The British "Financial Times" reported on the 9th that "Brazil Discovered Extra Large Oilfield" reported that Brazil announced on the 8th that it has discovered a giant offshore oil field that may be double the size of the new discovery of BP's Gulf of Mexico last week, which may make Brazil a leading oil producer. country. Petrobras announced that Guara’s oil reserves are recoverable from 1.1 billion to 2 billion barrels of oil and gas. According to an informal estimate, the Tiber field discovered last week by BP as "giant" has a recoverable reserve of 500 million to 1 billion barrels. The Brazilian oilfield may be ready for production in 2012.
Analysis: Regardless of the trend of oil prices, the discovery of new oilfields is hugely positive. In 2002, the Irish geologist Campbell said that the world's oil supply will reach its peak in 2010 at the earliest and then begin to decline. Based on this expectation, oil speculation is particularly crazy. With the continuous discovery of new oil fields, the exhaustion of oil resources is a powerful counterattack, which is good news for maintaining the stability of oil prices.
International oil prices will not rise and fall
The US "Wall Street Journal" on the 10th news "EIA predicts that oil prices will remain at $70 before the end of next year," said the monthly forecast report released by the US Energy Information Administration (EIA) predicts that by the end of 2010, crude oil prices will fluctuate around $70. On the demand side, due to the economic recovery of OECD member countries, average daily crude oil demand will decline by 1.22 million barrels, or 2.6%, from the same period of last year. However, the average daily demand for crude oil in the non-OECD market is expected to increase to 38.44 million barrels.
Analysis: The recovery of the international economy requires a relatively stable oil price. On the 9th, the Algerian Petroleum Ministry Shakib Khalil stated after the OPEC meeting that OPEC would not need to cut production again. This also confirms that the major oil exporting countries will not increase energy prices through production cuts. This is a responsible performance and is also a long-term benefit of the economic recovery.
Indian wind energy development speed
On the 10th, Bloomberg Financial News reported that "the scale of wind power development in India may exceed the Indian government's forecast by 5 times", according to a report by the World Energy Council and the Indian Wind Power Generator Manufacturers Association, the output of wind power plants in India is under construction. The scale may be five times more than India's predicted output in 2030. The report said that India's wind power will reach 231,000 kilowatts, while the government predicts only 48,000 kilowatts. The improvement of wind power generation capacity in India is based on the increase in newly installed energy, and the efficiency of older wind turbines that are more efficient.
Analysis: The Indian government's measures to develop new energy sources to reduce dependence on fossil fuels include tax relief and concessional loans to reduce carbon emissions and slow the pace of atmospheric warming. India, as a global emerging economy, is experiencing rapid economic growth and energy consumption. At present, India has not only been able to reduce its reliance on traditional energy sources, but also to promote the growth of a new industry. This has implications for other countries' energy policies.
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