All Bitumen to be re-priced
From grapeman1212 at Yahoo board:
"This GE technology will cause all Bitumen to be re-priced.
Get ready for it.
How much I do not know, ask Geoff from Norwest."
By Kent Moors, Ph.D.
A new fuel technology – unveiled just two weeks ago – is about to revolutionize the energy business.
I saw it firsthand.
General Electric Co. (NYSE: GE) asked me to present “The Future of Natural Gas” at the company’s Gas Turbine Symposium in Greenville, S.C. That’s where GE revealed a new generation of its market-leading turbine technology.
Most of GE’s major North American power-production end users attended the event. And the proceedings were simulcast to GE research centers in Munich, Bangalore, and Shanghai.
They made a fuss about this new technology for a reason: A change is coming to electricity production – a big one. The power-plant managers, technicians and government observers at the symposium knew this.
A confluence of market conditions, technical advances and politics right now is ushering in the next generation of power stations. The low price of natural gas – combined with the unlocking of unconventional gas production in the United States – is one reason. But the ongoing concerns over the role played by carbon emission caps and trade provisions in pending legislation may be a more pressing consideration.
The U.S. Senate is reviewing the Clean Energy Jobs and American Power Act, better known as the “Climate Bill.” It will no doubt impact coal-powered generation. That, of course, makes gas turbines a more significant energy option.
And GE knows turbines.
Indeed, its turbine center in Greenville is the largest in the world. And the “integrated gasification combined-cycle” (IGCC) technology GE is making now is changing everything.
It’s even creating opportunities for other businesses – companies developing, fabricating and servicing/supplying turbines. They’re becoming compelling targets for investors.
First, here’s why GE’s technology is so significant…
The Energy is Clean and Powerful
IGCC technology is a product of GE’s “ecomagination” overture.
It takes low-value fuel – coal, petroleum coke, extra-heavy oil or bitumen (also called orimulsion), biomass or even municipal waste – and turns it into a high-hydrogen-content gas. The gas is then used as fuel in a turbine system to generate power.
The transition removes fuel sources having a high carbon footprint and replaces them with a less environmentally suspect source of power.
This is huge, since most people in the industry see the writing on the wall.