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Below is an Interesting article I found, which says that.....Do not . d4 I) J: j' L
expect much from Crude Oil producers and future is not with the ( u* a6 ]+ M5 Q/ W
companies producing Jet fuels but Biofuels. Also no wonder if some of
; U1 m2 w/ F* cthese oil producer will go bankrupt or out of the business even if & D9 T; ?$ @0 k. j2 r
crude prices improves. This implies also to good names such as Shell,
; b7 x# p. O* l3 g9 ^$ ^EXXON, BG, BP, Cheveron ....xyz.. oils . J+ ~' y, A6 t% i0 s! {2 c7 F
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Recently OPEC reduced crude oil production twice over just a few ; K) g: `8 v) J( v( T. E1 G$ s
months. There are three wars going on in Gaza, Iraq and Afghandistan. f, {" u! s5 ?" z
A year ago these things would have spiked the price of crude oil by at 4 n0 T5 {7 k- O, U* b/ t
least $50.00 per barrel. Today, oil price declined by a record amount.
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There are several reasons the price of oil is decreasing in the face ) X8 t5 M6 Q% A X+ U+ s3 n( J' F
of so much news. These reasons are: + |, _, U% y) @; F8 c8 K. r
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8 _/ z2 R$ ^* ?$ P! E, ?1. New oil has been found in Canada, Montana, North & South Dakota and " m. n4 ^+ ~- H! _: w7 W; ^
in the ocean near Brazil. Each of these oil fields has more oil than
' ^2 j/ v4 V( I& h9 t3 t& ?Arabia.
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1 i/ n. E) _1 G; I2 c m, F2. New natural gas has been found in Pennsylvania and West Virginia.
4 E" Z2 i* r: ^0 ]7 o3 w8 A' e3 k( JThis is the largest find in North America.
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3. New methods of injecting CO2 and surfactants into oil wells is
3 V3 G2 B2 ~8 H# V/ d4 bbeing used to double their output.
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4. Production of bio-fuels is beginning to reach critical mass. Bio
7 {7 ?0 \4 d- x8 o/ f0 t* }fuel is being produced from many plants and algae. The production
: c2 A L4 V7 {" V; a! tpotential per acre in some cases is astounding. Many countries are
1 M8 u* N% }; J1 g( v7 |9 N+ Cracing to produce bio fuels. : Q3 I0 M2 T6 g( C( `
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4 G; Z' _1 m, m5. Virtually every restaurant in the US and all food processing plants " Z+ e$ l# f' T% }1 R) p7 K
are now selling their used oil to bio-diesel producers. Every pork,
& D* _) G8 M* xcattle, turkey and chicken processing plant will soon sell their fat
2 P" E+ b( _! I. g( v4 t/ I3 x( ?to bio-diesel producers. One pork processing plant in Oklahoma is
, B" h# t5 ^* j* 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 * j& Q/ f! Q$ s5 G5 r6 r$ @
construction around the world at this time. Several hundred more are
' I# }# ?3 W/ P- r& Vexpected to be built in the future. Much of the energy they produce
3 K, e O! C' j# z4 q; Uwill replace oil. * G# `4 |% _( a1 i% ^
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' p' W! @. o" o# K" f/ p; M; q7. Every company in any form of transportaion business is replacing
$ G# U- p' _3 Nolder equipment such as trucks, airplanes, train engines, ships, etc.
6 }% d; H7 q. n& ~- @with new more fuel efficient equipment. Airlines and railway companies 1 e( u/ U) A: E: j" A1 g2 B$ q A% N, ]
are experiencing 20% to 25% better fuel econony with the new ) `: Y. R! c$ _% f& y7 V/ y
equipment. % Q; P2 p: N. U+ x3 \8 v
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Airlines are flying airplanes with bio-fuel. They are finding the bio-
) T4 D6 P3 X; E) q( D2 n9 x/ P2 ffuel is cleaner and performs better than jet fuel. 9 c2 T1 {# v8 m: E9 d7 Y) c
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; w T- q6 Q" Q1 m" {( ?8. Cities and counties throughout the US are selling the rights to R# n1 G/ {* d
capture methane gas from landfills. This is a huge source of gas / F; q+ K" o1 J1 Z' F: c
available at very little cost or risk. The gas is displacing crude
9 }" x$ X1 Q4 R2 T/ roil. - M) R4 _+ v0 a3 ?
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9. Coal is being transformed into a clean burning liquid fuel. The CO2
, f. u4 x9 y: t, E$ Z+ Eproduced as a byproduct is sold to oil companies for injection into + R" T4 p+ @$ S) }) o; `
oil wells.
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10. Solar, wind and ocean energy is displacing oil as an energy n0 b/ i) b( m3 Y
source. Three new wind turbines are being erected every day in the US.
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3 ?: p* L8 h1 l# M" GEach of the above by itself will not make a large difference in the
; I' ]. h, K% K- Yprice of crude oil but the sum of all of them together is world 5 }. _0 n3 c1 Z% w6 B: T7 n/ B
changing. The important thing is that OPEC no longer has the ability $ @: G; l) S! P+ B+ K7 e
to control oil prices.
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2 \3 [" S; [# J# O# E6 w, k6 yWith the above scenario, I still believe that there are under
+ m# n3 l) m* i. t( U# F% rperformed OIL companies and probably they are yet to get the justified 5 K9 j4 i& `8 t8 D' Z8 P3 W
value .....
. h/ p" Q! N3 qIAE- Ithaca , EPL Energy Partners Ltd, Opti etc ...
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The above articles are from WSJ .............PUBLISHED ON 9TH JAN 4 u1 o2 B- B/ P
2009 ... FYI-Only |
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