UPDATE 01 JUN 08: THE ENERGY NON-CRISIS (A MUST SEE PASTOR LINDSEY WILLIAMS VIDEO) You MUST watch this video to understand what is going on right now; to know why the price of gas is $4.00 to $5.00 per gallon, why it will go even higher, and why it could have been just $1.50 per gallon instead.
"A democracy is we the sheeple. A Republic is We The People."
The article below was originally posted to the NEINblog back on 31 March 2008. With respect to where the price of a barrel of oil, regular unleaded gasoline and diesel fuel are on this Memorial Day weekend, as well as where some are predicting where the consumer costs will be come Labor Day, I have decided to bump this report to the top as a refresher.
As a bit of a bonus there is the map above which I just received today via Email.
Another interesting update comes from the POWER LINE Blog of May 23rd. I highly recommend you click on the link to read the entry and view the associated graph.
As was the case of the author, so is the case for myself - I was unaware of these facts about "BIG OIL."
Excerpt:
"I hadn't realized, until the hearings on energy that were held this week in House and Senate committees, that the United States doesn't have any big oil companies. It's true: the largest American oil company, Exxon Mobil, is only the 14th largest in the world, and is dwarfed by the really big oil companies--all owned by foreign governments or government-sponsored monopolies--that dominate the world's oil supply."
***
The national security of the United States of America is tied first and foremost to our energy requirements. These requirements MUST be independent of all foreign entanglements, they must be purely American. There is no legitimate reason why Americans should be paying $3.00 to $3.50 at the pump for regular gasoline while Corporate Oil giants are reaping billions of dollars in pure profits. This simply should not be. It is tantamount to an economic rape of the American consumer and our role in the national economy.
Texas, Oklahoma, Louisiana, the Gulf of Mexico are states which produce a small fraction of our total oil production capability. American reliance on foreign oil imports would end very quickly if our government determined it truly wanted to become energy independent - if YOU really wanted the U.S. to be energy independent. Let's check some quick facts, and then you sound off on how you think we can get the government to do what's best for America.
There are huge reserves in ANWR, according to the U.S. Department of the Interior there are more than 10 billion barrels that could be recovered for consumption and placement into the national strategic reserve. ANWR was set aside for this purpose by a Carter-era Democrat-controlled Congress, but we have yet to seriously tap into the ANWR reserves.
Then there are the American oil shale (kerogen) reserves, on the order of 2,500 gigabarrels, which is the largest known reserve of its kind in the world, enough to power the economy well into the 22nd Century.
And now comes word of the largest oil discovery in the continental U.S. in the last 38 years, enough to boost our already known reserve by a factor of 10. The earth beneath the states of North Dakota, South Dakota and Montana holds what is known as the Bakken Oil Formation. The Bakken Oil Formation holds 500 billion barrels of oil under 200,000 square miles of land. Based upon the information about to be released by the U.S. Geological Survey there is no reason at all for America not to be energy independent in very short order.
NextEneryNews Report
America is sitting on top of a super massive 200 billion barrel Oil Field that could potentially make America Energy Independent and until now has largely gone unnoticed. Thanks to new technology the Bakken Formation in North Dakota could boost America’s Oil reserves by an incredible 10 times, giving western economies the trump card against OPEC’s short squeeze on oil supply and making Iranian and Venezuelan threats of disrupted supply irrelevant.
In the next 30 days the USGS (U.S. Geological Survey) will release a new report giving an accurate resource assessment of the Bakken Oil Formation that covers North Dakota and portions of South Dakota and Montana. With new horizontal drilling technology it is believed that from 175 to 500 billion barrels of recoverable oil are held in this 200,000 square mile reserve that was initially discovered in 1951. The USGS did an initial study back in 1999 that estimated 400 billion recoverable barrels were present but with prices bottoming out at $10 a barrel back then the report was dismissed because of the higher cost of horizontal drilling techniques that would be needed, estimated at $20-$40 a barrel.
It was not until 2007, when EOG Resources of Texas started a frenzy when they drilled a single well in Parshal N.D. that is expected to yield 700,000 barrels of oil that real excitement and money started to flow in North Dakota. Marathon Oil is investing $1.5 billion and drilling 300 new wells in what is expected to be one of the greatest booms in Oil discovery since Oil was discovered in Saudi Arabia in 1938.
The US imported about 14 million barrels of Oil per day in 2007 , which means US consumers sent about $340 Billion Dollars over seas building palaces in Dubai and propping up unfriendly regimes around the World, if 200 billion barrels of oil at $90 a barrel are recovered in the high plains the added wealth to the US economy would be $18 Trillion Dollars which would go a long way in stabilizing the US trade deficit and could cut the cost of oil in half in the long run.
