Colver Technologies says that suggestions that it could take years to see $100 again are wishful thinking.
Colver Technologies says a global return to $100 oil is “far closer than we think”. The prediction was made by Gus Stuyvesant, the small-scale GTL production plant company’s Chief Operating Officer at a renewable energy event in Niagara Falls, Ontario.
“We’ve heard commentary from pundits and supposed experts all over TV channels like CNBC and Fox Business, We’ve even heard from people at OPEC who really ought to know better saying things like $100 oil Is years away but it’s nonsense. Oil is priced in dollars and, while the dollar remains relatively strong, prices will remain at around current levels but as soon as it dawns on people that there won’t be an interest rate increase, all bets will be off,” said Mr Stuyvesant.
According to Mr Stuyvesant, Colver Technologies continues to enjoy healthy demand for its modular systems as US rig counts have fallen consistently since June of last year. The company recently began shipping its reactor technology to smaller high-cost producers in South America and the Russian Federation who need to maintain cash flow.
“To say the dollar is enjoying something of a renaissance at the moment would be a understatement but it is, in my opinion, at its zenith. It’s been elevated by the general perception that the Federal Reserve is going to raise interest rates while the rest of the world is loosening monetary policy. Once it becomes apparent just how ridiculous that is, the dollar will weaken significantly sending oil prices up sharply,” explained Stuyvesant.
Colver Technologies maintains its view that oil prices will close out the 2015 at $60-70 a barrel.
About Colver Technologies
Colver Technologies’ modular GTL systems revolve around the Fischer-Tropsch reactor, a conversion technology developed in the 1920s by Franz Fischer and Hans Tropsche in Germany in 1925. It facilitates the production of significantly cleaner-burning liquid fuels like diesel and jet fuel from natural gas that contains no sulfur. We are committed to doing our part to drive uptake of GTL fuels as global efforts to reduce emissions increase and have invested heavily to ensure the continuing development of this highly attractive alternative to conventional energy production.
Contact Colver Technologies:
Longzhimeng Asia-Pacific Center
22 Pangjiang Street
Dadong, Shenyang, Liaoning
China
contact@colvertech.com
http://www.colvertech.com
862422599383