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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Razorbak who wrote (41731)	4/7/1999 1:43:00 PM
From: Mike from La.	Respond to of 95453

Razor, Thanks, that was some digging to find those. The main changes between then and now is that new developments have lowered the costs of GTL, also on the threshold of downsizing the units enough to put them on offshore barges and smaller stranded fields. The other is tightening pollution laws, restricting flaring, and especially diesel exhaust. The diesel produced by this process, 'green diesel" is much cleaner burning than anything than any of even the most restrictive regulations proposed for the future. The need to reduce pollution has now become a big driver. California is implementing regulations for diesel that burns as clean as their clean gas, and many think the EPA will apply it nationwide in only a matter of time. This stuff meets it and then some. That may be part of why BP-Arco is building a plant, they sell in Cali. The same story is occurring in Europe and Japan. The process also takes refinery bottoms, which are becoming more difficult and expensive to dispose of, and turns it into green diesel. Also it can use coal bed methane, even garbage dump gas and turn them into the same products. According to the Howard Weil report, the Saudi oil minister said that GLT represented the single greatest threat to Saudi's economic future. I am amazed though, how fast the developments are happening in that field. Things I thought were years in the future are occurring now. We are going to be hearing a lot about this technology, IMHO. I'd like it if Slider took a look at it, but I'm afraid he might go into hyperdrive and slip into another dimension. Seriously, it's still a little early, but this is going to have a huge impact. The BP Arco pilot plant indicates they believe the time is now, at these oil prices. Thanks again for the digging, you must have spent a while doing it. Mike