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0 @* }; } D( X/ w% `. nBelow is an Interesting article I found, which says that.....Do not
6 q! A H' _% e- w* J; Oexpect much from Crude Oil producers and future is not with the
: _! U3 V, R& R. g7 v# A4 Zcompanies producing Jet fuels but Biofuels. Also no wonder if some of 8 c; x$ a8 }" }# S8 V7 I o
these oil producer will go bankrupt or out of the business even if # d2 x# u. i, `) }+ w. ~
crude prices improves. This implies also to good names such as Shell,
% {- P9 ^' m( xEXXON, BG, BP, Cheveron ....xyz.. oils
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3 _2 ~. g. G D8 b- Z8 dRecently OPEC reduced crude oil production twice over just a few
0 O% H$ w( j! qmonths. There are three wars going on in Gaza, Iraq and Afghandistan.
) H6 w% I' d) mA year ago these things would have spiked the price of crude oil by at
; C ]7 T4 U* X' tleast $50.00 per barrel. Today, oil price declined by a record amount.
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There are several reasons the price of oil is decreasing in the face
7 F( V/ _# L3 y; Jof so much news. These reasons are:
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1. New oil has been found in Canada, Montana, North & South Dakota and . d8 `& r% {# R+ R" S: D4 H
in the ocean near Brazil. Each of these oil fields has more oil than
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2. New natural gas has been found in Pennsylvania and West Virginia.
* c* h2 c% \- z. @7 L5 PThis is the largest find in North America.
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* X) L9 ^4 V$ G' H6 o% e3. New methods of injecting CO2 and surfactants into oil wells is ; ]3 y0 n ? z
being used to double their output. # `9 E0 q D2 F6 p) v% \8 Z: N
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4. Production of bio-fuels is beginning to reach critical mass. Bio / @# e$ J+ }7 }& N. L, Q1 r
fuel is being produced from many plants and algae. The production
% L4 s" A% ?0 Y( t1 epotential per acre in some cases is astounding. Many countries are 7 ^8 T- S. i$ z% }) N
racing to produce bio fuels.
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, _/ d+ r# h6 U0 u2 t# e, D5. Virtually every restaurant in the US and all food processing plants 2 e8 P: j+ f D+ a+ Z2 z; T8 b
are now selling their used oil to bio-diesel producers. Every pork, 0 ` ]: Q, m4 Z' Z z: C! n
cattle, turkey and chicken processing plant will soon sell their fat
1 P# C8 I8 ~5 v1 Q4 n8 i' X+ {) pto bio-diesel producers. One pork processing plant in Oklahoma is + s2 U( c+ @# C; R
producing 30,000 gallons of bio-diesel per day from pork fat.
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6. There are 99 nuclear reactors in various stages of planning and 6 V; _, x f q! y* O
construction around the world at this time. Several hundred more are 8 t& Y& E' Q) {- L
expected to be built in the future. Much of the energy they produce
* T; X: W T2 g: V) m& fwill replace oil.
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7. Every company in any form of transportaion business is replacing & |, ~! l* z2 f' L. z% @. |
older equipment such as trucks, airplanes, train engines, ships, etc.
+ P' b; b; v- }5 n& Zwith new more fuel efficient equipment. Airlines and railway companies
' q) r- M2 j# Dare experiencing 20% to 25% better fuel econony with the new % g# v( t! W/ L% F, {) K
equipment.
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Airlines are flying airplanes with bio-fuel. They are finding the bio- , L ?# Z6 h- j- v( E
fuel is cleaner and performs better than jet fuel.
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8. Cities and counties throughout the US are selling the rights to
! T8 K* n, w9 i/ d* a( F4 qcapture methane gas from landfills. This is a huge source of gas " j, ?; \( D& t7 g0 [
available at very little cost or risk. The gas is displacing crude
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+ D# @) \1 B- D$ v' O5 ~9. Coal is being transformed into a clean burning liquid fuel. The CO2
6 A6 e$ x0 n7 s& v- Eproduced as a byproduct is sold to oil companies for injection into
; W" Z, z# ], U: c) a1 D/ G) ]oil wells.
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10. Solar, wind and ocean energy is displacing oil as an energy ; s) \/ h+ h- I+ i, y. c
source. Three new wind turbines are being erected every day in the US. 6 l6 n- R5 ?: q5 m w
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. c5 ]" }; k9 V; U! x1 D8 X# AEach of the above by itself will not make a large difference in the # w3 e6 x) W0 K% Y q
price of crude oil but the sum of all of them together is world
$ X' |; y* n" |8 R: hchanging. The important thing is that OPEC no longer has the ability % k6 A" _0 ~6 |+ P: `. F/ e
to control oil prices.
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) Q* h) c0 B- SWith the above scenario, I still believe that there are under }" D5 @& b# R3 r6 O1 s+ G
performed OIL companies and probably they are yet to get the justified $ F6 b# p. |( E- N4 G' k7 s% i
value ..... ! J5 ~/ ]+ A; S
IAE- Ithaca , EPL Energy Partners Ltd, Opti etc ...
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The above articles are from WSJ .............PUBLISHED ON 9TH JAN # q8 p" o% ]" [" D9 O9 A: N& T% {) [
2009 ... FYI-Only |
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