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5 x D( H4 f k$ _/ _- l/ RBelow is an Interesting article I found, which says that.....Do not
! `: v# ^' Q1 H6 q* M! B: M- i" {expect much from Crude Oil producers and future is not with the % @8 x% T) V/ X Q' m# L9 W
companies producing Jet fuels but Biofuels. Also no wonder if some of ' y( W. N' W4 w1 }0 {4 Q( e
these oil producer will go bankrupt or out of the business even if
( b" t* z" c, U6 a5 N3 z- R$ Jcrude prices improves. This implies also to good names such as Shell,
8 T( s* Z, P, \1 n7 t5 F5 OEXXON, BG, BP, Cheveron ....xyz.. oils
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) p3 Y# K; B! E& h) I; R5 qRecently OPEC reduced crude oil production twice over just a few
. U+ j8 x9 z, ^% Z6 ]6 Z! Vmonths. There are three wars going on in Gaza, Iraq and Afghandistan. }! G4 }9 ~$ F; B2 q/ I7 t j
A year ago these things would have spiked the price of crude oil by at
, l7 l9 M0 G4 ~5 l) uleast $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 w7 h" N- y% `. D: Pof so much news. These reasons are:
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1. New oil has been found in Canada, Montana, North & South Dakota and
$ O6 y* ]. z4 Bin the ocean near Brazil. Each of these oil fields has more oil than
* W6 u* _: r: W# q( nArabia.
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2. New natural gas has been found in Pennsylvania and West Virginia. " r. K# F- f, \8 Y3 F- t P, s
This is the largest find in North America.
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3. New methods of injecting CO2 and surfactants into oil wells is
* y9 W% M/ x; M& P% cbeing used to double their output. * W7 A9 ?- Z& A! o
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4. Production of bio-fuels is beginning to reach critical mass. Bio 9 I( H0 H$ V* Z6 @0 ~
fuel is being produced from many plants and algae. The production ( O. F# K0 x$ w+ P5 ? w+ f
potential per acre in some cases is astounding. Many countries are 8 b: z# L2 D: r3 C' T1 i8 z. P
racing to produce bio fuels. $ j o2 h9 J T) a: @) B) |
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5. Virtually every restaurant in the US and all food processing plants
& |# K6 O. A7 `- K6 M& I9 kare now selling their used oil to bio-diesel producers. Every pork,
8 ~9 a- @1 M+ _- B, \8 x5 j x, Ecattle, turkey and chicken processing plant will soon sell their fat
1 E% ?1 E6 r" Jto bio-diesel producers. One pork processing plant in Oklahoma is
' n- o; q1 ]1 p' b& r2 |& Y8 w1 Rproducing 30,000 gallons of bio-diesel per day from pork fat.
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3 U& I2 f, c" |4 `6. There are 99 nuclear reactors in various stages of planning and
$ r( _" v, s# [6 Jconstruction around the world at this time. Several hundred more are $ u$ c1 [( i& f
expected to be built in the future. Much of the energy they produce ( R! b# v$ ~: D$ J5 q
will replace oil. - d# A d7 U& h S: _9 u/ R6 d
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7. Every company in any form of transportaion business is replacing / p4 \* j( g3 x5 t- B
older equipment such as trucks, airplanes, train engines, ships, etc. " H) F! X8 L$ F5 s/ J) O
with new more fuel efficient equipment. Airlines and railway companies 9 y* o W% ` E; n% ~2 W
are experiencing 20% to 25% better fuel econony with the new ; W# Z* u; M+ p# P4 O& v5 U
equipment. : ?. K7 c: a/ K: u# ^
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Airlines are flying airplanes with bio-fuel. They are finding the bio-
- ]5 M2 h& Z) ^5 b# `( q! ofuel is cleaner and performs better than jet fuel.
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- y! q8 t- z5 | @/ Z1 ?8. Cities and counties throughout the US are selling the rights to
0 l! S5 o% L7 p( f' H$ q( Mcapture methane gas from landfills. This is a huge source of gas 3 t( {2 q, J& l6 ^9 e! Y* ]
available at very little cost or risk. The gas is displacing crude
. a! X- b8 C0 Woil.
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9. Coal is being transformed into a clean burning liquid fuel. The CO2 8 ]- z4 d, q, k0 z6 W/ j! j
produced as a byproduct is sold to oil companies for injection into
' S1 X/ y# s7 v; Koil wells.
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& h, n: c1 d2 x10. Solar, wind and ocean energy is displacing oil as an energy
( V7 Q* k- D3 L2 g4 l( t5 \0 |. m% ysource. 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 ; S2 i1 X3 n+ Y, w; q: S# S
price of crude oil but the sum of all of them together is world
. |* p2 E) \+ E5 `; Schanging. The important thing is that OPEC no longer has the ability
" K# @, @( U; k U# Uto control oil prices.
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With the above scenario, I still believe that there are under
3 |' W+ }. @- G: G! j$ }/ b, c k* Rperformed OIL companies and probably they are yet to get the justified # [1 x$ g* p9 a! t, f: [
value ..... 1 [$ ^2 `" ~9 h2 U! r% A) L( X
IAE- Ithaca , EPL Energy Partners Ltd, Opti etc ...
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The above articles are from WSJ .............PUBLISHED ON 9TH JAN
( \. i2 d2 w5 `# b9 \' H J2009 ... FYI-Only |
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