Sep 18, 2008
Oil prices are plunging, hopefully back to normal but that doesn’t mean that we should stop finding alternative fuel such as this one being used in Vietnam named Gasohol.
For the record, Gasohol is a combination of Ethanol and Petrol. We can fell a sigh of relief as far as the continued downward trend of the oil price is concerned but you never know when they can go up again. We have seen LPG, Biofuel and other forms of ethanol or alternative fuel that are being introduced in the market and if we are wise, we should keep our options open.
Waiting for another unruly fuel price hike is not exactly the best position we may find ourselves in and if we value our convenience as far as transportation is concerned, then we should do what the Vietnamese people are doing as well.
PV Oil, a PetroVietnam subsidiary, announced on Monday that Gasohol E5 will be provided on a pilot basis in the districts of Dong Da and Cau Giay at VND16,500 ($1) per liter – VND500 and VND1,000 cheaper than A92 and A95 petrol respectively.
Gasohol E5, which is five percent ethanol and 95 percent gasoline, is produced by the PetroVietnam Biofuel Joint Stock Co., an affiliate of PV Oil. This fuel is cost-effective, eco-friendly and safe for engines, PV Oil says.
Aug 23, 2008
Everyone is rejoicing these days as the crude oil prices are slowly going back down. But if you compare it to the first time that they started their upward trend, you will find that they are still way off from the affordable prices we all enjoyed back then.
The call has been to look for alternative fuel or perhaps shift to the electric powered cars. But what makes us so sure that once these efforts would still be continued as oil prices are on the decline?
For one, attention will surely be shifted on analyzing and waiting the downward trend of oil prices. But while that is something that analysts would surely love, the effort for alternative fuel and means of transportation should not be stopped. The current situation should not be a means for us to consider that everything is going back to normal.
Just as quickly as the oil prices spiked, the same can be said for the current oil price decline. It may hit us at a time we least expect it and perhaps even become worse than what we initially experienced. With that in mind, we may even find ourselves going back to square one, maybe even back to nothing as far as alternative measures are concerned.
Aug 15, 2008
If you are happy at the current trends of weekly oil price drops, better make some provisions for potential price hikes once again no thanks to the continued political indicators that have stemmed from wars in countries like Russia and Georgia. The United States is at it again and while the conflict has already been elevated to the United Nations, there is no telling what courses of action that President Bush may suddenly create and once again put us into crisis.
At the moment, the debacle in Russia seems to be stabilizing but do consider the fact that this is only one piece of the problem. Further issues such as eventual shortage of actual resources and oil hoarding are bound to ensue. So if you think it is time to close the alternative fuel developments around the world, doing so would place us in worst situations.
“I don’t think it will go down below $100 for very long,” said Christopher Ruppel, an energy analyst at Execution LLC, a broker and research firm for institutional investors like hedge and mutual funds. “Once you go down too low, you’ll shut down new production, and prices will go right back up.”
Aug 13, 2008
Thanks to the decrease in oil prices in the world market, SUV owners are given a reprieve as far as having to look for alternative forms of transportation. Apparently, not all people have to resort towards looking for alternative modes of transportation these days but this should not be a means to breathe freely. The oil prices these days are still way off to the standard price and by all means they are not stabilized.
So in this scenario, what does a SUV owner do? Apparently he should still try to conserve as much as possible and continue the preservation efforts he did prior to the constant oil price hikes. By all means, there is no telling on whether the prices will spike up again. For now, it would be best to play it safe. By all indications, we are far off from enjoying the traditional oil prices to which most of these SUVs came about.
Aug 11, 2008
If you haven’t been reading the news lately, the oil price in the crude oil market are slowly going down. But while that may seem good news, you may be wondering why the local fuel companies are not doing the same as far as oil price rollbacks are concerned.
One of the things is because they are making sure that the price rollbacks are for real and not just a sudden turn of events. Indeed it would make sense. Decreasing prices for a week and then jumping them up again can drive the consumers crazy. But in all, assigned analysts should be able to note if such market fluctuations would arise and hence be a cause for another round of price hikes that can be a cause for alarm.
As far as the current trends of the oil prices are concerned, the way things are going seems to be a big sigh of relief.
On another note, it is also about trying to regain losses from the series of price increases that had to be done. One thing you should note is that losses during the transition stages and delays of price hikes are high. They are not just a matter of loose change. Imagine the number of consumers in need of fuel and you can determine how much was lost.
But proper auditing of their books should be done. Some may be abusing and using this as a ploy to profit which is entirely foul. Consumers have moved on by taking alternative measures but this does not mean that they don’t care about stabilizing fuel and oil prices. Just like most people they would want to use their own means of transportation once again and use the standard way once more.
