PetroBeam aims to unlock value at the bottom of the oil barrel

The year 2008 was a bloodbath year in terms of oil prices. From a high of $147 a barrel, an all time record in July, the oil price ended the year at around $42 a barrel on average. The International Energy Agency is predicting a return to above $100 a barrel after 2010. Its chief economist Faith Birol said the downward pressure is likely to continue in 2009, but the indication beyond that would be positive as many economists predict a global recovery. Whether oil prices are high or low, it is vital for the good of the world's collective energy future to increase the economic yield from each and every barrel of oil.