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Below is an Interesting article I found, which says that.....Do not 7 q* R/ U# ~! F. L
expect much from Crude Oil producers and future is not with the , I/ y, x2 _* ~) N" ~
companies producing Jet fuels but Biofuels. Also no wonder if some of / d' |! q. H$ L" ~& g5 L
these oil producer will go bankrupt or out of the business even if 5 \9 X! k9 F( R3 G
crude prices improves. This implies also to good names such as Shell,
! }( |9 c/ D2 {! kEXXON, BG, BP, Cheveron ....xyz.. oils , d4 ]2 N0 i% h. ~5 d9 t
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Recently OPEC reduced crude oil production twice over just a few
+ N5 O% r4 ]6 J+ D9 r- p8 Bmonths. There are three wars going on in Gaza, Iraq and Afghandistan. 4 U1 j9 U3 B- V5 j' X) i" F
A year ago these things would have spiked the price of crude oil by at
) @7 d8 v T- Qleast $50.00 per barrel. Today, oil price declined by a record amount. ! F" q9 K! {2 s
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: P' o' M8 @3 IThere are several reasons the price of oil is decreasing in the face
! ^% u1 {. j: j! O- |of so much news. These reasons are:
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1. New oil has been found in Canada, Montana, North & South Dakota and ) a# N& H0 N9 l9 H0 s4 h1 t2 m
in the ocean near Brazil. Each of these oil fields has more oil than
6 T1 M3 p/ M- e, Q( }! ~9 a( EArabia.
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2. New natural gas has been found in Pennsylvania and West Virginia.
3 G4 Z2 p1 p- D* [This is the largest find in North America.
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* v9 C! n( x8 Z! ~6 K& Z3. New methods of injecting CO2 and surfactants into oil wells is + G0 q* _2 Z* q$ h' E E) `0 L
being used to double their output. 9 U- j+ g: [' E6 o) I
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4. Production of bio-fuels is beginning to reach critical mass. Bio & ^& c: ^8 J; e- v* O: g% T0 L8 I
fuel is being produced from many plants and algae. The production & g$ \$ n# n6 z' }* I3 E
potential per acre in some cases is astounding. Many countries are
" ^( P" m9 e' s4 I# g7 dracing to produce bio fuels. * r7 a2 t. [9 U2 B9 x! O' v
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5. Virtually every restaurant in the US and all food processing plants " P9 @" v' \) B8 m. ?" k
are now selling their used oil to bio-diesel producers. Every pork, 2 m: |. r5 E+ s
cattle, turkey and chicken processing plant will soon sell their fat % W3 h( c# w3 {" _8 I
to bio-diesel producers. One pork processing plant in Oklahoma is
, K; Q( q) P- @producing 30,000 gallons of bio-diesel per day from pork fat.
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4 x) A2 G4 {/ E* t4 ?" B# Z j6. There are 99 nuclear reactors in various stages of planning and
; G7 u5 R* @. l6 ?; G* Mconstruction around the world at this time. Several hundred more are 2 `$ i7 z0 u! X8 u. ~' g. S8 B. s
expected to be built in the future. Much of the energy they produce 5 u# \) H) K ~& d
will replace oil.
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" f# Y$ X: X( t" s4 X7. Every company in any form of transportaion business is replacing
1 W' m$ y# M3 G% ]5 Zolder equipment such as trucks, airplanes, train engines, ships, etc.
" D) Q8 T- ^% i$ K, Xwith new more fuel efficient equipment. Airlines and railway companies 0 g0 Y. f/ y+ | O) h& @7 i
are experiencing 20% to 25% better fuel econony with the new
' O+ j" j* d1 _) q$ h+ ]equipment.
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Airlines are flying airplanes with bio-fuel. They are finding the bio-
9 f6 k% Z$ D* Y1 i5 mfuel is cleaner and performs better than jet fuel. 8 I0 P# h4 m3 T1 }$ u
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8. Cities and counties throughout the US are selling the rights to
/ x* ]% F% r' `+ f, Q3 qcapture methane gas from landfills. This is a huge source of gas
- I4 u: s! V/ f. X" {- ^6 R, Cavailable at very little cost or risk. The gas is displacing crude 5 l" F6 Z7 z( D
oil.
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3 B% ]! ]! D8 T. i9. Coal is being transformed into a clean burning liquid fuel. The CO2
' w2 B& B2 i8 B% l; dproduced as a byproduct is sold to oil companies for injection into
/ ^2 o* ^1 Y- T6 xoil wells.
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10. Solar, wind and ocean energy is displacing oil as an energy 4 a# O7 A2 A5 ^5 f0 k
source. Three new wind turbines are being erected every day in the US.
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3 _ P. E. U; U `. x9 DEach of the above by itself will not make a large difference in the
$ M% I& s5 Q6 S4 t, Yprice of crude oil but the sum of all of them together is world
6 c( x$ g- `" x) ?" I. Tchanging. The important thing is that OPEC no longer has the ability
& y- ]1 u' m! L! o/ Xto control oil prices. / |, v7 ?- T# a8 G+ Z& l& Z
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8 @9 M9 i4 w" c6 q+ RWith the above scenario, I still believe that there are under 9 O& m9 Q$ F: L; k* K5 S5 W, A9 }
performed OIL companies and probably they are yet to get the justified - ]( r/ s* W( z& @+ ?+ e
value ..... 6 @6 l/ O J, A
IAE- Ithaca , EPL Energy Partners Ltd, Opti etc ... % N! a9 f9 \4 Q- `
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The above articles are from WSJ .............PUBLISHED ON 9TH JAN , v3 R6 c0 b! ~9 f
2009 ... FYI-Only |
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