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Below is an Interesting article I found, which says that.....Do not 0 e y# Y4 m7 I: `9 [% \+ h7 Q
expect much from Crude Oil producers and future is not with the ' }' ~1 Q$ s# y# l+ i) ~/ Y9 T
companies producing Jet fuels but Biofuels. Also no wonder if some of 9 I/ r# A& B7 G- }5 {
these oil producer will go bankrupt or out of the business even if + R, Z$ a) l* v" |) k$ S% c
crude prices improves. This implies also to good names such as Shell,
+ @4 B/ J% n) {1 \& A0 P* D3 iEXXON, BG, BP, Cheveron ....xyz.. oils " w( C0 a- X1 m9 a8 D* \
- k" f0 S/ n Z1 u4 h+ ERecently OPEC reduced crude oil production twice over just a few
: R) m" s; b- \1 p0 k4 j* Fmonths. There are three wars going on in Gaza, Iraq and Afghandistan. 4 _) L9 l% f) O( V0 v% |- o% G9 v, d
A year ago these things would have spiked the price of crude oil by at 6 P( i- M6 e3 W/ g$ ]1 h
least $50.00 per barrel. Today, oil price declined by a record amount. ) _; z# M8 V" W' v( W
, l5 ~4 [( t$ l9 b( v3 {$ A; `& i
5 D. _6 Y; _+ c# L+ H/ D# bThere are several reasons the price of oil is decreasing in the face 8 Y9 e" t% u: ?. N6 y9 A
of so much news. These reasons are:
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$ d6 Y* P$ d4 {/ J1. New oil has been found in Canada, Montana, North & South Dakota and 0 O- T$ v) w( i1 S" \
in the ocean near Brazil. Each of these oil fields has more oil than
- Z( f( P& d# N8 _, N# Q5 UArabia.
- R3 B0 n; r8 @ U- ^' m, u c2 p9 j" u3 w! v
2 V1 z+ u( R: ^3 J# u3 S! R
2. New natural gas has been found in Pennsylvania and West Virginia.
& A) i0 g* j9 ] c% gThis is the largest find in North America. ~; j5 \/ I* M T% B" \$ o0 f
1 I/ g; t" g1 {7 R- Z. T( o
4 r: F" k3 e3 |3. New methods of injecting CO2 and surfactants into oil wells is
& J. f5 T0 Z! Z7 j! O) l& `being used to double their output. : z. q1 K5 O5 d; C5 D
- d$ `2 B! q4 i) I6 B j7 E
2 S& O" H& `; M5 b
4. Production of bio-fuels is beginning to reach critical mass. Bio 4 Q1 m+ Q: t ^/ S. X6 L/ G: L: q, C
fuel is being produced from many plants and algae. The production
$ i* S! Q. e% M% ppotential per acre in some cases is astounding. Many countries are
% q; N- k! n$ j6 W: F5 c5 ]racing to produce bio fuels. 1 ]7 }" u! o5 k- Y2 f' {! I; U; N
, f% C r( j% `# i. y9 m
# J+ ]: z! }2 a5 Q3 |, y0 g5. Virtually every restaurant in the US and all food processing plants - T% F6 v% r* @
are now selling their used oil to bio-diesel producers. Every pork,
7 d5 J% ]6 z) s4 l: H$ j" Qcattle, turkey and chicken processing plant will soon sell their fat ; R# p% L0 k1 k1 V* G' R
to bio-diesel producers. One pork processing plant in Oklahoma is 4 e. r+ W! j! O6 P. w) G/ v, ?/ `
producing 30,000 gallons of bio-diesel per day from pork fat. * e( ]+ l# d1 T& q+ e* M" U
6 |$ s- S. D6 S; n; {
" V5 c f& R/ c4 }# e6. There are 99 nuclear reactors in various stages of planning and
8 V& ^$ J: O# o0 G& {( Tconstruction around the world at this time. Several hundred more are 1 D+ c8 j, r/ M( E- m8 B7 B
expected to be built in the future. Much of the energy they produce # h8 c$ [" c' U) \6 Z. }
will replace oil.
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1 h, b! G' |; P/ f) G
% R# g6 s( ]: Q E) L9 l/ ?; j+ Z7. Every company in any form of transportaion business is replacing % |5 s0 w, X+ l$ q
older equipment such as trucks, airplanes, train engines, ships, etc. : V' A7 n. O* ~( H# H
with new more fuel efficient equipment. Airlines and railway companies
- Q% h4 S4 |9 [5 M1 lare experiencing 20% to 25% better fuel econony with the new
# e5 A; u! Z( F* Y8 \equipment. & e( P8 D8 y* c+ o2 F$ S
- \ F9 D4 W, z7 j
, W) `; p/ b4 T" P8 C) vAirlines are flying airplanes with bio-fuel. They are finding the bio-
0 D! F8 O k1 r' t: Q" nfuel is cleaner and performs better than jet fuel.
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& y" T1 H) v" e1 R% E) v% [& R( b- X: v3 o) M
8. Cities and counties throughout the US are selling the rights to & H3 s0 E0 D: t# \+ L+ }7 C
capture methane gas from landfills. This is a huge source of gas
2 M9 y }. ~5 H, R( zavailable at very little cost or risk. The gas is displacing crude
5 i3 |9 x' r: ~5 P& g2 @oil.
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9. Coal is being transformed into a clean burning liquid fuel. The CO2 " ?' B5 l- }* `$ o& ^7 U7 w: c. e
produced as a byproduct is sold to oil companies for injection into
& q* T# ^4 ~1 Z: Xoil wells. 3 E! ?' L6 _2 E7 o& [5 p! d' Z
, \6 h* l" l. Z' v
/ D/ x% C, C0 Y% Q* I) P/ n10. Solar, wind and ocean energy is displacing oil as an energy ; j7 a4 h. ^( I% B! y! p! y7 G
source. Three new wind turbines are being erected every day in the US. + B9 M+ [" M4 l1 _" T6 I- L
+ s" d; R) T) e2 W, d, C
) u5 J: [% `2 T) [1 k9 O$ y. iEach of the above by itself will not make a large difference in the
- e/ d# m- X7 ^price of crude oil but the sum of all of them together is world
( @( W( w* N+ @2 c+ ^( Echanging. The important thing is that OPEC no longer has the ability
3 d7 m0 {: `& G" ~$ Jto control oil prices. % h. M$ X6 O. z% c
7 {$ Z4 ~1 L* d
% i( y) q0 ~. s6 J/ I; p, LWith the above scenario, I still believe that there are under
, J# H) ^" C: ?9 W! P! @& Dperformed OIL companies and probably they are yet to get the justified / @/ D5 {7 R9 Q& Z2 G
value ..... * |- \4 Z* F3 t
IAE- Ithaca , EPL Energy Partners Ltd, Opti etc ... . Q* R5 j0 A2 r% b% g! P* V
/ E+ ]3 f4 P' u* }$ e
1 {4 C: H, j* ]* c) e9 e# ?3 a& {# dThe above articles are from WSJ .............PUBLISHED ON 9TH JAN
, G; `9 D$ ]& W2009 ... FYI-Only |
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发表于 2009-1-13 18:58
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