FORT LAUDERDALE, Fla., May 21, 2009 (GLOBE NEWSWIRE) -- EnerBrite Technologies Group, Inc. (Pink Sheets:ETGG), an operating oil and gas production company along with its wholly owned subsidiary Rebel Oil Company, has concluded that world oil demand will significantly increase in the future. This justifies the Company's fundamental business strategy of increasing production of its 76 existing oil wells and acquiring additional existing wells in the same geographic area.
Some fundamentals have been adjusted, but still hold true overall. The planet's population is expected to grow by 50 percent to nine billion by sometime in the middle of the century. They will be requiring housing and place new demands on energy consumption. The number of cars and trucks is projected to nearly double in 30 years to over two billion vehicles as developing nations rapidly modernize. And twice as many passenger jetliners, over 36,000, could be in the skies within the next 20 years.
These factors demand a lot more oil and natural gas with some predictions showing global oil consumption increasing as much as 35 percent by the year 2030. Overall, producers will somehow have to find and pump the equivalent of an additional 11 billion barrels of oil every year. And this demand is growing even now.
EnerBrite Technologies Group views itself as part of the solution and believes that its business model will help the United States to break the dependence on foreign oil. "We believe we can be part of the solution to our domestic energy needs while at the same time building value for our shareholders," said Jack L. Stapleton, President.
About EnerBrite Technologies Group, Inc.
Headquartered in Fort Lauderdale, FL, EnerBrite Technologies Group, Inc., through its wholly owned subsidiary Rebel Oil Company, Inc., is engaged in the acquisition, exploration and development of oil and natural gas properties, with primary focus on properties in eastern Kentucky. The Company is a growing independent energy company with an experienced operating company with technological expertise to exploit existing oil reserves and exploratory natural gas resources on its properties in eastern Kentucky.
Forward-Looking Statement
Certain statements in this news release, which are not historical facts, are forward-looking statements. These statements are subject to risk and uncertainties. Words such as "expects," "intends," "plans," "may," "could," "should," "anticipates," "likely," "believes" and words of similar import also identify forward-looking statements. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management. Actual results may differ materially from those currently anticipated due to a number of factors which may be beyond the reasonable control of EnerBrite Technologies Group, including, but not limited to, the availability and pricing of additional capital to finance operations, including the longer term drilling programs and additional leasehold acquisitions, the viability of the oil and gas fields in eastern Kentucky, the ability of EnerBrite Technologies to build and maintain a successful operations infrastructure and to effectively develop producing oil wells, the successful negotiation and execution of cost-effective third-party gas drilling and distribution agreements for exploratory natural gas wells, the continued commitment of operators, future economic conditions and the volatility in energy prices. Readers are urged not to place undue reliance on the forward-looking statements, which speak only as of the date of this release. We assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release. Additional information on risks and other factors that may affect the business and financial results of EnerBrite Technologies Group can be found in the filing of EnerBrite Technologies Group with the Pink Sheets Electronic OTC Markets.