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Below is an Interesting article I found, which says that.....Do not 7 [: \ l- X/ u5 [' s
expect much from Crude Oil producers and future is not with the
/ q9 h1 v. t; {. _companies producing Jet fuels but Biofuels. Also no wonder if some of
1 M( _+ ~7 ~& x" l$ i" `these oil producer will go bankrupt or out of the business even if
" k. f: `5 ]9 ?( Z1 G, bcrude prices improves. This implies also to good names such as Shell,
I9 ~ w9 } j* iEXXON, BG, BP, Cheveron ....xyz.. oils 0 L# d7 f( {3 ?, {
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Recently OPEC reduced crude oil production twice over just a few / }* y* S# ]; R9 \5 o7 X9 c1 d
months. There are three wars going on in Gaza, Iraq and Afghandistan. ) g9 z/ M# ^# \, q# ` _8 j
A year ago these things would have spiked the price of crude oil by at
3 o, c4 f" t, `* d+ Pleast $50.00 per barrel. Today, oil price declined by a record amount.
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* g5 ?: U# ~( X) R" x$ t9 R! m6 b, ^There are several reasons the price of oil is decreasing in the face 5 H3 M% s7 H7 Q& Q1 x6 g7 p; h
of so much news. These reasons are:
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- R s( S* W- B4 a1. New oil has been found in Canada, Montana, North & South Dakota and
3 \% v5 f# c% o2 Y6 Tin the ocean near Brazil. Each of these oil fields has more oil than / c1 B4 l9 ?" C/ C; e& f" K3 H
Arabia. # K6 `- @4 C: P, y( l0 U/ |; I# Q
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" U. G: L; y. r: A0 Y- J2. New natural gas has been found in Pennsylvania and West Virginia. 5 D. w6 B$ |$ _8 e/ S% [" g
This is the largest find in North America.
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3. New methods of injecting CO2 and surfactants into oil wells is
) y8 q: t& B# `4 l0 l& Gbeing used to double their output. % m/ w7 ?. Q9 Y
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4. Production of bio-fuels is beginning to reach critical mass. Bio 7 H+ O5 g& `5 n: z0 |
fuel is being produced from many plants and algae. The production
( d8 {1 F$ w5 ?4 ppotential per acre in some cases is astounding. Many countries are , Z- v- |4 o+ i" X; h
racing to produce bio fuels.
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$ R7 H. D5 `9 }+ U: k7 D5. Virtually every restaurant in the US and all food processing plants ' a: Q5 f9 e% g+ X
are now selling their used oil to bio-diesel producers. Every pork,
7 |5 n v6 x& f+ q& [cattle, turkey and chicken processing plant will soon sell their fat
! J2 c' H5 S* y+ X- ^to bio-diesel producers. One pork processing plant in Oklahoma is 1 P' Y, p/ s. |' |0 j i
producing 30,000 gallons of bio-diesel per day from pork fat. - D9 |, p( n1 N
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8 }$ ]% ]# u' K6 e Y8 \- j6. There are 99 nuclear reactors in various stages of planning and
% k- S- {/ Q3 x# r0 d8 g Lconstruction around the world at this time. Several hundred more are 7 o) G* W- S+ K& ^1 R. |% J: j
expected to be built in the future. Much of the energy they produce & n4 F* c$ L7 `- `( g
will replace oil. $ a) ^6 R, j9 J' U. a6 H4 {
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' T5 y) Z, U" \5 a) a, ~; _7. Every company in any form of transportaion business is replacing
* P! H" o- T! x2 `" l6 G( [% ~older equipment such as trucks, airplanes, train engines, ships, etc.
8 m3 ~& V0 l# F6 hwith new more fuel efficient equipment. Airlines and railway companies
" y) K- x, b+ `are experiencing 20% to 25% better fuel econony with the new
! r z, S, \2 Q3 i u, bequipment.
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Airlines are flying airplanes with bio-fuel. They are finding the bio-
& W1 n( u$ { ? j& [* {8 A. efuel is cleaner and performs better than jet fuel. ) }4 ]5 H, x8 K) Z6 c$ i) B* c
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8. Cities and counties throughout the US are selling the rights to
) ]3 Z8 J9 i) ^4 O! jcapture methane gas from landfills. This is a huge source of gas
, u. D- z' O. n& k$ uavailable at very little cost or risk. The gas is displacing crude % K5 _5 Q! o9 e( y, e4 x- j
oil.
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. `: }7 l+ W! u9. Coal is being transformed into a clean burning liquid fuel. The CO2
) C: `9 Y- j! F0 V- o7 O) U8 ^produced as a byproduct is sold to oil companies for injection into
n' [/ Y: Y8 c3 ]' }2 w# A c: |oil wells.
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6 R4 y4 _7 c9 F& O; R4 Q7 y7 g& `10. Solar, wind and ocean energy is displacing oil as an energy 5 ?; Y3 `4 k) m9 s
source. Three new wind turbines are being erected every day in the US.
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- f' k+ H6 I- m8 `Each of the above by itself will not make a large difference in the
7 ]: [- `& }4 G! N5 iprice of crude oil but the sum of all of them together is world
8 F9 C, {& C! Achanging. The important thing is that OPEC no longer has the ability * t n6 Z# G$ \
to control oil prices.
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With the above scenario, I still believe that there are under 1 H" T& T4 E& y- ^
performed OIL companies and probably they are yet to get the justified
5 p Y9 z6 l3 M, o9 E, i' O0 |value ..... 3 k# S2 N* ?! ~! q% w) S# c
IAE- Ithaca , EPL Energy Partners Ltd, Opti etc ...
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+ j& [9 L/ O8 Q2 M2 dThe above articles are from WSJ .............PUBLISHED ON 9TH JAN
( n) o5 c# C$ y0 p8 D; N! ], Q; r2009 ... FYI-Only |
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