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Below is an Interesting article I found, which says that.....Do not
2 z" ^; u1 D4 y$ {# a! Qexpect much from Crude Oil producers and future is not with the 0 I4 A/ H7 ^2 e+ r+ h$ ?& R
companies producing Jet fuels but Biofuels. Also no wonder if some of
9 @& s, y" G5 X7 hthese oil producer will go bankrupt or out of the business even if
& ^5 q3 k. s( e8 O$ p( ?, lcrude prices improves. This implies also to good names such as Shell,
% z2 o! y7 P2 Z/ z, _& jEXXON, BG, BP, Cheveron ....xyz.. oils 7 A4 r% [: y# t# s
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Recently OPEC reduced crude oil production twice over just a few
3 ?& j: y4 [# T# J: ^1 F! jmonths. There are three wars going on in Gaza, Iraq and Afghandistan. & n& O" i$ S( W3 h$ `3 Q
A year ago these things would have spiked the price of crude oil by at ; M( X$ w. @0 n, z0 V
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 6 L& ?1 Z1 Q, d; w) l
of so much news. These reasons are: 8 y( V( r; |! j
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9 k3 h) E+ k: k8 V0 P' E& y1. New oil has been found in Canada, Montana, North & South Dakota and
" {* K7 F% p8 d1 K" w0 b+ \in the ocean near Brazil. Each of these oil fields has more oil than 8 M; R" \. L( a j9 J+ W1 k* Q2 M7 P
Arabia.
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6 R% I; D, s4 }2. New natural gas has been found in Pennsylvania and West Virginia. + Q' @4 e v9 C
This is the largest find in North America.
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7 i# \) m& O. F) x! e" `2 S% p$ @3. New methods of injecting CO2 and surfactants into oil wells is ' R5 |% m$ e0 ^# b- H
being used to double their output.
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3 \# i7 \ z" [* A4. Production of bio-fuels is beginning to reach critical mass. Bio 2 S4 i4 ]( K: ]4 J9 T; G' H! S9 C+ f
fuel is being produced from many plants and algae. The production , e8 w _7 d1 u( t n
potential per acre in some cases is astounding. Many countries are
( u% ^: `* C# O; O. i' q# Q* Zracing to produce bio fuels. ( g {) m5 m/ F/ `
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5. Virtually every restaurant in the US and all food processing plants 1 H) ~2 A0 |3 r
are now selling their used oil to bio-diesel producers. Every pork, ' `( p# L& R. p- R5 ^/ l- \
cattle, turkey and chicken processing plant will soon sell their fat 1 B2 ^! |6 y5 m; s
to bio-diesel producers. One pork processing plant in Oklahoma is ' b+ U9 w& ]% P
producing 30,000 gallons of bio-diesel per day from pork fat. ( \& D) R2 ^, X9 |( t6 {3 ~
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6. There are 99 nuclear reactors in various stages of planning and
: K: @7 c5 G$ ?: x7 V( |construction around the world at this time. Several hundred more are 6 S" _: _3 J$ X+ h( @; H0 Z
expected to be built in the future. Much of the energy they produce 1 B6 D, `/ J) {1 l7 ~$ ]: i
will replace oil. - a5 ^: S1 S6 S
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7. Every company in any form of transportaion business is replacing % y$ V# t* X- e
older equipment such as trucks, airplanes, train engines, ships, etc. 6 Y$ p" e6 Y/ u2 [1 U! h
with new more fuel efficient equipment. Airlines and railway companies
5 X: `+ x: [* |# o( a$ @are experiencing 20% to 25% better fuel econony with the new
! E: n$ c' Q/ J) k) \equipment.
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Airlines are flying airplanes with bio-fuel. They are finding the bio- 9 R9 ~5 E! l8 K2 R9 \: Q
fuel is cleaner and performs better than jet fuel.
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, j# U$ ^5 o% C0 h% y" \0 o* A8. Cities and counties throughout the US are selling the rights to . O: v5 a% m5 @. m3 ?
capture methane gas from landfills. This is a huge source of gas
6 ]* H- v. D, w4 ?! C4 Javailable at very little cost or risk. The gas is displacing crude
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) Q8 O; k& K1 j: h5 i9. Coal is being transformed into a clean burning liquid fuel. The CO2
4 _, h8 K' x9 q! n" Dproduced as a byproduct is sold to oil companies for injection into % k! p) Z) t, M2 V3 ^ A
oil wells. : P! y6 I! `2 Q3 O
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* u" {6 k" V. N# z. s10. Solar, wind and ocean energy is displacing oil as an energy
( Y3 V6 j$ e# nsource. 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
5 U5 v* Y$ u7 U9 d2 Y2 Uprice of crude oil but the sum of all of them together is world 5 M+ M2 ?# Z' X
changing. The important thing is that OPEC no longer has the ability " f5 _8 e ^% D4 x# a8 p/ `% L7 X5 d
to control oil prices.
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' N t) c b. n- ^* N1 r/ V! H% }With the above scenario, I still believe that there are under
9 Q! v+ o1 j* }) v( }" u/ Iperformed OIL companies and probably they are yet to get the justified 9 _" ]$ ^* p+ A4 h0 a7 f
value .....
b |; O0 J4 r% C c/ Q( rIAE- Ithaca , EPL Energy Partners Ltd, Opti etc ...
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The above articles are from WSJ .............PUBLISHED ON 9TH JAN
$ s1 F; y: ^# C* j: E; H! Z2009 ... FYI-Only |
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