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: Y0 n( c: M* H: G- G' [% x! zBelow is an Interesting article I found, which says that.....Do not 7 u5 T d1 _. b' j" T+ D" ?
expect much from Crude Oil producers and future is not with the ) V0 l8 `" i! V' n; u
companies producing Jet fuels but Biofuels. Also no wonder if some of
3 B. m5 J. q" H$ othese oil producer will go bankrupt or out of the business even if 1 l0 S( N: }+ p& v" t% s
crude prices improves. This implies also to good names such as Shell,
# K6 O8 K: z" g, d; }' [* e" UEXXON, BG, BP, Cheveron ....xyz.. oils
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8 L3 D& K- u9 I2 BRecently OPEC reduced crude oil production twice over just a few
" U x4 |8 k7 R" j8 Vmonths. There are three wars going on in Gaza, Iraq and Afghandistan. 5 M! C: Y6 a E5 z
A year ago these things would have spiked the price of crude oil by at
* [. o4 k9 e! x' `" [least $50.00 per barrel. Today, oil price declined by a record amount.
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# C; n2 I' e; gThere are several reasons the price of oil is decreasing in the face
* z5 u, E, |7 d( mof so much news. These reasons are:
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1. New oil has been found in Canada, Montana, North & South Dakota and 7 t$ s! h$ ^! o I; b+ d
in the ocean near Brazil. Each of these oil fields has more oil than 2 J7 {, I* o* J3 D$ p
Arabia.
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2. New natural gas has been found in Pennsylvania and West Virginia.
/ Z9 u7 Y' w5 ^2 DThis is the largest find in North America.
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3. New methods of injecting CO2 and surfactants into oil wells is
: c3 l ~# Q, s, Ibeing used to double their output. 2 g! R; }& |1 m; G1 p1 F) ^2 J
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4. Production of bio-fuels is beginning to reach critical mass. Bio
1 z3 C8 C- P7 c h9 A0 I9 U- \fuel is being produced from many plants and algae. The production
5 T. W3 A" \9 @0 V) _potential per acre in some cases is astounding. Many countries are x+ @; Z. |. t7 d
racing to produce bio fuels.
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5. Virtually every restaurant in the US and all food processing plants , ~! w/ A2 A# L4 p, J& }
are now selling their used oil to bio-diesel producers. Every pork, / p- w5 Q. p X. Z! @) a& U- ^
cattle, turkey and chicken processing plant will soon sell their fat
. |0 z% Q3 d, w7 J3 p0 Dto bio-diesel producers. One pork processing plant in Oklahoma is 1 [- S! m& S, [7 w7 g/ R
producing 30,000 gallons of bio-diesel per day from pork fat. / m- C: L% ^' K: U! w. }# t7 R! l
3 z- @5 O- B% g {
6 L ^7 K* E% O, O' ~7 G' }) {6. There are 99 nuclear reactors in various stages of planning and
$ Q& r8 S% Y0 G- v4 k. M! {construction around the world at this time. Several hundred more are 7 n4 t) L6 j! i" C" q5 B" ~$ g, F
expected to be built in the future. Much of the energy they produce
: l& w1 f ~+ ~will replace oil.
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8 l6 `2 a7 U- H$ x6 B$ @7. Every company in any form of transportaion business is replacing 1 x& X* ~8 D' t- V% B
older equipment such as trucks, airplanes, train engines, ships, etc.
, [5 i- A2 [ Q7 N# |9 Nwith new more fuel efficient equipment. Airlines and railway companies ; `5 o" h! Z! U4 s) }; E8 W
are experiencing 20% to 25% better fuel econony with the new
% x' z$ a8 d J$ Requipment. . U" o( V0 }: N6 n
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Airlines are flying airplanes with bio-fuel. They are finding the bio- 9 k7 l& a' B6 n, g
fuel is cleaner and performs better than jet fuel. # |( ?8 g# P' I9 a! j y) b
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4 \6 K3 k x& h. V8. Cities and counties throughout the US are selling the rights to
9 g) ?0 _" S( m& n6 K8 L3 ]' ~, J+ ucapture methane gas from landfills. This is a huge source of gas , h2 w' l1 M$ M! f* R H
available at very little cost or risk. The gas is displacing crude - ]' R& S# b9 f
oil. ) O2 L" m1 ^8 f; H( d4 k
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\1 }% `6 L# j& i! U# y1 c2 t9. Coal is being transformed into a clean burning liquid fuel. The CO2 7 G1 G" A5 I. b% V" b
produced as a byproduct is sold to oil companies for injection into
, Z8 b3 H8 `4 `% Woil wells. / V) H" j+ U# g9 [6 V! c0 ]
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R( W* ]/ t' A; t3 D( f8 m10. Solar, wind and ocean energy is displacing oil as an energy
: I, }! \" }3 q9 hsource. Three new wind turbines are being erected every day in the US. / T2 c$ }# l! }0 ~0 H, A; Y% [
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Each of the above by itself will not make a large difference in the
9 l/ I c. b' y6 ~4 n7 c5 n- V* zprice of crude oil but the sum of all of them together is world
! V8 w8 T0 A! D5 {" h( }9 qchanging. The important thing is that OPEC no longer has the ability 2 j& [; R$ E; p0 ^ W- }
to control oil prices.
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G2 ], L- Q; c z5 k' [! Z3 ?$ WWith the above scenario, I still believe that there are under
3 d1 B s% C; Gperformed OIL companies and probably they are yet to get the justified
- H, { p0 t+ C& t% ~$ Avalue .....
0 g" R4 k0 v1 [# ]2 U( s' gIAE- Ithaca , EPL Energy Partners Ltd, Opti etc ... , K2 ^: {0 _6 r
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The above articles are from WSJ .............PUBLISHED ON 9TH JAN % \2 T- u" N9 l8 q$ B# ]8 [) g
2009 ... FYI-Only |
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发表于 2009-1-13 18:58
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