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' y M2 h7 C0 d" Y: hBelow is an Interesting article I found, which says that.....Do not 9 A/ d, @# G& X0 v3 @5 u
expect much from Crude Oil producers and future is not with the
. z; A1 z3 D; P$ h8 ~companies producing Jet fuels but Biofuels. Also no wonder if some of ! R6 Z$ [; N; r3 L7 H
these oil producer will go bankrupt or out of the business even if
0 a; {0 s2 C: z2 B; ?% l9 Lcrude prices improves. This implies also to good names such as Shell, * n: O/ G) e7 [4 a$ x& x v
EXXON, BG, BP, Cheveron ....xyz.. oils
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: `4 F$ k) i7 _, IRecently OPEC reduced crude oil production twice over just a few % Q. |; x$ q5 `7 s3 ~9 ~. Z
months. There are three wars going on in Gaza, Iraq and Afghandistan.
( ? o( ]" w, F! }4 r! }6 q6 iA year ago these things would have spiked the price of crude oil by at 3 n3 z9 _, {) d7 I% w
least $50.00 per barrel. Today, oil price declined by a record amount. , P" g+ I. c$ v' c: U
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There are several reasons the price of oil is decreasing in the face 6 m) o& p! k; X% k5 a9 H, K7 [: C
of so much news. These reasons are: ) y( v/ z J% _
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1. New oil has been found in Canada, Montana, North & South Dakota and
# L( w. r" e5 R2 m% Q, V+ J! @in the ocean near Brazil. Each of these oil fields has more oil than
5 t. {2 |! m2 l" aArabia.
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2. New natural gas has been found in Pennsylvania and West Virginia.
9 s" V9 z9 t3 U$ _. fThis is the largest find in North America. 3 ?, v; |, I' I
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' J/ n7 Y# Q* [. B( R3. New methods of injecting CO2 and surfactants into oil wells is - i6 U9 `9 V9 [8 D% `
being used to double their output.
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2 p8 p7 R# [( I; R" N4. Production of bio-fuels is beginning to reach critical mass. Bio 7 ], C2 p. P" _" ^' B' x- c4 `1 o
fuel is being produced from many plants and algae. The production ; }% h4 s; x3 x3 |3 f' x; d: y; X
potential per acre in some cases is astounding. Many countries are + Z+ T+ I( \' u4 f( s1 _" I
racing to produce bio fuels.
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6 r- r h% G- U( W; T& \" D: u5. Virtually every restaurant in the US and all food processing plants + l8 i6 G# ?2 S
are now selling their used oil to bio-diesel producers. Every pork,
$ Z U' v( y" ycattle, turkey and chicken processing plant will soon sell their fat
/ l6 X$ `3 I9 f0 W# U5 oto bio-diesel producers. One pork processing plant in Oklahoma is + A. {) p6 x5 C" K
producing 30,000 gallons of bio-diesel per day from pork fat.
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6. There are 99 nuclear reactors in various stages of planning and ; L( C8 T3 K' X0 b5 t5 F
construction around the world at this time. Several hundred more are 7 _6 N1 Z$ o7 c+ S/ g4 k7 J
expected to be built in the future. Much of the energy they produce . t* ]$ f9 m: k& u4 J; M& t- t
will replace oil.
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5 }- `$ a( l( T Y p# }) m7. Every company in any form of transportaion business is replacing
* m$ B$ @5 o7 }4 U6 {1 G$ Eolder equipment such as trucks, airplanes, train engines, ships, etc. & R/ z, `+ O8 [* I; D3 w
with new more fuel efficient equipment. Airlines and railway companies
; S/ D! n. R* H7 }) r* G9 `' Jare experiencing 20% to 25% better fuel econony with the new - n+ {, V' D) d+ ~7 F, v: K
equipment. & k- S2 N/ f9 R3 P" A6 g
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" ^- ?' s6 \# i4 x* U8 C& b0 aAirlines are flying airplanes with bio-fuel. They are finding the bio-
5 h t$ R% T7 t" e3 T' ~/ a& Hfuel is cleaner and performs better than jet fuel.
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8. Cities and counties throughout the US are selling the rights to $ F9 l9 T4 v6 {( k4 h" F0 _
capture methane gas from landfills. This is a huge source of gas
* W( I1 w# J6 N8 B8 J( o" Bavailable at very little cost or risk. The gas is displacing crude % V- X$ b0 @9 }; A L* _' F
oil. : I8 n* X* B# j# s9 E
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. W. j/ S. F/ Y9 S9. Coal is being transformed into a clean burning liquid fuel. The CO2
z- a2 P& B- u2 j8 R: R6 ?$ Tproduced as a byproduct is sold to oil companies for injection into 0 {& P g1 D+ P7 p
oil wells.
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% U# E7 Q, \* f10. Solar, wind and ocean energy is displacing oil as an energy 8 Z; \) g: ^1 P! F
source. Three new wind turbines are being erected every day in the US.
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2 G5 `& C3 F9 D: i p# }Each of the above by itself will not make a large difference in the ! y: }6 r# W8 T
price of crude oil but the sum of all of them together is world % s( l+ D# c1 y: f) F3 o7 W
changing. The important thing is that OPEC no longer has the ability / u6 u# |, z: J
to control oil prices. $ }' s$ m q& i2 [( h
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`+ M' K3 ^' Q8 oWith the above scenario, I still believe that there are under % _4 Y- J- T& M5 t) g8 I" `
performed OIL companies and probably they are yet to get the justified I6 X% W" Z: K2 D6 _6 \' e
value ..... ( `+ N% {/ S# {: z, ^/ K
IAE- Ithaca , EPL Energy Partners Ltd, Opti etc ... 7 m$ D" R1 F7 y8 |8 x# M% g+ }
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4 e7 k" H" s4 x, |/ g) T& A WThe above articles are from WSJ .............PUBLISHED ON 9TH JAN
l6 O5 r; }7 i' _+ I+ ]2009 ... FYI-Only |
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