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Below is an Interesting article I found, which says that.....Do not $ R$ Y8 y2 r9 C t$ P' s0 v8 H. a0 O! L
expect much from Crude Oil producers and future is not with the ' z6 x4 V; Q3 @4 H" Z2 t
companies producing Jet fuels but Biofuels. Also no wonder if some of $ ?8 ^: E4 ~/ l' q3 @/ r3 C) S
these oil producer will go bankrupt or out of the business even if
. E) E" ?8 w! Ocrude prices improves. This implies also to good names such as Shell, & A/ u! Y1 G4 Q- M* H
EXXON, BG, BP, Cheveron ....xyz.. oils
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6 ~( r6 m/ E+ q; @6 K! ]$ d- FRecently OPEC reduced crude oil production twice over just a few
: _9 V; c% U/ i9 \0 Z! c$ T9 Bmonths. There are three wars going on in Gaza, Iraq and Afghandistan. : J5 x, T& F9 |) l6 T/ L
A year ago these things would have spiked the price of crude oil by at ; i! p3 z- Y" A6 w
least $50.00 per barrel. Today, oil price declined by a record amount. u' l) h: N \9 t: j1 c
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There are several reasons the price of oil is decreasing in the face & R9 k; Y( d* E1 f1 U5 |. K: x, ]8 \; {
of so much news. These reasons are: 7 J3 S. Z( u! M. N8 ]
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1. New oil has been found in Canada, Montana, North & South Dakota and & m. k* ]" w* z( y
in the ocean near Brazil. Each of these oil fields has more oil than
( k. x* S4 ?6 z% p, g- {5 S GArabia. ! w: \5 l2 G: Q1 r5 b W+ r0 M. O
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3 E0 ^0 {* }: y2. New natural gas has been found in Pennsylvania and West Virginia.
( j( ~! B# K4 G U* SThis is the largest find in North America. * G" N' d& g: C0 ~
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/ `$ h& j5 T0 l( k# a [) ]4 T& E3. New methods of injecting CO2 and surfactants into oil wells is
* p) [8 M2 K: e( G: zbeing used to double their output. 1 N# |% S% C& k& x6 p
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# h2 _% t z' f4 p1 U/ S4. Production of bio-fuels is beginning to reach critical mass. Bio ( T! T b0 C N4 ?# ~- X
fuel is being produced from many plants and algae. The production
+ @- G' w% C+ N4 M+ j! \+ opotential per acre in some cases is astounding. Many countries are
0 C, F K4 o0 P7 Q: kracing to produce bio fuels. / s+ Z: t8 S$ C l1 j
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5. Virtually every restaurant in the US and all food processing plants
: S6 m* ~9 [1 M5 G7 dare now selling their used oil to bio-diesel producers. Every pork,
2 E7 s( d/ v+ l! A P+ Wcattle, turkey and chicken processing plant will soon sell their fat
" q6 v$ k' `( kto bio-diesel producers. One pork processing plant in Oklahoma is
$ O) |7 ]. o. j! C$ l E. @producing 30,000 gallons of bio-diesel per day from pork fat.
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1 u2 S1 L7 [5 {0 q# F. o6. There are 99 nuclear reactors in various stages of planning and $ c6 q7 c/ Y6 i9 L5 w0 B8 b, o4 |
construction around the world at this time. Several hundred more are
8 e* d2 ]& P0 j& ?expected to be built in the future. Much of the energy they produce , V6 M. d& a7 D: ~' h T
will replace oil.
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1 x: h. j* E8 j' T/ T- H7. Every company in any form of transportaion business is replacing 0 | m% t B5 N0 P2 _% ^: }4 l
older equipment such as trucks, airplanes, train engines, ships, etc. ; F* ] P" {4 i" E% G; u
with new more fuel efficient equipment. Airlines and railway companies
% K q, h9 a2 j; Q' W( tare experiencing 20% to 25% better fuel econony with the new ( Z- ]( E& u) r6 R' n; t
equipment. 7 `) s4 M1 n8 o9 d$ M
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Airlines are flying airplanes with bio-fuel. They are finding the bio-
+ f6 J+ G8 a# Q( C1 nfuel is cleaner and performs better than jet fuel.
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5 R' \9 W: ]. G D% J+ S4 d8. Cities and counties throughout the US are selling the rights to
9 m: V4 x; h; ]capture methane gas from landfills. This is a huge source of gas
U- H! ]: l0 |* Mavailable at very little cost or risk. The gas is displacing crude
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0 ?3 I" ~( Q* o0 ~2 W/ `9. Coal is being transformed into a clean burning liquid fuel. The CO2 9 F3 Q* z- H( k6 _9 r; ~
produced as a byproduct is sold to oil companies for injection into
8 v1 z, g0 H2 I; loil wells. 1 b2 x3 a. {5 l" t7 a% W# m0 z! G' K0 W- }
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; N! n# @1 O4 ?' C! x10. Solar, wind and ocean energy is displacing oil as an energy
7 |+ F5 F8 a. P* l1 S/ b, ~" e6 Usource. 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
! _2 G# a K; T; kprice of crude oil but the sum of all of them together is world 9 ~) W* E2 T& `% g5 |, ^
changing. The important thing is that OPEC no longer has the ability . t, v4 ]+ e9 V7 o b
to control oil prices.
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With the above scenario, I still believe that there are under
( ]% [3 [( ?; cperformed OIL companies and probably they are yet to get the justified
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IAE- Ithaca , EPL Energy Partners Ltd, Opti etc ... ' [5 `0 H! G9 {6 q: n
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% E4 K4 F/ H: E2 I/ f, y. @) RThe above articles are from WSJ .............PUBLISHED ON 9TH JAN ( ?+ r* i, K7 ~7 p, ~6 U% Z
2009 ... FYI-Only |
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