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7 B- a D! v2 a; }( D$ sBelow is an Interesting article I found, which says that.....Do not
% H6 v# \- L* b8 q! B1 n/ K/ t/ { }expect much from Crude Oil producers and future is not with the
0 W |% A+ ~; v, h4 x1 S9 |# Vcompanies producing Jet fuels but Biofuels. Also no wonder if some of 1 G' u; O# g# U: M6 k0 l; [
these oil producer will go bankrupt or out of the business even if * o2 J, _* c( Q5 z6 o0 Q' L |; r
crude prices improves. This implies also to good names such as Shell,
" v0 u% \2 X/ V" ~1 t- z/ u; k5 bEXXON, BG, BP, Cheveron ....xyz.. oils 6 Z9 {0 p+ J! E
% f! K/ s$ I! J: rRecently OPEC reduced crude oil production twice over just a few
) h% z5 C R3 W/ _5 T3 Bmonths. There are three wars going on in Gaza, Iraq and Afghandistan.
* m- ?; ?) {0 Y) jA year ago these things would have spiked the price of crude oil by at
/ {& p' N$ h% o9 i1 N4 b+ p7 \- Kleast $50.00 per barrel. Today, oil price declined by a record amount.
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There are several reasons the price of oil is decreasing in the face 4 Q, t/ O7 ]/ i
of so much news. These reasons are:
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/ o4 A/ K' F1 t( ~) O+ e1. New oil has been found in Canada, Montana, North & South Dakota and 6 P' x4 U& l$ k* v3 z
in the ocean near Brazil. Each of these oil fields has more oil than
- ~ C5 P5 p1 `! n, z0 h) }' O$ d9 sArabia. / O! l8 [' g3 X0 ?" J
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2. New natural gas has been found in Pennsylvania and West Virginia. 1 S/ Z% E6 j9 \$ p" W! t
This is the largest find in North America. . N1 {! p: d/ s S* Y; v! i5 {; X
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3 }, N a( Q3 Q" J" W+ {2 B3. New methods of injecting CO2 and surfactants into oil wells is + E9 i5 `4 B9 [
being used to double their output. 7 Q4 a$ T' J8 t/ D! u8 @
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+ m0 \2 M5 i6 @/ W0 E6 w4. Production of bio-fuels is beginning to reach critical mass. Bio 5 p) R! _9 \. m& N
fuel is being produced from many plants and algae. The production 8 Z: Q" L! a2 H/ T$ h( v
potential per acre in some cases is astounding. Many countries are
5 |4 g2 i4 `8 A8 ]# \8 Q: dracing to produce bio fuels. * i& C+ ?8 M( _' f( j) v9 B
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" `+ o/ @9 ?7 C+ o4 \/ w# ]5. Virtually every restaurant in the US and all food processing plants 4 a' c: S- Z; l
are now selling their used oil to bio-diesel producers. Every pork,
- J0 `# U# [5 V3 D+ hcattle, turkey and chicken processing plant will soon sell their fat
( p# j3 |$ \) C' m% L6 J1 F7 {% L6 fto bio-diesel producers. One pork processing plant in Oklahoma is
4 V, x% T: ] I# N) T) q" _producing 30,000 gallons of bio-diesel per day from pork fat. " b: E; X. q8 W) D& A; u
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# r0 W4 H I5 c+ x6. There are 99 nuclear reactors in various stages of planning and " O$ `0 D/ Z! F5 n
construction around the world at this time. Several hundred more are # X9 O: I, u# c( Z8 [. W
expected to be built in the future. Much of the energy they produce
: K0 r) h( _" x' e9 Bwill replace oil. $ g* G3 f: D3 G5 V7 R$ K, g
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; u) B( b' k9 k* s7. Every company in any form of transportaion business is replacing a6 c. Y5 `" W) {" b+ y
older equipment such as trucks, airplanes, train engines, ships, etc.
4 ]; U* `$ L C- U! u" Z: Hwith new more fuel efficient equipment. Airlines and railway companies
# o" c5 _' f% X; S1 mare experiencing 20% to 25% better fuel econony with the new
2 D3 G8 p. H# q5 E# i1 e' D, }equipment.
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( @, |8 P2 M0 j' }1 S1 i$ X7 ~. W0 S7 JAirlines are flying airplanes with bio-fuel. They are finding the bio-
' c* \- n- B* ]% r: yfuel is cleaner and performs better than jet fuel.
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8. Cities and counties throughout the US are selling the rights to 9 S+ I) Y: N( m# Y& k! ~
capture methane gas from landfills. This is a huge source of gas
8 w T0 g, P" Y" I/ I$ qavailable at very little cost or risk. The gas is displacing crude
3 |* T+ Z& q& T: r" k9 ]+ ?oil. 0 f3 O# w" _; N1 c/ v5 C& k
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9. Coal is being transformed into a clean burning liquid fuel. The CO2
6 q6 e+ N% d! P/ qproduced as a byproduct is sold to oil companies for injection into " @& {0 N& c: f6 o+ f+ @& M
oil wells. , V; ~ { ^- Z! a
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8 L* U" K4 c1 |1 a6 h$ h! x. s* ]10. Solar, wind and ocean energy is displacing oil as an energy
" Y- ?' q Z4 h; V7 s& zsource. 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 % w# b( b/ i/ ~. z0 f
price of crude oil but the sum of all of them together is world
$ @8 F2 z$ ]. ]5 `) a" pchanging. The important thing is that OPEC no longer has the ability
% h1 N0 V$ B7 J# zto control oil prices. 7 `1 M) n% ]9 ?- ~- m9 O
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( S( @' D7 [8 |) ]- M( aWith the above scenario, I still believe that there are under
5 E: ]$ O: z5 [$ D" _7 Jperformed OIL companies and probably they are yet to get the justified 6 [" V) N& O7 Y4 Q- R' v
value .....
5 q! q8 p: }8 K4 [4 HIAE- Ithaca , EPL Energy Partners Ltd, Opti etc ... ( L, a% C- f/ S% K1 f# I" ^% n) _
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. m/ \3 z4 ~$ G% y% L* s3 bThe above articles are from WSJ .............PUBLISHED ON 9TH JAN
; J9 l# b I5 C/ T# g: J6 ]2009 ... FYI-Only |
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