Let us hope that oil companies do not use this as a means of earning from changing trends. If auditing shows they are, such a shameful act should be penalized!
Jul 31, 2008
In perhaps what is a piece of good news over the last couple of months, countries such as Malaysia, the Philippines and South Korea are contemplating on reducing oil prices soon. This is considering the current oil prices continue to decrease though. In the past weeks, the global price of oil in the market has been falling and this is good news for the world that has to survive in these hard times of high oil prices.
But while that is a great sign, local distributors still have the last say. There are some local oil companies that have been thinking twice about on whether to cut down oil prices since they are still wary of deficits and losses to which they would want to make up for. The thing is, are these claims legitimate enough to hang on to the current oil prices?
Consumers have called for government intervention to make necessary measures in auditing the books of these local oil distributors. Apparently it seems that this is the logical way to go to certify the claims that they are indeed on the red. And while that is the case, don’t expect the consumers to be as understanding.
On the side of developing alternative fuel, they should not stop. Providing alternative source of fuel is something that can still be beneficial regardless if the current oil prices do go down to manageable levels for consumers. Biodiesel and ethanol alternative still pose a good choice for people especially since they are a lot cheaper and may even cost less once regular oil sets its mark to normal.
Malaysia may reduce fuel prices in the weeks ahead if global oil prices continue to fall, a senior finance ministry official said Thursday.
The government hiked petrol prices 41 percent in June to ease the burden of spiralling energy subsidies, but crude oil prices have fallen around 20 dollars from record highs above 147 dollars per barrel hit earlier in July.
The official said “if oil prices remain between 120 dollars a barrel and 125 dollars a barrel for two weeks,” then Prime Minister Abdullah Ahmad Badawi could announce a cut in fuel costs in the weeks ahead.
Jul 30, 2008
If you think private vehicle owners are the only ones who are being hit by the oil crisis, guess again. Even truckers are feeling the pinch of the oil hikes and this will eventually affect the market of consumer goods. Truckers are responsible for transporting goods from one state to another and with oil prices continuing to go beyond manageable prices, transportation costs are sure to escalate as well. And we all know that once that happens, the cost of consumer goods are bound to follow.
In fact, truckers have brought this issue to the attention of the Bush administration, calling for a comprehensive energy plan to ensure that there will be sufficient oil supply to be made available for trucking that play an integral role in the world of consumerism.
“This is a big problem that requires a big solution,” Windsor said. “Trucking delivers America. Trucks transport virtually 100 percent of groceries, medicine, clothing, appliances and even the fuel that’s pumped at the local gas station. Rising fuel prices not only hurt the trucking industry, but the entire American economy.”
But is it all in the hands of the government? Supplying oil is one thing but the groups responsible for stocking and distributing oil is something that will surely need to be addressed as well. The government can rant and intervene all they want but eventually it will be up to the oil companies.
We feel the effects of oil prices rising these days. Consumer goods are rising beyond sane levels and apparently this has been something that any average consumer is dreading. Its not like companies have a choice. Transportation costs are included in bringing products towards the supermarket shelves for consumers to buy. In all of this, transportation is important to distribute products in the marketing mix. But with fuel becoming a problem in bringing these goods to the proper markets, one can imagine when consumer goods will have their share of distribution problems in the long run.
Jul 28, 2008
One month after the crude oil prices reached an all-time high per barrel price, we are slowly witnessing the incremental decline in pricing which is something that will surely bring a big sigh of relief to people who are getting worried about the rising cost of gasoline and petroleum products. But while they are eyesores, it remains that no one can remain complacent. This should be seen as a temporary reprieve as another price spike can occur anytime.
The development of hybrid cars, ethanol fuel and biofuel should not stop. Groups which had already started out with them must continue the developing of these alternative fuel products if we are to be prepared the next time that this may happen.
Apparently, there are issues such as compatibility to the car engines we have. Hybrid cars are a great recourse but seriously, you don’t really think everyone can afford one in lieu of their old hand cars. It should be remembered that while these cars are seen as alternatives, they can also be heavy on the pocket. And by this I guess we are all aware that the crisis does not cover oil prices alone. They cover consumer goods and services that we all need in everyday living.
This is what we can consider a chain reaction of sorts. Oil may be categorized towards that of industrial and personal transportation areas. But taken as a whole, they are interrelated. Affecting one part of the economic mix hampers the other and may not recover for some time. So to avoid a sudden burst in the long run, it would be best to be ready. We had already started developing the alternative fuel so we should stick to it and keep it handy. We just never know when another crisis may befall since they occur at times consumers least expect it.