Cerebral Shangrila

Thursday, October 27, 2005

It's the oil stupid

It's the oil stupid.No Industry has come to dominate the econo-politic landscape as the oil industry in the 20th century ( The best book to read on this topic is "Prize by Daniel Yergin ", which won the Pulitzer prize and is an awesome read on Oil) .Wars have been fought , nations have risen , businesses have prospored -- all on account of oil.

With crude oil prices still reigning in the low 60's, oil companies are minting money. Exxon Mobil , the world's largest oil company, announced record results yesterday. Exxon's 3rd Quarter revenues were US$ 100 billion ( oh gosh !) and net income was close to US$ 10 billion. This is the first time in the history, a company has managed to reach the $100B revenue mark in a Quarter.

With the current oil reserves predicted to last for another 50 more years, mankind's race for alternative fuel has just begin.
Will the Hybrid's be eventually successful and manage large scale adoption ? Only time will tell.

4 Comments:

  • Yeah, oil & gas, oil & gas, oil & gas sigh

    so much to pay
    so much today
    for oil & gas, oil & gas

    alas

    By Blogger peace092677, at 10:22 PM  

  • development of new alternate has to be faster, since the depletion of the existing reserves are also faster..... till then these existing companies will be minting money definitely.

    By Blogger Ram C, at 11:34 AM  

  • FYI, all the hybrids are flying off the shelves.!! I checked out PRius/Honda Civic HYbrids..both are out.! Civic is coming out with a brand new model for 2006 and is already waitlisted..and is priced too high.! My next car will definitely be a HYBRID car. No doubt.!

    I am sure people will discard their gas sucking SUV's and adopt a HYBRID lifestyle.!!

    Exxon Mobil - Interesting story..Yeah the oil industry rocks atleast for now.!!

    By Blogger Narayanan Venkitu, at 2:25 PM  

  • osc -- to kahin kavi ban gaya kya ?

    ram.c -- yeah,i am sure alternate sources may arrive much earlier than expected.

    venkitu -- thatz nice to hear

    By Blogger Cogito, at 9:29 AM  

Post a Comment

<< Home