EMS

Marc Faber, Jim Rogers and Boone Pickens - Bullish on Oil

And Hydrogen.


On Jan 12 12:05 PM Michael66 wrote:

> I have posted this comment before and I will continue to post it.
>
>
> The oil companies and the speculators want us to believe the recent
> decrease in crude oil prices is simply due to a temporary decrease
> in demand. They want us to believe things will soon return to normal
> and the oil price will again increase.
>
> The decrease in the price of crude oil is not temporary. The fact
> of the matter is that the decline in price is primarily due to a
> rapid increase in the supply of many alternatives to crude oil. The
> decline is not temporary.
>
> Crude oil is being DISPLACED by the other energy sources which are
> rapidly arriving on the market. The DISPLACEMENT of demand for crude
> oil is occurring much more rapidly than the oil companies and the
> speculaors imagined.
>
> WHY CRUDE OIL PRICES WILL DECLINE:
> Recently OPEC reduced crude oil production twice over just a few
> months. There are five wars going on in Liberia, Mexico, Gaza, Iraq
> and Afghandistan. A year ago these events would have spiked the price
> of crude oil by at least $50.00 per barrel. Recently, oil price declined
> by a record daily amount.
>
> There are several reasons the price of oil is decreasing in the face
> of so much news. These reasons are:
>
> 1. New oil has been found in Canada, Montana, North & South Dakota
> and in the ocean near Brazil. Each of these oil fields has more oil
> than Arabia. Canada is constructing several pipelines to deliver
> the oil to the US and to their west coast for shipment to Asia.<br/>
>
> 2. New natural gas has been found in Pennsylvania and West Virginia.
> This is the largest find in North America. Currently the total US
> gas production is 30 trillion cubic feet per day. The Pennsylvania/West
> Virginia gas field is expected to produce 50 trillion cubic feet
> per day or more. America’s gas production will soon triple.
>
> 3. New methods of injecting CO2 and surfactants into oil wells is
> being used to double their output.
>
> 4. Bio fuel is being produced from many plants and algae and production
> is beginning to reach critical mass. The production potential per
> acre in some cases is astounding. Many countries are racing to produce
> bio fuels.
>
> 5. Virtually every restaurant in the US and all food processing plants
> are now selling their used oil to bio-diesel producers. Every pork,
> cattle, turkey and chicken processing plant is selling their fat
> to bio-diesel producers. One pork processing plant in Oklahoma has
> an on premises bio diesel plant and is producing 30,000 gallons of
> bio-diesel per day from pork fat.
>
> 6. There are 99 nuclear reactors in various stages of construction
> around the world at this time. Several hundred more are expected
> to be built in the future. Much of the energy they produce will displace
> oil.
>
> 7. Every company in any form of transportaion business is replacing
> older equipment such as trucks, airplanes, train engines, ships,
> etc. with new more fuel efficient equipment. Airlines and railway
> companies are experiencing 20% to 25% better fuel econony with the
> new equipment.
>
> Airlines are flying airplanes with bio-fuel. They are finding the
> bio-fuel is cleaner and performs better than jet fuel. The US Air
> Force has been told to switch all its jets to bio fuels as soon as
> practical.
>
> 8. Cities and counties throughout the US are selling the rights to
> capture methane gas from landfills. This is a huge source of gas
> available at very little cost or risk. The gas is displacing crude
> oil.
>
> 9. Coal is being transformed into a clean burning liquid fuel. The
> CO2 produced as a byproduct is sold to oil companies for injection
> into oil wells.
>
> 10. Solar, wind and ocean energy is displacing oil as an energy source.
> Three new wind turbines are being erected every day in the US.<br/>
>
> 11. Methyl hydrates will one day soon be an enormous sourch of energy.
> There is more methyl hydrates deposits than ALL other fossil fuels
> in the world combined. The test wells to extract methyl hydrates
> are producing much more gas than anticipated. The researchers are
> quite excited about their progress so far.
>
> Each of the above by itself will not make a large difference in the
> price of crude oil but the sum of all of them together is world changing.
> The important thing is that OPEC and the speculators no longer have
> the ability to control oil prices as they have in the past.