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% ]# G: l1 r( U- fBelow is an Interesting article I found, which says that.....Do not
6 q% n% b' x* ~; G% s1 }- gexpect much from Crude Oil producers and future is not with the
" j' {* ~4 x3 k( w$ `2 jcompanies producing Jet fuels but Biofuels. Also no wonder if some of
0 U3 ?6 V4 Z3 U# B1 y& vthese oil producer will go bankrupt or out of the business even if - ?9 |5 Y/ ]6 q, e' z$ Z
crude prices improves. This implies also to good names such as Shell,
8 O; M3 M9 z( x% @EXXON, BG, BP, Cheveron ....xyz.. oils 6 u: a. z/ A" b- t& [
/ e4 c7 S* x; p5 G& V( cRecently OPEC reduced crude oil production twice over just a few ( l0 a8 b6 W6 S# E
months. There are three wars going on in Gaza, Iraq and Afghandistan.
% P. n8 Q/ @* {+ k/ zA year ago these things would have spiked the price of crude oil by at 3 S4 ?. a/ ]% V
least $50.00 per barrel. Today, oil price declined by a record amount.
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; [! ~; A6 B0 O- x1 ?There are several reasons the price of oil is decreasing in the face
2 a& R ^" x+ X: Z( mof so much news. These reasons are: . H" q2 H1 O3 {) F0 R7 R
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1. New oil has been found in Canada, Montana, North & South Dakota and
5 Q3 v& ]1 j3 ` k7 f7 }# C H: Vin the ocean near Brazil. Each of these oil fields has more oil than 1 G; M! L- Z: a5 H) u
Arabia.
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* W. `7 m G, N. w2. New natural gas has been found in Pennsylvania and West Virginia. 2 K6 `! ?, V: {3 r: H
This is the largest find in North America.
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7 r/ p% _3 [& b/ ~( r2 E% q" a3. New methods of injecting CO2 and surfactants into oil wells is - p' V/ n v* t0 b2 B4 {5 s
being used to double their output. 0 Q( ] V% M/ Z: f# q+ x
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4. Production of bio-fuels is beginning to reach critical mass. Bio
( P5 v! ]* D1 g3 l9 k+ kfuel is being produced from many plants and algae. The production
/ e' Q3 E- _$ k9 |* l% u3 c% ^potential per acre in some cases is astounding. Many countries are ! g( m9 v1 Z; y
racing to produce bio fuels. ' ], T7 p) B& B
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4 n, z" x2 _$ X. Y% Q8 z5. Virtually every restaurant in the US and all food processing plants 7 p# v- {% g/ }8 h! B* ~
are now selling their used oil to bio-diesel producers. Every pork,
' C; ]3 ]0 b X Q4 D% q) wcattle, turkey and chicken processing plant will soon sell their fat ; n1 Y6 r3 K' }( P
to bio-diesel producers. One pork processing plant in Oklahoma is 6 l: [- p$ R8 e7 P, R
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
. d) I6 h( m% W- Xconstruction around the world at this time. Several hundred more are
9 Q* o8 I6 J8 K4 dexpected to be built in the future. Much of the energy they produce ) r3 S7 O, k# {% `' ^) G
will replace oil. ) _- b' y5 A+ J
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7. Every company in any form of transportaion business is replacing
6 S! _- M. w/ L0 J( ?9 N# \- P; Uolder equipment such as trucks, airplanes, train engines, ships, etc.
) Z8 g/ P% e0 P% c I* @1 M+ }with new more fuel efficient equipment. Airlines and railway companies ! z8 }- s$ w5 R* X8 q9 }' F
are experiencing 20% to 25% better fuel econony with the new m& t$ w! a' a% s
equipment. + a; V( E: s" y& N/ S8 |
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Airlines are flying airplanes with bio-fuel. They are finding the bio- + M! T) F) z0 g1 r& n
fuel is cleaner and performs better than jet fuel.
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8. Cities and counties throughout the US are selling the rights to
% q2 A4 E+ ~0 Q- n8 Pcapture methane gas from landfills. This is a huge source of gas
- Q$ e+ L. s* K- O( V/ E) }+ v* bavailable at very little cost or risk. The gas is displacing crude
' g; E. ? I' q& R* r( D7 C' Eoil. 3 ]+ @" Q9 a- _8 X' N
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9. Coal is being transformed into a clean burning liquid fuel. The CO2 # J5 a \0 q& c
produced as a byproduct is sold to oil companies for injection into
/ Z2 I7 Y* j9 q- W/ |( Goil wells. 0 j0 ~# n/ I& k- L# X
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5 d* ?, |5 F, O! Z10. Solar, wind and ocean energy is displacing oil as an energy - t' i. W2 ` A; q, N" y& g
source. Three new wind turbines are being erected every day in the US.
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- K+ U! {2 l7 h: X1 k& x) FEach of the above by itself will not make a large difference in the 2 y$ O9 S' v% M! \ L9 \$ n9 v2 Y* @
price of crude oil but the sum of all of them together is world ; M6 W8 u! @6 X
changing. The important thing is that OPEC no longer has the ability + c; J H% ?9 R- U
to control oil prices.
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5 k' C- r2 T# p8 \3 ?1 {! Q+ j1 \With the above scenario, I still believe that there are under
9 X, Z' t/ I6 zperformed OIL companies and probably they are yet to get the justified / O- r1 f2 c) W. d/ L, |, H
value .....
& Q4 g _( G$ F7 p3 ?% i TIAE- Ithaca , EPL Energy Partners Ltd, Opti etc ...
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) `) Y1 t5 g2 dThe above articles are from WSJ .............PUBLISHED ON 9TH JAN 3 [$ |+ Y/ f# v- f
2009 ... FYI-Only |
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