With international oil prices reaching $100 per barrel, is this good news or bad news for us?
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This post was last edited by jordan569 on 2013-1-6 23:26. International oil prices rose sharply on the first trading day of 2008. By around 12:06 p.m. Eastern Time on the 2nd, the price of light crude oil for delivery in February on the New York Mercantile Exchange reached $100 per barrel in electronic trading, breaking the previous record set in 2007 of $99.29 per barrel for spot prices of international crude oil. Before Shenhua Group launched its coal-to-oil project in Inner Mongolia, the industry generally agreed that coal-to-oil technology was not yet mature, the costs were too high, and the risks were too great. Du Minghua, director of the Beijing Coal Chemical Research Institute, also said that although China has mastered coal-to-oil technology, it is still in the experimental stage and lacks experience in industrial-scale production. Especially in terms of costs, the benchmark at that time was that coal-to-oil production could be profitable at costs between $22 and $28; above $28, the profits were quite substantial. However, there are many doubts regarding this cost calculation. “The Yunnan Pioneer coal-to-oil project, which is ready for approval, has an estimated cost for its main raw material, coal, of only 89.1 yuan; based on this, it was determined that a profit margin of between $22 and $28 is achievable. In fact, current coal prices are already much higher than this; in many places, the price at the mine entrance exceeds 240 yuan, which is three times the calculated base price. At the same time, rising oil prices will inevitably lead to an increase in prices overall. This might be good news for the coal chemical industry, but it doesn’t seem to be good news for those of us who work in this sector! .Note $ # $ $
Rising oil prices only benefit oil-producing countries. With oil prices so high at the moment, it’s necessary to develop coal-based chemical industries aggressively. Coal is indeed expensive right now, and in the future a range of preferential policies for businesses will be abolished; large enterprises will be able to survive, but small and medium-sized companies will face the risk of going bankrupt. That’s why companies are currently undergoing reforms, and in the future the main concern won’t be coal prices. I think it will be transportation issues – those located near mines will naturally receive support and investment, while coal prices in more remote areas will definitely be much higher. Moreover, fewer and fewer people are simply selling coal; after all, who wouldn’t want to acquire a mine for development?
Support coal-to-oil conversion; energy security must rely on our own efforts, without any illusions
International oil prices rose sharply on the first trading day of 2008. At around 12:06 p.m. Eastern Time on the 2nd, the price of light crude oil for delivery in February on the New York Mercantile Exchange reached $100 per barrel in electronic trading, breaking the previous record set in 2007 of $99.29 per barrel for spot crude oil prices. Stocks in related markets are also expected to benefit from this rise in oil prices. 1. Coal sector: China Shenhua (601088), Zhengzhou Coal and Electricity (600121), Datong Coal Industry (601001), Hengyuan Coal and Electricity (600971), Xishan Coal and Electricity (000983), Guoyang New Energy (600348), Shanghai Energy (600508), Jinniu Energy (000937), Gasification (000968), Lanhua Science & Technology (600123), Shenhuo Co., Ltd. (000933), Pingmei Tianan (601666), Shanxi Coking (600740), Panjiang Co., Ltd. (600395), Yanzhou Coal Industry (600188), Antai Group (600408), Lu’an Environmental Energy (601699), Kailuan Co., Ltd. (600997), Lianmian Coal Industry (002128), Jingyuan Coal and Electricity (000552), Aishi Co., Ltd. (600652).
Rising oil prices bring more concerns than joys for us
Reason: 1. Rising oil prices will directly lead to a significant increase in the production costs of related downstream industries； 2. Rising oil prices will have a negative impact on the automobile manufacturing industry and related sectors ； 3. Rising oil prices will increase the daily consumption expenses of ordinary people
Rising oil prices act as a catalyst for the entire coal chemical industry, inevitably accelerating its development. On the other hand, rising oil prices pose a challenge to China’s overall economic development. The ability to ensure domestic fuel supply and whether gas stations have fuel will directly affect people’s lives and production.
The shift to coal after the depletion of oil is a result of market forces. I think we should improve the efficiency of coal utilization and pay attention to environmental protection; we shouldn’t just focus on the fact that oil prices are high right now and that using coal to produce olefins is profitable.
Oil prices are rising, prices in general are rising, meat prices are rising, prices of rice and flour are rising, while wages remain unchanged. How can ordinary people survive? ?
It provides good prospects for the development of coal refining technology in our country.
Rising oil prices are inevitable, and coal-to-oil technology surely has great potential for development. Looking forward to helping alleviate pressure on China’s energy sector!
I can’t agree. Like coal, oil is a major non-renewable fossil fuel; the gradual depletion of these resources, along with excessive and improper exploitation, has put humanity’s modern modes of production at risk. A sharp rise in oil prices (with limited increases after adjusting for inflation) helps to promote the development of alternative energy sources and curb excessive consumption, thereby contributing to energy savings and emission reduction. It is hoped that rising oil prices will achieve this goal without excessively lowering the standard of living of the people.
A barrel of crude oil exceeding $100 is a warning for any industry: an energy crisis! What we need is not to make profits from converting coal into oil, but to solve our energy supply problem. You need to save energy and develop renewable energy. This is the responsibility of us chemical workers of this generation
Rising oil prices should facilitate the development of renewable energy. Almost all economic evaluations are based on oil prices as a reference.
1. Rising oil prices have led to an energy crisis, which could very well bring China’s economy to collapse, and the achievements of 30 years of reform and opening up would be lost. 2. Rising oil prices could lead to domestic unrest, and shortages of various resources will inevitably trigger some unexpected events. 3. Rising international oil prices could lead to a new energy war, with countries fighting over resources. 4. Rising oil prices can help **people realize the importance of energy and make rational use of various resources.
The oil price of 100 is not much higher than the peak level reached in 2007; in reality, it is mainly a test of people’s psychological endurance. 100 seems to be a psychological threshold, and the situation isn’t as serious as one might think
Resource prices will always rise; that day has come earlier than expected
It’s definitely not a good thing; coal prices will also rise
The coking industry should become even more prosperous~~ After all, there is plenty of coal available, and making good use of it holds great prospects~
For those of us in the coal chemical industry, the higher the oil prices, the better. This way, the prices of downstream products such as gasoline, diesel, methanol, dimethyl ether, synthetic ammonia, urea, formaldehyde, and so on can remain high, which is conducive to the healthy development of the coal chemical industry – particularly the development of coal-to-oil conversion. As we know, this year China imported 180 million tons of oil, with a foreign dependence rate as high as 45%, which poses a challenge to the country’s strategic security. Only by relying on high oil prices and vigorously developing coal-to-oil conversion in order to reduce dependence on imported oil can China achieve long-term stable and rapid development, and only then can the living standards of its citizens continue to improve. Therefore, an oil price of 100 dollars per barrel is good news for us
There’s a shortage of oil even for imports; it’s even worse without imports! It is **impossible for us to get rid of our reliance on imported crude oil right now! It is wrong and impossible for us to rely on prices to control the ratio of domestic oil to imported oil! Our company, like other companies, relies on oil from the Middle East and South Africa; rising oil prices also cause damage to us!