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Below is an Interesting article I found, which says that.....Do not * h7 x+ g1 d' y* Z ~7 I& \
expect much from Crude Oil producers and future is not with the
# Q" ^0 t: q, _& ecompanies producing Jet fuels but Biofuels. Also no wonder if some of
: `3 T" S7 G5 a( I4 R" n0 N; Sthese oil producer will go bankrupt or out of the business even if
$ \+ M0 `7 v) ~% Qcrude prices improves. This implies also to good names such as Shell, : v) ^ B( M6 C: p( i& L
EXXON, BG, BP, Cheveron ....xyz.. oils
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1 m X5 q j, aRecently OPEC reduced crude oil production twice over just a few 8 ?! s7 m' C" O- }: P2 ]/ T/ x
months. There are three wars going on in Gaza, Iraq and Afghandistan.
. ^8 Z, [. t4 u7 A, uA year ago these things would have spiked the price of crude oil by at
, i% b/ G5 O+ A& R& ?' |; @5 Q3 [least $50.00 per barrel. Today, oil price declined by a record amount. # {/ t1 V/ b: h' f
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9 F% J2 z" M8 h5 X+ h# mThere are several reasons the price of oil is decreasing in the face 4 \7 U% X! y* s- [0 E3 M8 c8 h% R# _2 V
of so much news. These reasons are: - M# d# b9 l' Z) \3 b4 V
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1. New oil has been found in Canada, Montana, North & South Dakota and
0 n% S2 q" O" S: \in the ocean near Brazil. Each of these oil fields has more oil than 3 ~1 Y' e% T+ X
Arabia.
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2. New natural gas has been found in Pennsylvania and West Virginia.
+ l* D1 K+ }$ h/ l8 v8 qThis is the largest find in North America.
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( R4 z+ c+ a6 T' f2 e; Y% g& b* Q3. New methods of injecting CO2 and surfactants into oil wells is
9 J: T" b6 K* d7 X0 @2 A2 J3 obeing used to double their output. / K% _+ S( Q9 e3 |
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8 j* x5 ~2 h. e& z ]4. Production of bio-fuels is beginning to reach critical mass. Bio 3 ^8 Q. ]3 J; l& K4 |
fuel is being produced from many plants and algae. The production
! {& [5 F9 ?* r, \1 @: Cpotential per acre in some cases is astounding. Many countries are
% n6 X* h, U- |7 M& R- fracing to produce bio fuels.
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5. Virtually every restaurant in the US and all food processing plants % a" g. n1 Z/ J" Q# D% `2 i5 \* v
are now selling their used oil to bio-diesel producers. Every pork, 8 |* A+ B0 b* y/ F/ |
cattle, turkey and chicken processing plant will soon sell their fat # `5 v. g. n- k
to bio-diesel producers. One pork processing plant in Oklahoma is + k* D6 r& L: {0 K- r
producing 30,000 gallons of bio-diesel per day from pork fat. ! a0 f7 b) X% E
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/ y, e+ E" f! G4 N1 w6. There are 99 nuclear reactors in various stages of planning and 7 R2 F/ }# j. G0 r \6 R1 L
construction around the world at this time. Several hundred more are
6 z! Z$ r0 |' L! Dexpected to be built in the future. Much of the energy they produce
o! R. q( c# i$ ~, C8 a! Z3 ]* L# _& Fwill replace oil.
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7. Every company in any form of transportaion business is replacing
; N3 o# d Z: golder equipment such as trucks, airplanes, train engines, ships, etc.
3 s6 b1 W8 v, B/ Y* m7 a' p$ Z# pwith new more fuel efficient equipment. Airlines and railway companies
5 _& E. ~ t, w- M5 y8 sare experiencing 20% to 25% better fuel econony with the new ( U% u- T5 g4 d9 c) T6 X
equipment. 2 y/ L5 j# f/ M( E
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Airlines are flying airplanes with bio-fuel. They are finding the bio- / @3 w2 X3 D. ]2 n
fuel is cleaner and performs better than jet fuel. , `/ f, X5 r. W5 P1 B
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e$ U& Q0 c& y6 G0 H: [; ~( c8. Cities and counties throughout the US are selling the rights to ; G" Z4 \7 B6 H
capture methane gas from landfills. This is a huge source of gas + W0 _0 V0 X- i
available at very little cost or risk. The gas is displacing crude " y. |1 ^% l* t7 t, j5 T
oil.
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9. Coal is being transformed into a clean burning liquid fuel. The CO2 4 I4 z* c$ d2 `( O/ w
produced as a byproduct is sold to oil companies for injection into
" I1 C4 |' P6 A3 U' joil wells. ) K. f. }* q% `! z8 C
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' E# O v, D z, v# p10. Solar, wind and ocean energy is displacing oil as an energy
8 q' w/ u$ O+ e6 b& g* y+ N' X* qsource. Three new wind turbines are being erected every day in the US.
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- P, Q" d! Z! U P" s% G% OEach of the above by itself will not make a large difference in the ) v% x% i+ _4 c1 P( F
price of crude oil but the sum of all of them together is world 2 k1 s& U3 R* n1 D* X5 Z
changing. The important thing is that OPEC no longer has the ability
: e# e; D( z- X1 c; G$ \+ ato control oil prices. ' H7 `; W8 P$ o% B4 [
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With the above scenario, I still believe that there are under
- I- K& e8 \, l1 F4 J& l7 Y- N3 Kperformed OIL companies and probably they are yet to get the justified
3 W$ p- b' S6 R9 {$ X, _ avalue .....
) c& _' @: t9 X. }4 H0 `6 z$ dIAE- Ithaca , EPL Energy Partners Ltd, Opti etc ...
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; T! [& M* X, } Q5 A: {/ IThe above articles are from WSJ .............PUBLISHED ON 9TH JAN % } I5 F3 C, Q
2009 ... FYI-Only |
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