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Below is an Interesting article I found, which says that.....Do not $ N2 ]9 B9 E9 Q2 ? v
expect much from Crude Oil producers and future is not with the ) @' ^4 T; }1 ?3 `. q) o
companies producing Jet fuels but Biofuels. Also no wonder if some of
; M7 U- X, Q* Xthese oil producer will go bankrupt or out of the business even if
' P; ~ `1 ~" O7 S8 X% ]: j& A5 `crude prices improves. This implies also to good names such as Shell, : [7 `/ W; T6 _1 W
EXXON, BG, BP, Cheveron ....xyz.. oils
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- N$ M1 k) r' ~8 S. _. M) sRecently OPEC reduced crude oil production twice over just a few 4 J$ N/ S- L* R$ u' F! T' p
months. There are three wars going on in Gaza, Iraq and Afghandistan.
* P9 q- a4 i9 C" F0 {: I+ h% `A year ago these things would have spiked the price of crude oil by at * b; v: e: Z2 R5 v
least $50.00 per barrel. Today, oil price declined by a record amount. : j8 T) l1 j& @$ n
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' W9 K1 H. [* OThere are several reasons the price of oil is decreasing in the face * D+ j" ^) N$ x
of so much news. These reasons are:
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1. New oil has been found in Canada, Montana, North & South Dakota and
0 s# w* u: t' a6 G L j8 Xin the ocean near Brazil. Each of these oil fields has more oil than
: `& Y; i4 {) o l/ ]Arabia.
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2. New natural gas has been found in Pennsylvania and West Virginia.
. V- z' W- K6 z* a* |This is the largest find in North America. 5 ^: N3 n) R" |+ u m
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F. D4 }2 ]' `" ]3. New methods of injecting CO2 and surfactants into oil wells is 6 m* M' r a w" P- Q$ I' x* M
being used to double their output. 2 s1 D; O% M* f) T, R# d
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, A8 j8 @7 O5 @/ H- O4. Production of bio-fuels is beginning to reach critical mass. Bio
% c7 I: [" p2 l# ^' E& H: vfuel is being produced from many plants and algae. The production $ e1 m* I9 D$ i" b; j9 [
potential per acre in some cases is astounding. Many countries are 7 Q) o$ u# e4 m
racing to produce bio fuels. 6 m, J2 }5 S, Q) V& m
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' j1 o, z4 O6 z: J4 H0 i* u) U6 V1 `5. Virtually every restaurant in the US and all food processing plants
/ P. d! B* J7 U+ q& C0 Tare now selling their used oil to bio-diesel producers. Every pork,
! I& M. m, K/ p- zcattle, turkey and chicken processing plant will soon sell their fat
! E: c' e" M3 I! h, b2 @3 rto bio-diesel producers. One pork processing plant in Oklahoma is
' z+ c" C3 M. ]5 D) G* H" ^ J% Kproducing 30,000 gallons of bio-diesel per day from pork fat.
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# C+ u' n2 `# x" E3 y) L: w6. There are 99 nuclear reactors in various stages of planning and 2 t" R6 q9 X- @7 o" G
construction around the world at this time. Several hundred more are
7 G3 j$ L& _: P4 y% n$ yexpected to be built in the future. Much of the energy they produce
( p! p3 {2 i. G. qwill replace oil. . w5 m! i# b" O! G: }( ~8 V, ]" L8 R
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7. Every company in any form of transportaion business is replacing
7 l% f' W9 [- x5 `older equipment such as trucks, airplanes, train engines, ships, etc.
$ y% U( t1 O- |& mwith new more fuel efficient equipment. Airlines and railway companies
/ b% i6 d3 t6 v& {, H& Jare experiencing 20% to 25% better fuel econony with the new
, e" V+ [( G- pequipment.
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Airlines are flying airplanes with bio-fuel. They are finding the bio- # ?, }- w c- [; T
fuel is cleaner and performs better than jet fuel. & r8 Y7 b- g5 H. ?8 h; U
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8. Cities and counties throughout the US are selling the rights to
2 C9 V+ l7 i0 E( k7 Z2 g: Fcapture methane gas from landfills. This is a huge source of gas
/ S7 v1 ?# W9 |( ]# r, R* Bavailable at very little cost or risk. The gas is displacing crude ( D. K6 z5 j7 u/ B
oil. * u2 T9 A& n5 L2 h: p* H
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9. Coal is being transformed into a clean burning liquid fuel. The CO2
) s( }' O8 c8 {0 P2 v1 B% [0 P2 Rproduced as a byproduct is sold to oil companies for injection into
# _# k. W F6 k. J; C1 Aoil wells.
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' U+ e7 G3 T$ S) o) _ J10. Solar, wind and ocean energy is displacing oil as an energy ' F+ F1 Y3 P6 l( [* Q/ Z* M, L
source. Three new wind turbines are being erected every day in the US.
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Each of the above by itself will not make a large difference in the 4 y k9 y$ Q* M4 Q) ~) x, z4 O3 z
price of crude oil but the sum of all of them together is world
0 c3 A( p+ f Vchanging. The important thing is that OPEC no longer has the ability
/ U, i |' x: g$ z( Tto control oil prices. ' W( n0 l- i# v3 d7 @) I! q4 q3 B
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With the above scenario, I still believe that there are under 0 R* ]& F5 S l1 V/ z2 f, h3 m& }
performed OIL companies and probably they are yet to get the justified ( X! g" y3 o3 A& O
value ..... 3 Z* z4 }2 g7 p1 d
IAE- Ithaca , EPL Energy Partners Ltd, Opti etc ...
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The above articles are from WSJ .............PUBLISHED ON 9TH JAN # F5 X# Y1 \5 A5 @) Q1 ?
2009 ... FYI-Only |
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发表于 2009-1-13 18:58
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