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Below is an Interesting article I found, which says that.....Do not 0 A* c+ M0 D# _ U, S9 v+ e
expect much from Crude Oil producers and future is not with the
5 l' w; ^2 x/ s$ d1 Z( H! n% `2 hcompanies producing Jet fuels but Biofuels. Also no wonder if some of 5 f5 J. j5 o. h! `1 i/ W" E; B
these oil producer will go bankrupt or out of the business even if * \) u0 W% U7 B) |
crude prices improves. This implies also to good names such as Shell,
6 u( s6 S# e3 o0 lEXXON, BG, BP, Cheveron ....xyz.. oils
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Recently OPEC reduced crude oil production twice over just a few o$ n0 w7 F0 `( c- K) ^9 \: f- ~
months. There are three wars going on in Gaza, Iraq and Afghandistan. - @, o' c) n' U3 _ @& b/ }
A year ago these things would have spiked the price of crude oil by at - C) E! y) u: o: H- `
least $50.00 per barrel. Today, oil price declined by a record amount.
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8 x3 \* }% U+ x2 E o; EThere are several reasons the price of oil is decreasing in the face $ Z4 [4 M3 Z$ S9 c% G' U: Z! M
of so much news. These reasons are:
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1. New oil has been found in Canada, Montana, North & South Dakota and
1 E& h9 x. l# C' R- @3 l$ Y6 Uin the ocean near Brazil. Each of these oil fields has more oil than
1 _7 Q; ], f7 L* xArabia. " B4 Q0 E* s7 `. I5 J! Z
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2. New natural gas has been found in Pennsylvania and West Virginia. & M2 K+ N7 @, U/ B4 e* y' M, A# x! ^: T
This is the largest find in North America. , l( a5 u9 ~& x
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5 D: o( Y8 p5 L3. New methods of injecting CO2 and surfactants into oil wells is / ~1 G) w* G0 H( D) Q7 q
being used to double their output.
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5 S2 ]( ~ Q! N X# k" c( O4. Production of bio-fuels is beginning to reach critical mass. Bio 1 m7 E ~2 l! E
fuel is being produced from many plants and algae. The production 4 M7 ?0 b# u% R1 P. [% h
potential per acre in some cases is astounding. Many countries are 5 O: m7 `# H% L& j2 j& P
racing to produce bio fuels. 6 b, x8 `6 B0 q
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5. Virtually every restaurant in the US and all food processing plants
+ A6 e% h* Q5 S! Gare now selling their used oil to bio-diesel producers. Every pork, 9 T- g1 J3 u) e
cattle, turkey and chicken processing plant will soon sell their fat
( w+ J$ l4 _$ s$ Q; x8 Vto bio-diesel producers. One pork processing plant in Oklahoma is
9 j% s" o! i$ V! f* nproducing 30,000 gallons of bio-diesel per day from pork fat.
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6. There are 99 nuclear reactors in various stages of planning and 3 B7 s- W9 W C4 Q( l5 o; J9 M/ A+ }
construction around the world at this time. Several hundred more are ' j$ s- k; j2 S- {) j3 `
expected to be built in the future. Much of the energy they produce
0 X; r3 j2 _% r4 iwill replace oil. 3 B" C; W- B" F2 \3 ^
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7. Every company in any form of transportaion business is replacing % K* _+ }" l1 u7 w
older equipment such as trucks, airplanes, train engines, ships, etc. + u( s& B7 @7 V5 K4 D$ @, c1 ~! t8 o
with new more fuel efficient equipment. Airlines and railway companies ! ^9 {4 f2 ` v1 B
are experiencing 20% to 25% better fuel econony with the new * i( s) W1 z# o% _
equipment.
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Airlines are flying airplanes with bio-fuel. They are finding the bio- 9 T1 A! `0 n& |. T0 c* O
fuel is cleaner and performs better than jet fuel. & _. n% v- t7 `
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8. Cities and counties throughout the US are selling the rights to
' F/ n7 M' f& A7 g+ v" bcapture methane gas from landfills. This is a huge source of gas
6 i1 M& v U2 p% C. y, R- Savailable at very little cost or risk. The gas is displacing crude
' y9 H+ C u/ S: y4 n8 D1 loil.
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9. Coal is being transformed into a clean burning liquid fuel. The CO2 + B/ s2 Z y4 r9 F; e' P' n
produced as a byproduct is sold to oil companies for injection into : p3 a8 S! y2 o" }6 w% N
oil wells.
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10. Solar, wind and ocean energy is displacing oil as an energy 4 z% Q2 ] n% K4 v+ F# D
source. Three new wind turbines are being erected every day in the US. 7 G6 _& I: [0 C: `
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Each of the above by itself will not make a large difference in the ! G' g* I7 q6 y1 J( G7 J# h
price of crude oil but the sum of all of them together is world 3 s& V! ^6 A/ ^! x% N
changing. The important thing is that OPEC no longer has the ability ' j+ ~, }& [: x: h5 f* q# F
to control oil prices. 0 J* `: X9 K4 c% @5 e5 H6 K0 B9 R* l
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With the above scenario, I still believe that there are under
8 H/ c! T' @9 Aperformed OIL companies and probably they are yet to get the justified 6 u! t* w' q* [& Q# @8 X
value .....
b8 T3 ~3 ^+ [; r% [1 h5 J; e9 ]* GIAE- Ithaca , EPL Energy Partners Ltd, Opti etc ...
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The above articles are from WSJ .............PUBLISHED ON 9TH JAN 8 Z3 O s8 ^' L
2009 ... FYI-Only |
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