Texas, Oklahoma, Louisiana, the Gulf of Mexico are states which produce a small fraction of our total oil production capability. American reliance on foreign oil imports would end very quickly if our government determined it truly wanted to become energy independent - if YOU really wanted the U.S. to be energy independent. Let's check some quick facts, and then you sound off on how you think we can get the government to do what's best for America.
There are huge reserves in ANWR, according to the U.S. Department of the Interior there are more than 10 billion barrels that could be recovered for consumption and placement into the national strategic reserve. ANWR was set aside for this purpose by a Carter-era Democrat-controlled Congress, but we have yet to seriously tap into the ANWR reserves.
Then there are the American oil shale (kerogen) reserves, on the order of 2,500 gigabarrels, which is the largest known reserve of its kind in the world, enough to power the economy well into the 22nd Century.
And now comes word of the largest oil discovery in the continental U.S. in the last 38 years, enough to boost our already known reserve by a factor of 10. The earth beneath the states of North Dakota, South Dakota and Montana holds what is known as the Bakken Oil Formation. The Bakken Oil Formation holds 500 billion barrels of oil under 200,000 square miles of land. Based upon the information about to be released by the U.S. Geological Survey there is no reason at all for America not to be energy independent in very short order.
NextEneryNews Report
America is sitting on top of a super massive 200 billion barrel Oil Field that could potentially make America Energy Independent and until now has largely gone unnoticed. Thanks to new technology the Bakken Formation in North Dakota could boost America’s Oil reserves by an incredible 10 times, giving western economies the trump card against OPEC’s short squeeze on oil supply and making Iranian and Venezuelan threats of disrupted supply irrelevant.
In the next 30 days the USGS (U.S. Geological Survey) will release a new report giving an accurate resource assessment of the Bakken Oil Formation that covers North Dakota and portions of South Dakota and Montana. With new horizontal drilling technology it is believed that from 175 to 500 billion barrels of recoverable oil are held in this 200,000 square mile reserve that was initially discovered in 1951. The USGS did an initial study back in 1999 that estimated 400 billion recoverable barrels were present but with prices bottoming out at $10 a barrel back then the report was dismissed because of the higher cost of horizontal drilling techniques that would be needed, estimated at $20-$40 a barrel.
It was not until 2007, when EOG Resources of Texas started a frenzy when they drilled a single well in Parshal N.D. that is expected to yield 700,000 barrels of oil that real excitement and money started to flow in North Dakota. Marathon Oil is investing $1.5 billion and drilling 300 new wells in what is expected to be one of the greatest booms in Oil discovery since Oil was discovered in Saudi Arabia in 1938.
The US imported about 14 million barrels of Oil per day in 2007 , which means US consumers sent about $340 Billion Dollars over seas building palaces in Dubai and propping up unfriendly regimes around the World, if 200 billion barrels of oil at $90 a barrel are recovered in the high plains the added wealth to the US economy would be $18 Trillion Dollars which would go a long way in stabilizing the US trade deficit and could cut the cost of oil in half in the long run.
41 comments:
Boy this is timely. I've been extremely curious about this very issue lately. I'm sure I'm far from alone as I pull my truck up to the pump and fill it with diesel at $4 per gallon. I think if I ever actually met the executives of the domestic oil companies, the ones who keep reporting record profits at our expense, that I'd really have to restrain myself.
What I can't figure out is why the American public is so silent on this issue. If we know of significant in-the-ground reserves in Colorado oil shale, ANWR and the Bakken territory, we should demand the safe and efficient extraction of these reserves. The technology is available so environmentalists need not worry.
What politically is keeping our leaders and the oil companies from allowing the drilling? My fear is that political agendas have nothing to do with this issue, but money (aka profit) is the great anti-motivator.
Great blog. Keep it up.
The other end of this is the ones who have the royalties to the wells. price of oil is up but our checks are down cause they choked back production. So I know we getting paid less but pay more like the rest. I have to agree about the pump hurt but if I had a diesel, I might be thinking of selling it and get a grass fed horse. lol.
Seriously though, it is about time we found more here at home.
armyman said...
price of oil is up but our checks are down cause they choked back production.
That's a huge issue. No one's built a new refinery since the Marathan Ashland's Garyville, La., plant— that's 32 years ago. How pathetic is that? We've needed additional production capacity for decades. I guess lack of production capability allows for greater ability at price control. I'm no economist though.
Oh I know, and then wasn't there a merge with Texaco and Saudi Oil Company about 7 years ago that was to put a new plant in Port Auther Texas? But yes 32 years. That is why there is also some failures in joints and all the plant problems in Texas City. On top of the terror attacks and upped security. I see them using more Condensates than the crude oil but that has even slowed down. Almost like, "Buy overseas and use theirs up first." I know, I know, another soap box. LOL.
The plant in Port Arthur wasn't new. They expanded their current facilities. With all the evironmental regulations it would take 10+ years to build a new refining facility. A study for this and study for that, OH!!! and don't forget the left wing enviornmentalist going to the courts to stoop it.
