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Below is an Interesting article I found, which says that.....Do not " m6 {5 m. n! D) s% Q
expect much from Crude Oil producers and future is not with the 3 D; Y2 B$ u% C1 h/ N
companies producing Jet fuels but Biofuels. Also no wonder if some of
* c' w3 g" w$ ^) |) p: R7 J7 xthese oil producer will go bankrupt or out of the business even if
$ r# A+ F( E2 m5 R( Xcrude prices improves. This implies also to good names such as Shell,
. `( J1 P/ ^5 M# p. dEXXON, BG, BP, Cheveron ....xyz.. oils ' s, a, {$ J- |8 m7 w1 \
# N x( W. G4 C5 HRecently OPEC reduced crude oil production twice over just a few 9 y0 Z) q8 V# E5 d3 p$ Y
months. There are three wars going on in Gaza, Iraq and Afghandistan.
9 n' B' n' k: X3 |6 W* HA year ago these things would have spiked the price of crude oil by at 9 I0 M/ ]* E3 M- D) o$ L; v! c9 @4 w
least $50.00 per barrel. Today, oil price declined by a record amount.
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There are several reasons the price of oil is decreasing in the face
6 B$ ]; ~* G7 x3 m3 Aof so much news. These reasons are: . K+ I- r4 k; e6 n, }) Q6 K
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1. New oil has been found in Canada, Montana, North & South Dakota and
" @" _+ ~, V0 h" Z# x& @in the ocean near Brazil. Each of these oil fields has more oil than . [3 J) X- S" g
Arabia. 0 G0 t' a1 H* g4 y! R2 o6 d+ `7 C, D/ a
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2. New natural gas has been found in Pennsylvania and West Virginia. - J* {/ N% ]$ ^$ U' l1 s- x; ?6 K
This is the largest find in North America.
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3. New methods of injecting CO2 and surfactants into oil wells is
/ X5 h7 C6 ?: e" Ebeing used to double their output.
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8 ^$ w9 [' ?* D6 c' _; ~% P: \4. Production of bio-fuels is beginning to reach critical mass. Bio
! t' E3 h6 Y7 y' c1 xfuel is being produced from many plants and algae. The production
1 M7 b; J3 y6 Wpotential per acre in some cases is astounding. Many countries are 3 X7 J! t2 b, l4 N6 F
racing to produce bio fuels. - ?, T2 G4 v+ p; F% D
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( }6 K% o- g+ D: e; b* S7 Q5. Virtually every restaurant in the US and all food processing plants $ G, L6 Q3 y2 A
are now selling their used oil to bio-diesel producers. Every pork, ) t8 y) p: \) O0 ~ ]$ s# f/ H
cattle, turkey and chicken processing plant will soon sell their fat ( C* O4 A. K2 S( M5 w" p
to bio-diesel producers. One pork processing plant in Oklahoma is * \2 U7 e& U+ c+ l! \
producing 30,000 gallons of bio-diesel per day from pork fat.
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5 I2 f' b5 |& Z" ]4 `& d; d6. There are 99 nuclear reactors in various stages of planning and
% o+ \1 X5 [7 M5 l6 cconstruction around the world at this time. Several hundred more are
( P. r9 ~/ Z% g8 k+ ^expected to be built in the future. Much of the energy they produce
( h6 k( r N1 H. f% }8 _, G1 O! gwill replace oil. $ }7 f7 t2 i* _: f0 f2 b$ Z" k
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7. Every company in any form of transportaion business is replacing
3 \" ]: V* R# j) u& j% Xolder equipment such as trucks, airplanes, train engines, ships, etc.
4 b& o+ W8 |0 _# q: H0 `- Nwith new more fuel efficient equipment. Airlines and railway companies 4 E! p$ E5 A: u: w
are experiencing 20% to 25% better fuel econony with the new
" u: Z3 H" f7 s9 \+ H- k+ X8 ~7 ?: }equipment. / P3 D1 I: u3 J: x. k$ [+ H
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Airlines are flying airplanes with bio-fuel. They are finding the bio- - V; y1 a9 x& O7 G% a& Y9 q$ V
fuel is cleaner and performs better than jet fuel.
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4 k5 R% {6 n- ^' o% ?' @- i8. Cities and counties throughout the US are selling the rights to 4 _/ R M ~ _2 @0 K
capture methane gas from landfills. This is a huge source of gas
2 _" F, h# \' O1 P8 C+ X( L* oavailable at very little cost or risk. The gas is displacing crude $ g1 M9 ]6 _7 W9 D5 K- P- U" O3 m
oil.
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( j. A2 g8 y! @1 h/ k- ~% G' O9. Coal is being transformed into a clean burning liquid fuel. The CO2 ( X5 K5 s% P1 x* ]5 z- U
produced as a byproduct is sold to oil companies for injection into ( g/ ~' G7 T5 M H% F% Q
oil wells.
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2 N2 |: _6 Z% t! r* {; D5 M q10. Solar, wind and ocean energy is displacing oil as an energy
4 F, G' I! L4 {9 c$ U0 ?% C- ysource. Three new wind turbines are being erected every day in the US. 6 E8 F% P3 O* a! V; b
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Each of the above by itself will not make a large difference in the
) G. E7 p1 s4 }: o: Tprice of crude oil but the sum of all of them together is world + l# ^$ N: u V& Z0 t
changing. The important thing is that OPEC no longer has the ability 1 ?. ]6 N& ]" o# G/ t& Y, j
to control oil prices.
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With the above scenario, I still believe that there are under
' v7 g4 g7 f' F* e7 ?6 Fperformed OIL companies and probably they are yet to get the justified
( p2 K; |/ M8 |4 Q, G$ i" t2 _value ..... 3 H3 m" F+ F; L% z& q/ _( h/ n5 b
IAE- Ithaca , EPL Energy Partners Ltd, Opti etc ... 2 d7 H& h4 g) W9 ?" z ]+ V. m( k
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2 ^8 p: v& Q' @8 d, h- r" [6 E% JThe above articles are from WSJ .............PUBLISHED ON 9TH JAN ) H" r6 o+ l) l4 j4 ~# H. p
2009 ... FYI-Only |
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发表于 2009-1-13 18:58
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