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0 l* b6 b* g1 {4 m4 e% J' A+ {/ rBelow is an Interesting article I found, which says that.....Do not 2 t( l" S1 n9 Z$ z' q
expect much from Crude Oil producers and future is not with the & b, z R1 K" C$ U( c
companies producing Jet fuels but Biofuels. Also no wonder if some of D! Q3 _ U; l' E- J0 f' F1 h6 g
these oil producer will go bankrupt or out of the business even if & R$ S+ s% U, k, b. F" j
crude prices improves. This implies also to good names such as Shell, ( b7 y: J9 z+ ^/ m) ]9 E
EXXON, BG, BP, Cheveron ....xyz.. oils
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Recently OPEC reduced crude oil production twice over just a few
2 C8 s8 a3 Z6 J h' `+ bmonths. There are three wars going on in Gaza, Iraq and Afghandistan. ( {* O8 ^) [4 Z5 S K5 y) ]) h2 y' g8 [
A year ago these things would have spiked the price of crude oil by at 2 u3 L/ J2 j4 K2 J
least $50.00 per barrel. Today, oil price declined by a record amount. ' m$ p) p+ q/ e1 o$ ? t4 K
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There are several reasons the price of oil is decreasing in the face
* H, I8 B" a$ A& `. @of so much news. These reasons are: 6 j8 O/ _+ M: Y% b7 Y: c8 a
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3 {4 u9 B: z7 M3 p; L$ @& ^1. New oil has been found in Canada, Montana, North & South Dakota and . X) W& v2 n6 z; D2 L4 Y: V
in the ocean near Brazil. Each of these oil fields has more oil than
! O& j1 p: f' e" t1 PArabia. + { h' Z" M k! ^+ o0 S4 b
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2. New natural gas has been found in Pennsylvania and West Virginia.
9 f; G- {5 q b! V Q; s! A8 ]This is the largest find in North America.
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3. New methods of injecting CO2 and surfactants into oil wells is
* U: X/ b& d {2 o- ?" i$ p1 C2 Zbeing used to double their output.
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4. Production of bio-fuels is beginning to reach critical mass. Bio
6 X* u, W) C! |" mfuel is being produced from many plants and algae. The production
+ Y B8 m8 i- ]( x i0 A. h' `potential per acre in some cases is astounding. Many countries are
& ]* W# q. d/ M, n. [racing to produce bio fuels. 1 x8 f3 ^) k% b5 ^! i* y7 c$ u
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5. Virtually every restaurant in the US and all food processing plants
$ N* g$ G/ x0 v* I9 X4 B. Bare now selling their used oil to bio-diesel producers. Every pork,
- i/ L6 h( `$ e3 {( i2 hcattle, turkey and chicken processing plant will soon sell their fat
; W5 ?" C; U$ H$ V7 g- m7 rto bio-diesel producers. One pork processing plant in Oklahoma is # @2 r: k) L8 G! m' K+ B: t
producing 30,000 gallons of bio-diesel per day from pork fat.
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& K" U6 d8 o6 l6 x" b3 Z! Y" {: r6. There are 99 nuclear reactors in various stages of planning and - }; {7 Q; m( E# U1 e4 o1 d
construction around the world at this time. Several hundred more are 3 Z6 @; G$ c- Z5 b5 O" C! ?/ T
expected to be built in the future. Much of the energy they produce ! x* o* O! Z# N3 m$ u
will replace oil. 7 m% A Y2 D4 y( W* S# Z1 u
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* b& u! U; m1 n7. Every company in any form of transportaion business is replacing
- |& ]9 e0 D6 G& E2 I3 Qolder equipment such as trucks, airplanes, train engines, ships, etc. 2 Z* {" ?& z/ T) P0 B, w
with new more fuel efficient equipment. Airlines and railway companies
4 T6 [2 y% ~/ r' a0 [4 t' V3 yare experiencing 20% to 25% better fuel econony with the new
7 a. ^) {2 D$ N/ A$ c$ H+ Dequipment. ' G/ I3 g# ^$ E8 [5 ~
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Airlines are flying airplanes with bio-fuel. They are finding the bio-
. u: S) A- b7 r/ \* G afuel is cleaner and performs better than jet fuel. : M& Q0 P! e0 D: S
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' V# l8 ^/ S( h6 e3 M# n8. Cities and counties throughout the US are selling the rights to 7 ]" N5 U0 r* c6 C! k
capture methane gas from landfills. This is a huge source of gas " A7 h% V% ^. W5 B- R$ i
available at very little cost or risk. The gas is displacing crude
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9. Coal is being transformed into a clean burning liquid fuel. The CO2
& I3 C. o# B. j' i( iproduced as a byproduct is sold to oil companies for injection into
6 u# N; @* Z7 B: D! P, } Q0 n* m! doil wells. ; }. _- I p- u% g
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( Y7 m" |) d* Q, H- r/ z- |10. Solar, wind and ocean energy is displacing oil as an energy . P t" ?2 Q/ V$ }
source. Three new wind turbines are being erected every day in the US.
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Each of the above by itself will not make a large difference in the
/ ?" J* S( O& J8 R) G8 ?9 ^/ K. dprice of crude oil but the sum of all of them together is world
; d/ d, S: L5 `! Wchanging. The important thing is that OPEC no longer has the ability ' Z% F# R6 i6 }, d
to control oil prices.
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# d( x& p/ S q: n. S2 c. B, V' ^With the above scenario, I still believe that there are under
0 ~ r0 A! M. \8 cperformed OIL companies and probably they are yet to get the justified
0 \& m! V' m* h; hvalue .....
4 F% l5 ]: P! w6 i& [; S, y3 K5 c& UIAE- Ithaca , EPL Energy Partners Ltd, Opti etc ...
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, A) N0 L, ]0 @& O& y$ SThe above articles are from WSJ .............PUBLISHED ON 9TH JAN
. j7 @, N7 T" ?; f& K2009 ... FYI-Only |
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