More evidence that we are entering the fuel cell age...IN AT THE GROUND FLOOR! I have bolded the reference to BALLARD:
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Black gold
Here is the February 1, 1999 edition of The Barkerletter, published in association with The Prospector Exploration and Investment Newspaper.
A reader wants to know about oil prices. Associate analyst A. Canon
Bryan explains below:
'There are a lot of different views on the Black Gold these days.
Typically, in a global deflationary spiral, all commodity prices
continue to sink throughout the crisis until the end; the end being
marked by the collapse of the world's reserve currency. In 1999
terms, that means the death of the US Dollar.
Ultimately though, one must realize that on a global scale, demand is
shrinking. As economies like Japan, Russia, and Brazil tumble like
dominoes, they take demand down with them, and it is this decreasing
demand that creates the hostile environment for commodities prices.
In my view, we haven't seen the final domino fall yet, and thus will
the price of oil and all other commodities continue their downfall.
Further to the cyclical nature of commodities and oil, I have been
giving a lot of thought lately to the extended nature of this malaise.
The sector has not rotated to commodities for three years now.
Technically speaking (referring to charts), that is a very long time.
What could be occurring is what Ian Notley calls 'magnitude failure';
a failure to reverse a significant trend and return to cyclicality.
This could be caused by the following hypothesis which I have been
considering. Energy could be seeing the dawn of a new paradigm with
the advent of hydro electrical fuel cells in automobiles. There is a company in Canada called Ballard Power Systems who vows to have all cars running on, you guessed it, water. And they already have
agreements with major car companies and military infrastructures
around the world.
If this idea flies, we could see a major shift. This is essentially
the main function of technology in our economy. Unforeseen
technological advances come along every once in a while and institute
revolutionary change. This creates efficiencies and major cost
reductions, or in this case environmental improvements, but someone
always suffers a cruel and torturous death in the process. Just think of what happened to typewriter manufacturers when word processors became the craze. They disappeared from the atmosphere. No one noticed. No one cared. But they died a horrible death. I believe the same could happen to oil companies in the new paradigm.
Something to think about |
