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0 R3 i7 l2 h' QBelow is an Interesting article I found, which says that.....Do not * I/ e* o5 }6 _& z- W2 C0 J
expect much from Crude Oil producers and future is not with the
8 \4 B- {9 H, X- dcompanies producing Jet fuels but Biofuels. Also no wonder if some of 2 H4 N2 W T* O$ D
these oil producer will go bankrupt or out of the business even if - } S. a+ l0 e n6 m% B# s
crude prices improves. This implies also to good names such as Shell,
F" h9 D) G. ]9 {) }/ { i$ \EXXON, BG, BP, Cheveron ....xyz.. oils
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Recently OPEC reduced crude oil production twice over just a few
9 L; m% Y: {* J ~. G; Kmonths. There are three wars going on in Gaza, Iraq and Afghandistan.
" o' y+ J& H: w4 Y: N8 p6 M3 G6 VA year ago these things would have spiked the price of crude oil by at
4 Z# q: o1 u9 G' i4 F9 n/ pleast $50.00 per barrel. Today, oil price declined by a record amount. # z3 S: x3 U2 a
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There are several reasons the price of oil is decreasing in the face
6 V+ k. o) a. z2 b1 dof so much news. These reasons are:
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1. New oil has been found in Canada, Montana, North & South Dakota and
$ g$ ]5 _: \- d+ n" zin the ocean near Brazil. Each of these oil fields has more oil than 8 [2 c+ m: l; E3 s) v9 _0 S
Arabia. 8 k8 T5 s3 x6 \+ N7 P
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& r9 O& C; F2 ~! H# @0 [2 E2. New natural gas has been found in Pennsylvania and West Virginia.
, b. r3 m B+ ?This is the largest find in North America. " A9 X+ h9 X% c$ D7 Q5 N. Y
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, q- y9 ~5 V+ [3. New methods of injecting CO2 and surfactants into oil wells is
1 ~( p9 c# u/ q o8 Kbeing used to double their output. & S) d N% C' `+ i" P
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4. Production of bio-fuels is beginning to reach critical mass. Bio 3 ^7 v: B4 L9 g$ V# N8 F
fuel is being produced from many plants and algae. The production 8 S& a) Q/ h: I" \. r
potential per acre in some cases is astounding. Many countries are
0 J i) a o. {7 [racing to produce bio fuels. + C$ r- @' S, c$ l
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2 u5 ?3 \ _, h4 m- z! u* A5. Virtually every restaurant in the US and all food processing plants
+ }! {- p+ [4 a9 Mare now selling their used oil to bio-diesel producers. Every pork,
* |2 I: g8 a# q9 Pcattle, turkey and chicken processing plant will soon sell their fat " Q$ w1 G6 P6 @- k
to bio-diesel producers. One pork processing plant in Oklahoma is
5 |. ^& G0 O7 W A* xproducing 30,000 gallons of bio-diesel per day from pork fat. 2 f' O3 `! m8 Q) p
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6. There are 99 nuclear reactors in various stages of planning and
4 k/ Q* i6 o. u+ dconstruction around the world at this time. Several hundred more are , H, H) Y+ z: D5 Q
expected to be built in the future. Much of the energy they produce
$ R% \7 y k8 w J+ ywill replace oil.
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7. Every company in any form of transportaion business is replacing
) s9 T- H* A5 `5 ?older equipment such as trucks, airplanes, train engines, ships, etc. % n9 T1 x. R' E& d: c8 Q
with new more fuel efficient equipment. Airlines and railway companies
% t+ Z4 y. I4 g, h" H; g2 j4 R$ f' `are experiencing 20% to 25% better fuel econony with the new ; ]6 \! A) f9 l. P, A' u& t
equipment.
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( T, l5 X4 q! T; e. K N% C, wAirlines are flying airplanes with bio-fuel. They are finding the bio-
. `8 x: c( f8 w7 i( _5 Ffuel is cleaner and performs better than jet fuel.
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/ @9 X; r u. x# n* A# d8. Cities and counties throughout the US are selling the rights to ' Q* n; K8 F9 M9 a6 C q
capture methane gas from landfills. This is a huge source of gas
. ], E' @$ N zavailable at very little cost or risk. The gas is displacing crude
- N: G3 s j1 R& ]oil.
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2 b' h* g' a% }: M4 L4 E9. Coal is being transformed into a clean burning liquid fuel. The CO2 5 E, E" _/ r6 F& ^% N
produced as a byproduct is sold to oil companies for injection into / k' d+ ^7 c; v H
oil wells. 4 @. B1 w3 A2 d* c7 H) l
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5 c$ r+ Q( v, c& O! C. p10. Solar, wind and ocean energy is displacing oil as an energy 2 h) h3 z) K9 |; i+ `, N$ F: @8 Q
source. Three new wind turbines are being erected every day in the US.
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- s' j3 w* _ d8 A* vEach of the above by itself will not make a large difference in the 5 G* \8 q; T" X1 p
price of crude oil but the sum of all of them together is world $ y* L# p- w- A# P, C
changing. The important thing is that OPEC no longer has the ability
7 t% ^: z. B, t: }to control oil prices. ; Q/ D% c0 l, r0 o
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With the above scenario, I still believe that there are under 2 [6 ?0 [7 z( P, [. I4 D
performed OIL companies and probably they are yet to get the justified 0 o3 ^; \+ ]7 Q; G- i
value ..... ( a! C8 |: ]( x
IAE- Ithaca , EPL Energy Partners Ltd, Opti etc ...
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V) t# k+ ?% Z. ^The above articles are from WSJ .............PUBLISHED ON 9TH JAN 4 z6 H q1 k! d7 |+ \
2009 ... FYI-Only |
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