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Below is an Interesting article I found, which says that.....Do not
& {6 J) T1 `9 r/ U# b$ iexpect much from Crude Oil producers and future is not with the ) W8 Y# {, n* I6 n4 ]- H! T- Y
companies producing Jet fuels but Biofuels. Also no wonder if some of ( `; H; P+ {: l6 W9 [
these oil producer will go bankrupt or out of the business even if 7 O2 x$ D0 Z7 r* x' {: k `+ c
crude prices improves. This implies also to good names such as Shell,
. o2 ], J6 b7 r* d- T, DEXXON, BG, BP, Cheveron ....xyz.. oils
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Recently OPEC reduced crude oil production twice over just a few 2 k% W3 a/ Q- L; Z7 I
months. There are three wars going on in Gaza, Iraq and Afghandistan.
# K+ ^% ?( j4 Z9 y, bA year ago these things would have spiked the price of crude oil by at 0 c) ] r) h. J$ t: J
least $50.00 per barrel. Today, oil price declined by a record amount.
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There are several reasons the price of oil is decreasing in the face ' u2 b- a4 u% I$ X: `, ]
of so much news. These reasons are: 9 `/ t; B; Z# g6 V" \9 c0 U' \ V5 L/ S
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1. New oil has been found in Canada, Montana, North & South Dakota and . h2 f1 M, }3 A1 r5 N/ }' T
in the ocean near Brazil. Each of these oil fields has more oil than ! s1 p- g* J$ B: O# ~
Arabia. 3 Y8 }% p) h: M
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e6 [2 D4 `3 Q- t4 h- Z! Z2 \" }2. New natural gas has been found in Pennsylvania and West Virginia.
9 ]: y; b0 k; E5 p8 S& E S- Y0 L7 _This is the largest find in North America.
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( y, d: l1 W9 Z1 r7 ^# r6 K3. New methods of injecting CO2 and surfactants into oil wells is
+ k% t# S" R' A. z: H" bbeing used to double their output. ; e! x- v! W, ^$ V) p& C
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4. Production of bio-fuels is beginning to reach critical mass. Bio j% Y5 C7 w% I- K
fuel is being produced from many plants and algae. The production 1 _$ }5 z' y$ m5 c/ ~4 {. F# U
potential per acre in some cases is astounding. Many countries are ) W" R$ v( O# }6 a) l
racing to produce bio fuels. 1 ` x1 V5 {- _, }6 O3 I$ _
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5. Virtually every restaurant in the US and all food processing plants + |% }8 R2 v% W0 j
are now selling their used oil to bio-diesel producers. Every pork, ' o A* Q7 ^* T- n2 ^
cattle, turkey and chicken processing plant will soon sell their fat : Z- w: @2 @0 v/ g0 N% H9 ~
to bio-diesel producers. One pork processing plant in Oklahoma is & ]2 q9 I% s# Q
producing 30,000 gallons of bio-diesel per day from pork fat. 6 X# |2 a0 O- h- T5 }
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6. There are 99 nuclear reactors in various stages of planning and 7 D) R6 ?. G. E) k7 l0 T+ e0 Z8 ]0 I# v
construction around the world at this time. Several hundred more are
# j7 ^. l: @0 q4 ]0 bexpected to be built in the future. Much of the energy they produce 1 h. s; B }- q5 f7 j7 x6 [
will replace oil.
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3 }* T% E: S, ]; \( B7. Every company in any form of transportaion business is replacing 9 w+ H4 u# T$ o' m$ Y' k4 M
older equipment such as trucks, airplanes, train engines, ships, etc. 9 E1 E/ A. } ?, H- ?* f. w
with new more fuel efficient equipment. Airlines and railway companies
6 `" a3 m8 x8 j5 n0 i( {1 tare experiencing 20% to 25% better fuel econony with the new 6 _+ S+ f1 w% @
equipment. 9 N% _& S' N, @7 q$ `
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Airlines are flying airplanes with bio-fuel. They are finding the bio- * e8 [0 R4 Q( @
fuel is cleaner and performs better than jet fuel. $ K* j6 n# l# v/ p% r8 x9 `# t
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8. Cities and counties throughout the US are selling the rights to 3 ^# @1 f" c' C2 A, e' S
capture methane gas from landfills. This is a huge source of gas 8 I! p0 m1 U( Y# ^( d- _% B. k
available at very little cost or risk. The gas is displacing crude
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$ Q% @% C5 ]* n7 m- o& o: J9. Coal is being transformed into a clean burning liquid fuel. The CO2 * C: b5 B" V R2 E6 C' }0 f- j
produced as a byproduct is sold to oil companies for injection into 4 J; P2 E9 d9 y# v: L
oil wells. 9 F4 x' \% q/ _
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, K- X8 |5 m9 n( d" s10. Solar, wind and ocean energy is displacing oil as an energy % v- ?4 A r3 P; f
source. 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 7 b8 f' A6 [. [2 p& G3 D* ~
price of crude oil but the sum of all of them together is world
, N0 g5 |/ ^ a8 `' y, _changing. The important thing is that OPEC no longer has the ability
& A d/ C6 S& i- d- _; g4 i7 h- ]- gto control oil prices.
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; X* l( s5 t2 E: ^With the above scenario, I still believe that there are under ) ^) a ~2 L' [2 t
performed OIL companies and probably they are yet to get the justified ! f" c: h5 ?' p
value .....
# N9 O- u& h; [IAE- Ithaca , EPL Energy Partners Ltd, Opti etc ... . q+ V+ U& D8 j9 F
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The above articles are from WSJ .............PUBLISHED ON 9TH JAN
! N) {" `' ]* x P3 O$ K2009 ... FYI-Only |
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发表于 2009-1-13 18:58
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