Wednesday, October 5, 2011

PNG, Jatropha (Biofuel) or pay more-Cheap days are Gone-period!

Below are latest possibly the begining from the people-PNG government has to wake up and realise that cheap fuel days are gone, reserves are scarce and expensive to be off shore.

Do biofuels or die!

Expert: Era of cheap oil over
The National - Thursday 06th October, 2011
THERE are enormous oil and gas resources available in the world today, but the challenge is to convert that into reserves that can last another century, International Society of Petroleum Engineers president Alain Labastie said yesterday at the University of PNG.
He said the era of cheap oil was now over and the cost of producing other new types of oil products would continue to increase, leading to oil prices increasing too.
Labastie was visiting the geology final year students for an inspirational talk on how the energy and petroleum industry looked globally.
He said at the moment, the production cost of making new oil products will require a lot of technology, capital and staff.
“With the rising cost of production, the oil prices will also continue to increase but will never fall below the US$70 a barrel mark, as this will mean an operational loss for oil companies.
“This is the long-term problem for all of us. Because when production stops, we will all stop as well and the economy will not grow.
“As for staff with the knowledge on how to do this, there was a good chance that in three to five years, companies would be bidding for qualified staff.
“It is already happening in Canada and parts of the world where skilled manpower is tendered,” he said.
Labastie encouraged the students to work hard in their field of study as the energy and petroleum industry was an important part in economic growth.
He said through the industry, new ways were being sought to address the carbon dioxide emissions caused by the industry and the end-users of energy products.
“This is an opportunity for more jobs to be created and for more people to be skilled in this work.
“Growth is fuelled by energy and when the economy is doing well, any financial crisis is disregarded by the world’s need for oil and that I am optimistic about,” he added.
ESP engineer backs jatropha plan

The National - Thursday 06th October, 2011
A LOCAL chemical engineer is supporting the jatropha bio-fuel initiative because it has more value and other benefits.
Chemical engineer John Wafi from East Sepik said the jatropha bio-fuel project being advocated by another East Sepik engineer, Thompson Benguma, was a good project as it could reduce the cost of electricity in households and at the same time help alleviate poverty by generating income.
Wafi said the project could be adopted by the government as its rural electrification programme.
He said jatropha was miles ahead of palm oil, and appealed to policy makers to help introduce and develop the crop as a national industry.
He said jatropha, unlike palm oil, gave off nitrogen through its dried leaves, thus contributing to soil fertility.
Wafi said oil palm depleted soil nutrients.
He said a jatropha project was sustainable unlike fossil oil and gas.
Wafi said jatropha had many other by-products that included soap and washing detergent.
He said jatropha was also good for intercropping.
The government should support this project by providing the needed capital to develop it into a sustainable industry, Wafi said.