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Below is an Interesting article I found, which says that.....Do not
$ ^" [) h0 b6 |, B) hexpect much from Crude Oil producers and future is not with the 0 d' I$ [' z, z& c! j. B
companies producing Jet fuels but Biofuels. Also no wonder if some of
0 H) a( }' c. N3 @2 Ythese oil producer will go bankrupt or out of the business even if 0 ^' [, x6 o+ T. [+ B5 R
crude prices improves. This implies also to good names such as Shell,
4 r) S* g# ^ j) [. N+ ?EXXON, BG, BP, Cheveron ....xyz.. oils ~" O: Q( @' p$ E- L
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Recently OPEC reduced crude oil production twice over just a few
+ W# ^0 K$ Z! mmonths. There are three wars going on in Gaza, Iraq and Afghandistan.
; l; m" E1 T h/ X5 wA year ago these things would have spiked the price of crude oil by at
1 Z) X/ J- T5 v5 d* p% Lleast $50.00 per barrel. Today, oil price declined by a record amount. @8 [7 k/ n' n3 c( f# _3 Z0 Q; `
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There are several reasons the price of oil is decreasing in the face 6 [: x* f* y* ?# U
of so much news. These reasons are:
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1. New oil has been found in Canada, Montana, North & South Dakota and , S0 t d$ t1 K# D/ z' z* i4 U, H
in the ocean near Brazil. Each of these oil fields has more oil than
7 ?- s/ V2 ]/ ]Arabia. " ]0 K3 ?6 L" G3 _9 c+ _$ x2 Z5 V S
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( r# Q( j2 \( X3 S R e2. New natural gas has been found in Pennsylvania and West Virginia. # j0 h, P$ ?( h v
This is the largest find in North America.
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+ r* j/ u! {7 J. v3. New methods of injecting CO2 and surfactants into oil wells is
) x1 @# Q, s! [$ _being used to double their output.
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4. Production of bio-fuels is beginning to reach critical mass. Bio
: r& x( D, [4 ~9 R) b4 u: G0 A+ ofuel is being produced from many plants and algae. The production
0 x3 J4 e, G1 R/ ~6 npotential per acre in some cases is astounding. Many countries are 8 s. d2 ~0 @2 l5 U7 Y
racing to produce bio fuels. 6 U3 h- [3 C1 H* ~
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4 M/ ?7 G1 F& ~. @2 w5. Virtually every restaurant in the US and all food processing plants
+ |( F: `, u+ s, W6 y( b9 A& G: N" uare now selling their used oil to bio-diesel producers. Every pork,
+ |: }0 l; l4 U9 l6 Wcattle, turkey and chicken processing plant will soon sell their fat 1 D3 ~: s5 t/ g% t6 }/ ?: m
to bio-diesel producers. One pork processing plant in Oklahoma is
( d1 A6 X! c8 @1 K. d2 {4 F6 ?producing 30,000 gallons of bio-diesel per day from pork fat. ' n4 M5 E4 z3 V# `: S( [
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7 ]% @3 w0 w5 T8 S# Z% g6 m6. There are 99 nuclear reactors in various stages of planning and
4 G! ?$ g: L! U+ {/ Xconstruction around the world at this time. Several hundred more are % m+ w3 f. @9 p% d ~/ n
expected to be built in the future. Much of the energy they produce
' D' R3 f. ?0 u% K3 Iwill replace oil. % T+ a9 v+ Z/ j' ~0 e
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* t; x& s' c( h7. Every company in any form of transportaion business is replacing ) Q+ B# ?* x1 G- g2 G9 Q
older equipment such as trucks, airplanes, train engines, ships, etc. : v3 P3 f+ R7 o K5 ?- A8 x! Y
with new more fuel efficient equipment. Airlines and railway companies
6 ~4 D2 `% ] J4 g$ f8 t! C. tare experiencing 20% to 25% better fuel econony with the new & D: c3 A5 e% b0 Y* B" w- q3 M, U
equipment.
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Airlines are flying airplanes with bio-fuel. They are finding the bio-
8 Z. ]. O* u- ~' S9 T0 xfuel is cleaner and performs better than jet fuel. , t- S# Z: b: E6 `; ~ p: W% l
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8. Cities and counties throughout the US are selling the rights to
1 I* ?; I8 T- ^capture methane gas from landfills. This is a huge source of gas : h( p3 d+ e+ h& `
available at very little cost or risk. The gas is displacing crude 9 h ]' I4 X5 V+ h b3 }7 b
oil.
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9. Coal is being transformed into a clean burning liquid fuel. The CO2 ) o7 g8 h( b" t3 {
produced as a byproduct is sold to oil companies for injection into
; y+ p4 A) k/ i) E8 E0 eoil wells. # x* a! R; Z0 T- H
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o& |" h6 F& U, l; w- a6 e1 E10. Solar, wind and ocean energy is displacing oil as an energy - k+ G$ z4 {% ^" H5 k: r$ H
source. Three new wind turbines are being erected every day in the US.
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9 Z; \2 R8 b. ZEach of the above by itself will not make a large difference in the
+ ^- r% t9 ~, f8 Mprice of crude oil but the sum of all of them together is world # s# w0 \$ @: z p% ^
changing. The important thing is that OPEC no longer has the ability
: y c x- u X4 x8 H, `to control oil prices.
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With the above scenario, I still believe that there are under
L8 m$ p3 F( Bperformed OIL companies and probably they are yet to get the justified
& h; r7 G; g+ D0 m! F! _8 lvalue .....
" l! C$ E* m# Y# QIAE- Ithaca , EPL Energy Partners Ltd, Opti etc ...
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^7 E( M% T% S) e! X! YThe above articles are from WSJ .............PUBLISHED ON 9TH JAN
) D" c2 N3 Q! m! c2009 ... FYI-Only |
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