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! O u; t7 n1 ^+ kBelow is an Interesting article I found, which says that.....Do not # Z; b9 l; r" P$ i) t' y
expect much from Crude Oil producers and future is not with the
7 f& h6 F7 R* |0 s, B0 @' d) f5 Kcompanies producing Jet fuels but Biofuels. Also no wonder if some of $ n5 }/ h: S& u; w
these oil producer will go bankrupt or out of the business even if 3 B8 a: [0 G5 A3 f5 I! h) v
crude prices improves. This implies also to good names such as Shell, 7 I( S( X) r: @2 Q6 a' @5 U( ~0 b
EXXON, BG, BP, Cheveron ....xyz.. oils ( ^! @8 l8 _4 r9 X7 r
: B3 E9 b+ W6 L& f( PRecently OPEC reduced crude oil production twice over just a few
% s4 X. Q+ c6 V# B0 ] m- Y/ Omonths. There are three wars going on in Gaza, Iraq and Afghandistan.
* ]( X* z* f1 x) IA year ago these things would have spiked the price of crude oil by at 6 b6 J4 e O, A" e
least $50.00 per barrel. Today, oil price declined by a record amount.
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/ {! b- r; x. A; `There are several reasons the price of oil is decreasing in the face
8 _# }7 M3 V% ~* J7 Eof so much news. These reasons are:
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0 k" ? G3 U' z' W4 M1. New oil has been found in Canada, Montana, North & South Dakota and 4 A$ r2 Y/ c8 Y5 V( h6 {
in the ocean near Brazil. Each of these oil fields has more oil than 7 k1 j' E) |8 c7 H# ?- _3 d) R+ h
Arabia. & J1 N* ?0 V3 O- P- ], X& E
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; k: F. k! h! X" c2. New natural gas has been found in Pennsylvania and West Virginia.
- P5 ~) e6 o: o6 v1 o5 F! AThis is the largest find in North America. u; G+ A" C# W% G' C! R
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) e6 E9 Y w+ Y$ {8 W; e3. New methods of injecting CO2 and surfactants into oil wells is
% I/ A& k! O4 T- c! nbeing used to double their output.
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4. Production of bio-fuels is beginning to reach critical mass. Bio 7 @7 d- Y* j2 U* z$ |
fuel is being produced from many plants and algae. The production
/ Y4 U- }9 q( F# a' h$ d) Vpotential per acre in some cases is astounding. Many countries are
7 f, o+ g0 V; t1 h" U% cracing to produce bio fuels.
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8 D8 `! _7 Z+ J3 C5. Virtually every restaurant in the US and all food processing plants
( s' _5 n) H. @0 d% T' u9 w, ]are now selling their used oil to bio-diesel producers. Every pork, : B) V* F; b3 k3 r0 D( \& c, E( l
cattle, turkey and chicken processing plant will soon sell their fat
. z! H \7 z2 j/ ~6 @; Cto bio-diesel producers. One pork processing plant in Oklahoma is * k4 |3 }2 Y% J6 i3 J' D6 }
producing 30,000 gallons of bio-diesel per day from pork fat.
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9 H1 J2 _$ ^: D6 Q6. There are 99 nuclear reactors in various stages of planning and ( ~" b6 n P) ?* `5 p5 M: N
construction around the world at this time. Several hundred more are ) C% C9 y6 v8 _" P [
expected to be built in the future. Much of the energy they produce 9 ]! ~0 J. [! {; E [# h8 Y
will replace oil. a+ }0 c$ e( u4 w
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` G3 f3 ]* v D. s5 ]: }) L7. Every company in any form of transportaion business is replacing * L5 Y- O$ [1 I
older equipment such as trucks, airplanes, train engines, ships, etc. + W. S6 H1 [) S' r3 s6 i
with new more fuel efficient equipment. Airlines and railway companies 6 Z- E$ } \3 c7 }6 U
are experiencing 20% to 25% better fuel econony with the new 3 H! c$ |1 x S+ x2 Y
equipment.
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, c& U0 c& M! F3 A3 |Airlines are flying airplanes with bio-fuel. They are finding the bio- - i B1 f" x- C
fuel is cleaner and performs better than jet fuel. 0 D: {& F' q% S V! Z, [
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E. ^" t0 P7 z: ~6 ]8. Cities and counties throughout the US are selling the rights to
, V3 q, k, n8 Acapture methane gas from landfills. This is a huge source of gas
/ Q3 n5 E0 |8 t2 s3 yavailable at very little cost or risk. The gas is displacing crude
- a6 a% r# [ yoil.
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6 s4 y4 J L# L# y# [4 Q1 ]9. Coal is being transformed into a clean burning liquid fuel. The CO2 + m; T6 V& _/ x( L, |* B
produced as a byproduct is sold to oil companies for injection into
5 i& P4 x" m0 soil wells.
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6 V1 p# j( x4 ^10. Solar, wind and ocean energy is displacing oil as an energy % } A6 H6 e; K5 b
source. Three new wind turbines are being erected every day in the US. * o/ x) z9 ]% ]
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( i6 i' f) i+ d/ B9 |Each of the above by itself will not make a large difference in the * m' p6 f% R% q: [1 k% N
price of crude oil but the sum of all of them together is world
* F5 }! \' x& b6 I' S, Achanging. The important thing is that OPEC no longer has the ability
3 ~3 H; G ?% H, F ~' C. Wto control oil prices. ( h' |9 `: z9 [
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With the above scenario, I still believe that there are under
% z6 m. m: P8 \$ y* e: b- Operformed OIL companies and probably they are yet to get the justified # _* h7 V7 R* W4 o
value .....
( m% z2 A' ~) U! I" j: ~2 mIAE- Ithaca , EPL Energy Partners Ltd, Opti etc ...
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The above articles are from WSJ .............PUBLISHED ON 9TH JAN + `% o. h# v& M/ k# B! s
2009 ... FYI-Only |
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