Like Mangrove said, the alternative energy plays can be good for traders .....
..... even now, just look at PHY in windpower and others like SGL in the CBM industry.
Power from "hot granite" is also being exploited in Australia and could be a big deal for drilling companies, in years to come.
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That report came out in 1995 and would not have taken into account new technology that virtually doubled the global oil reserves overnight ... that is "white crude".
One plant in Indonesia has been making white crude from natural gas, since 1994 ... and now with oil prices at about US$30.oo bbl, then it is comparable with drilling for new "black crude" oilfields.
When oil was price around US$10-15.oo bbl, then it cost about $18.oo to produce a bbl of white crude, but doing the sums today, the economics would stand up much better.
..... and best of all, there's no nasties in white crude, as it is sulphur free, which is a bonus for some specific engine designs.
We can also see by the offshore rig counts, that despite the sustained high price of black crude, some fundamental shift has occurred to make the oil companies spend less money on exploration.
..... it is thought, that rising white crude production has contributed to this shift of resources, bringing known gasfields online, in preference to digging more wildcat wells.
Only 1 out of 12 categories in the global rig count has been fully utilized this year and the other 11 rig categories a well off their maximum usage .....
So, to the doomsayers, it may take a little longer for black crude to exit the scene than you may imagine.
Meantime, new gasfields will receive a better welcome, than they have received in the past.
happy trading
yogi
Beyond Gann - into a NEW dimension of TIME and PRICE
