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, ], }3 l: O, ]: }8 b# D. D4 KBelow is an Interesting article I found, which says that.....Do not : i7 ~% U. c6 {5 }3 [$ F: {' ~
expect much from Crude Oil producers and future is not with the
8 P* F( ^( r @companies producing Jet fuels but Biofuels. Also no wonder if some of
1 M8 u1 Z0 L1 Sthese oil producer will go bankrupt or out of the business even if # I- ` g! |% X8 w" R( X
crude prices improves. This implies also to good names such as Shell,
& F3 }. k, y. XEXXON, BG, BP, Cheveron ....xyz.. oils
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Recently OPEC reduced crude oil production twice over just a few
5 \3 E8 i, ^9 A. g2 \* Fmonths. There are three wars going on in Gaza, Iraq and Afghandistan.
; r/ l# C1 ^: v: FA year ago these things would have spiked the price of crude oil by at 1 l% e) K2 I! w* L
least $50.00 per barrel. Today, oil price declined by a record amount.
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There are several reasons the price of oil is decreasing in the face , ?1 X) [+ e* _5 h9 s9 f
of so much news. These reasons are:
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4 s, P7 a8 f6 z& V! t2 ~1. New oil has been found in Canada, Montana, North & South Dakota and
, A7 O+ q& m b2 xin the ocean near Brazil. Each of these oil fields has more oil than
2 K$ f, \8 U8 L3 O) S/ uArabia. 7 `( s/ D% a% D4 [. k
% {+ W9 E1 \: y" J5 P1 _" ]
% X7 T; Q: r9 R. D2 w& }2. New natural gas has been found in Pennsylvania and West Virginia. . E) \! F8 G* c; e; _
This is the largest find in North America.
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1 t3 r. L9 J# V2 L3. New methods of injecting CO2 and surfactants into oil wells is
v/ }* h/ I: p0 U, ybeing used to double their output. $ P$ b! s8 X5 }" c0 A
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4. Production of bio-fuels is beginning to reach critical mass. Bio 8 b0 u: w7 Y& h3 a/ f
fuel is being produced from many plants and algae. The production 7 s9 [) d# T; f" G7 r! i
potential per acre in some cases is astounding. Many countries are
; Z6 n( A6 d1 S7 ]& U" Rracing to produce bio fuels.
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5. Virtually every restaurant in the US and all food processing plants # t/ J6 t7 ], [* Q: d5 e: M* H# S# x
are now selling their used oil to bio-diesel producers. Every pork,
- ?- N- a4 b: n, x6 Zcattle, turkey and chicken processing plant will soon sell their fat q+ `$ B) X' y" E1 d7 i x* L
to bio-diesel producers. One pork processing plant in Oklahoma is , p# Q; b" c* ^6 M% x
producing 30,000 gallons of bio-diesel per day from pork fat. * \! J. T& G8 V- K
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6. There are 99 nuclear reactors in various stages of planning and
* y2 I) `* c* l6 J" _. P2 Yconstruction around the world at this time. Several hundred more are
* @/ |# c- A; G1 _% Aexpected to be built in the future. Much of the energy they produce : r. ]/ ]) ?. J3 j. v
will replace oil. ) G" a$ I& C% Z# o, n5 ~
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7. Every company in any form of transportaion business is replacing 6 G9 c) m4 e7 r1 |
older equipment such as trucks, airplanes, train engines, ships, etc.
; }; D- v' X- uwith new more fuel efficient equipment. Airlines and railway companies
! M- B2 Z& n9 H* l8 q* n( m! ^are experiencing 20% to 25% better fuel econony with the new . j3 Y9 E- g P# {' f
equipment. X% s) w2 ~4 F: i! h( N1 H; N) [
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/ q4 R' o m* U9 F* T- \' ?. XAirlines are flying airplanes with bio-fuel. They are finding the bio- , d3 N6 H5 {9 x1 E
fuel is cleaner and performs better than jet fuel.
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8. Cities and counties throughout the US are selling the rights to
2 q9 v8 Q6 u" o$ x' Z# _capture methane gas from landfills. This is a huge source of gas 7 _. p/ u/ F: O/ \; h7 ?
available at very little cost or risk. The gas is displacing crude
6 U8 ]9 B! ^3 V @! Z1 n5 Coil.
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9. Coal is being transformed into a clean burning liquid fuel. The CO2
. o5 z( k7 P( b' q0 ~: X4 gproduced as a byproduct is sold to oil companies for injection into
7 c3 G4 F0 Z4 C2 H( V2 Qoil wells. % l% v0 T, z. t( ?2 Q8 V8 ?
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' b( F6 p8 r7 G5 {; @10. Solar, wind and ocean energy is displacing oil as an energy 0 ?+ i( _+ E! c( I
source. Three new wind turbines are being erected every day in the US. $ U: B* ?; } _, J2 h0 z& I5 y
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Each of the above by itself will not make a large difference in the
- X3 R+ p# M8 x0 zprice of crude oil but the sum of all of them together is world
$ b4 ^: ?: p1 j! k2 D: C! V5 Fchanging. The important thing is that OPEC no longer has the ability h6 `; r5 A2 z, R4 T; {
to control oil prices.
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! v5 u8 c: Y" q. DWith the above scenario, I still believe that there are under 6 V. W1 o6 V" ]4 T: t9 W, |
performed OIL companies and probably they are yet to get the justified
4 d: c C9 W1 ~! {8 t' bvalue .....
) F6 a8 F+ a# h8 |9 d) TIAE- Ithaca , EPL Energy Partners Ltd, Opti etc ...
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1 l5 o1 m: l! C% cThe above articles are from WSJ .............PUBLISHED ON 9TH JAN 3 c' G1 j, C; W* {' X, S/ z
2009 ... FYI-Only |
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