* AA year ago these things would have spiked the price of crude oil by at + @8 c- b' U9 r. C! n! }
least $50.00 per barrel. Today, oil price declined by a record amount.
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There are several reasons the price of oil is decreasing in the face $ W8 O9 b9 V6 T' r; ^; w; ?4 r A
of so much news. These reasons are:
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6 o1 U: ^ l, v1. New oil has been found in Canada, Montana, North & South Dakota and ; W9 s I; h5 g1 T; b8 O/ @% b
in the ocean near Brazil. Each of these oil fields has more oil than 3 N2 J4 d6 ]) {: d D k! y
Arabia.
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2. New natural gas has been found in Pennsylvania and West Virginia.
0 B9 w, F$ Q, l: }" ~, dThis is the largest find in North America.
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3. New methods of injecting CO2 and surfactants into oil wells is
$ S& J. I( r1 M& X2 rbeing used to double their output. ' W B! M, j. e$ v6 L4 d" G
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4. Production of bio-fuels is beginning to reach critical mass. Bio
3 F, T) \1 i/ o' h6 [, \fuel is being produced from many plants and algae. The production
2 }. A4 j7 j" V) t6 Z+ `' ipotential per acre in some cases is astounding. Many countries are 4 U6 ^. }6 R3 V6 l
racing to produce bio fuels. 5 G5 Q' y: W# Z9 @( q8 U
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. z- j3 n R* a3 `: C" t- f5. Virtually every restaurant in the US and all food processing plants 9 ~" f" q4 t9 F ?
are now selling their used oil to bio-diesel producers. Every pork, ' f$ C+ E, l, z* ?
cattle, turkey and chicken processing plant will soon sell their fat
+ D! w, v! H; Y- \. c. Jto bio-diesel producers. One pork processing plant in Oklahoma is 1 u$ t# ?5 N6 y. g7 h
producing 30,000 gallons of bio-diesel per day from pork fat. 6 f; V: T }8 {1 R! Q5 u0 c
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/ ]0 Y- u( }5 S6. There are 99 nuclear reactors in various stages of planning and
: C- k5 |7 X9 j+ {construction around the world at this time. Several hundred more are
( b. @0 e) w: q4 s6 Dexpected to be built in the future. Much of the energy they produce $ I: E: I2 h$ t) o$ a: }- p8 V& s
will replace oil. 2 }: u& g8 v" g1 y/ w0 a
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7. Every company in any form of transportaion business is replacing
; b' _. h+ P9 U }' M4 D% aolder equipment such as trucks, airplanes, train engines, ships, etc.
9 J2 u/ r$ q3 Hwith new more fuel efficient equipment. Airlines and railway companies 8 N6 e, Z2 b3 b. W2 D
are experiencing 20% to 25% better fuel econony with the new 8 U/ P0 b1 i! z, z
equipment.
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$ r# I$ s# _4 K8 X1 RAirlines are flying airplanes with bio-fuel. They are finding the bio-
* O2 d& y2 Z% v# Z4 Tfuel is cleaner and performs better than jet fuel. 9 M6 Q9 g T6 l1 C) p
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8. Cities and counties throughout the US are selling the rights to ' P$ K L4 A; c" y7 b
capture methane gas from landfills. This is a huge source of gas
4 H, @& O6 d; s5 d. H* bavailable at very little cost or risk. The gas is displacing crude + H: J/ u7 d. p8 x0 _
oil. 2 }5 R4 }" V/ T
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9. Coal is being transformed into a clean burning liquid fuel. The CO2
) }2 ?3 V4 d5 qproduced as a byproduct is sold to oil companies for injection into
% j L3 i/ F- ^- noil wells. . I$ [; t! Y0 x2 @/ |1 O% U4 d* i/ F
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10. Solar, wind and ocean energy is displacing oil as an energy
9 ]0 o* b7 B, g: g. ~' Psource. Three new wind turbines are being erected every day in the US. 4 M% i6 ]" d" u) Q: y- w
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Each of the above by itself will not make a large difference in the 7 m* f+ \) w; Z% r& I3 ^/ Z2 N" f
price of crude oil but the sum of all of them together is world 8 G$ N1 T9 o- d% I7 J- c3 w1 z6 J& ^
changing. The important thing is that OPEC no longer has the ability
' ~; D; s# M3 e) uto control oil prices.
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% }: B; B- _/ SWith the above scenario, I still believe that there are under
6 p7 D% P4 x: V4 J' Q: Z$ Qperformed OIL companies and probably they are yet to get the justified
! ^+ i0 i$ w; Wvalue .....
0 [# `- {$ h, w, e! PIAE- Ithaca , EPL Energy Partners Ltd, Opti etc ... / B) |" O# e8 R" p; V% u1 s
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The above articles are from WSJ .............PUBLISHED ON 9TH JAN
) X, P& ?9 H9 Q: B2009 ... FYI-Only |
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发表于 2009-1-13 18:58
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