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& H: R) y4 B4 K$ a3 |2 \Below is an Interesting article I found, which says that.....Do not 2 [3 o$ Y! B# I c
expect much from Crude Oil producers and future is not with the
& T4 V- @; @. v1 K! y, o8 Gcompanies producing Jet fuels but Biofuels. Also no wonder if some of
/ K+ `* z0 K( F5 u( Tthese oil producer will go bankrupt or out of the business even if , X8 ~+ c# \6 B4 U. U9 h
crude prices improves. This implies also to good names such as Shell,
0 ]. b- p% l# ^$ z. Z$ O$ H: dEXXON, BG, BP, Cheveron ....xyz.. oils . U6 G- N2 b4 l8 E
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Recently OPEC reduced crude oil production twice over just a few
0 T; n | V+ N8 o; m1 {; zmonths. There are three wars going on in Gaza, Iraq and Afghandistan.
& \5 |* u# x* Y" u- CA year ago these things would have spiked the price of crude oil by at
/ Y2 ~5 S/ c, N7 Kleast $50.00 per barrel. Today, oil price declined by a record amount.
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4 l1 R* l- p" ~6 C5 pThere are several reasons the price of oil is decreasing in the face 8 G) q) }% p9 q+ {( R
of so much news. These reasons are: 8 [+ D& e& M% c7 c# ^
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1. New oil has been found in Canada, Montana, North & South Dakota and
. `' x2 V% t7 ?' N& ?' O* B, lin the ocean near Brazil. Each of these oil fields has more oil than * O9 ^% r( H( Z/ G
Arabia.
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& B6 ?% W# {! t8 A' f2. New natural gas has been found in Pennsylvania and West Virginia. # I5 s* m- |/ i: \! d' _
This is the largest find in North America.
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2 {9 o" c( I, |1 n/ B* ^; V6 r3. New methods of injecting CO2 and surfactants into oil wells is # A3 o# p( P- O8 y+ }
being used to double their output.
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4. Production of bio-fuels is beginning to reach critical mass. Bio ; W6 C$ p! z$ \% v; ?
fuel is being produced from many plants and algae. The production * B5 a5 f8 \, A% \
potential per acre in some cases is astounding. Many countries are
6 E5 D# }. B, [9 ~# t! T5 [racing to produce bio fuels.
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5. Virtually every restaurant in the US and all food processing plants 6 B/ }7 D0 ^( Y% p" X
are now selling their used oil to bio-diesel producers. Every pork, * k: U$ z! A( T- H, ]% l3 X! |) ~9 i
cattle, turkey and chicken processing plant will soon sell their fat
; ~( _5 }/ A, |/ E# [: K' vto bio-diesel producers. One pork processing plant in Oklahoma is * B" R; b$ n- @% {* q
producing 30,000 gallons of bio-diesel per day from pork fat. + C1 E! t3 C5 U. ^1 d* ~6 o9 v
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6. There are 99 nuclear reactors in various stages of planning and
2 O/ c0 p& y6 I3 e- dconstruction around the world at this time. Several hundred more are 9 w( z) ~& Z; ^1 `% g" E/ L
expected to be built in the future. Much of the energy they produce
8 ^7 L$ o: B. j uwill replace oil. $ g+ y# n1 g# g, Q# ]- v
5 R9 C- G$ B' Y# ^% ]
' k2 h! D/ ^/ H3 ]7. Every company in any form of transportaion business is replacing ) r, Y* M1 x6 f1 ? k; H, l
older equipment such as trucks, airplanes, train engines, ships, etc.
" X* E+ t' q" y) }4 Iwith new more fuel efficient equipment. Airlines and railway companies ( w0 m% Y, s% M4 q
are experiencing 20% to 25% better fuel econony with the new
! B5 J5 C; _: \3 A% hequipment.
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Airlines are flying airplanes with bio-fuel. They are finding the bio- ! Q) i& G2 \* B G9 F. t
fuel is cleaner and performs better than jet fuel. 2 M( P$ Y1 Z. h8 V' O( X
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8. Cities and counties throughout the US are selling the rights to
; `" o3 U1 L5 Q: Vcapture methane gas from landfills. This is a huge source of gas
# m* h4 C- E$ davailable at very little cost or risk. The gas is displacing crude
* s' M! a8 x* `+ S0 \/ Zoil. 4 m$ Q" H+ T+ @- g
1 ]: S3 ~2 t1 w" Y
( g- z& q7 t }. n9 e/ _' @; t: K! ?9. Coal is being transformed into a clean burning liquid fuel. The CO2
2 g6 f2 F: h1 Dproduced as a byproduct is sold to oil companies for injection into 2 X" J0 o c8 i
oil wells. 4 K3 s! ^7 e0 z1 V
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/ f* `6 `* W: W/ O10. Solar, wind and ocean energy is displacing oil as an energy O8 O' j2 f6 d G
source. Three new wind turbines are being erected every day in the US. & \, e5 ^' |9 V: c) V* ^
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6 I( `! ?$ S7 Y1 \Each of the above by itself will not make a large difference in the 0 a9 H# }; @. o6 L- e; L
price of crude oil but the sum of all of them together is world ! ^- s: C) \9 t# c
changing. The important thing is that OPEC no longer has the ability : d+ y7 k( d1 d+ f, C5 p
to control oil prices.
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7 T$ G- _& N' Y T7 x% d5 KWith the above scenario, I still believe that there are under 8 ?0 c1 n; h# [5 j3 E8 A
performed OIL companies and probably they are yet to get the justified
& K( H9 X- y) r ]! K/ Y) tvalue .....
9 ?3 q) A" c( d7 F0 ~- T8 tIAE- Ithaca , EPL Energy Partners Ltd, Opti etc ...
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$ u2 ^ I, ]! D9 A g+ x( R/ {/ Z8 T0 kThe above articles are from WSJ .............PUBLISHED ON 9TH JAN
: N+ k# v+ J* [3 U) g2009 ... FYI-Only |
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