If corporate oil is so concerned why aren't they funneling all profits in drilling and exploration. I understand they are a business and need to show a profit, but where is the their consumer/community responsibility. Greed is where it is!!!!
Hopefully with this new field in the next several years we will see ourselves completely independent of foreign oil. But, realisically, I can't see any adminstration doing that. What would the Saudi's say? (that stament was dripping with sarcasm.
What it comes down to is we need to take back our Nation from these politicians that are selling us the proverbial crapper. If we don't watch it we will be a thrid world nation on 20 years.
Rich timm,
Wow you are generous. I was thinking alot faster than 20 years. Hillary wants to take the profits from the private Oil Business and fund her projects. Which I believe is illegal. Government taking money from Private business. And you are right about Port Arther. That was why I had the question mark. It was in the plans and when the sale went thr or something or other. I was keeping up with it only because they were suppose to build a new barge dock but that never happened. Like you said, to many enviromentalists. I know I had a run in with Green Peace one year when all I was trying to do was get IFO (International Fuel Oil) for a ship in Port Arther just up by the bridge. Oh well, many MANY years ago.
By the way, Welcome Mark.
The US could be completely energy independent if it wanted to. In addition to what was mentioned in the article, there is yet to be untapped oil off of the west coast. The Gulf Coast also houses huge reserves. Technology in drilling is now able to drill miles and miles deep to extract.
To boot, if you look up abiotic theory, and apply it to North America, the US and Canada could very well be sitting on the motherload of all motherloads in energy.
However, who will be drilling it first, us as Americans? Or those plotting our demise...the Russians and Chi-comms. I always said the Russians will be drilling in Alaska before we ever did.
Anon said...
I always said the Russians will be drilling in Alaska before we ever did.
I wonder what happened to the Russians claim to the North Pole and all of its resources? That seemed to drop from media coverage like a lead balloon. It seems they have set their sites on reserves close to the US with nary a cry of foul on our part.
You're cursing the oil companies for the profit margin - I understand they _clear_ .08 per gallon. Big whoop. We pay nearly .60 in taxes on each gallon. If you really want the price of gas to drop, tell Congress to lower the federal taxes - .40 per gallon. That's what you call _pure_ profit! No investment, no costs, just skim the dollars off the top.
>>Which I believe is illegal. Government taking money from Private business.>>
Yeah right. Unless they call it taxes.
While this is definitely a big discovery, the upcoming USGS report is unlikely to give an estimate of 175-500 billion recoverable barrels, as the article stated. Those figures, which come from previous studies, are oil in place, not recoverable oil. A likely figure from the USGS should be about 50-100 billion barrels recoverable - which is nevertheless still a nice number. Of course with improved technology that number could go up.
In response to christopherco, there have been no new refineries built in the US in decades, but there have been many *expansions* of exiting refineries. It doesn't matter how you add capacity, as long as you add it. An expansion of an existing refinery is just as good as a brand new one. At any rate there are a couple plans for new refineries, most notably one proposed in South Dakota which would process oil from Canada's tar sands.
Anonymous said...
“The Middle East nations were created & designed by Britain & the US to be controllable. Saudi Arabia was strategically chosen to be our main source of oil and Kuwait was broken off from Iraq for that purpose also. Iraqi & Iranian oil production has been limited by whatever measures possible ever since the end of WWII, including CIA black operations, regime changes, the war between Iraq & Iran, Gulf Wars 1 & 2, and sanctions. The Israeli/Arab conflicts have more to do with the price of oil than religion, land grabbing or anything else. Why is there no pipeline through Lebanon & Syria to Iraq? Answer - Israel paid billions of US taxpayer dollars to prevent it. You may think I'm nuts but after the Oil Embargo there was so much oil exploration that it drove the prices DOWN.”
If I am to understand what you are saying, you are saying that British and the USA made the Middle East so we can have their Oil? If that is true, then explain how there was the Crusades during the middle Ages? You are also saying that Israel bought the rights to NOT run a pipeline into another country that is not theirs? That is insane. Lebanon wants Israel dead as much as Iran and Syria does. The Arab/Israeli War, Lebanon was part of Syria NOT Israel and during the five year war never invaded Israel. That war was just like the other wars in that area. It is Muslim trying to destroy the Jews. It is about the land that one Arab thinks he owns over a Jewish Country. The British and the USA were being attacked in Beirut because we were westerners. Not because of the Oil. That was a War between the PLO, Syria and Israel. Our Embassies were attacked because we support Israel. But that is another discussion.
The rights to oil Profits from privately own Corporations is not the right of the Government to take. That violates free trade. Oil and Gas is a commodity. It is something that is in demand by all. The oil companies are privately owned and publicly traded as in stocks. Like Texaco who is now merged with Chevron and Conaco Corp. is publicly traded on the New York Stock Exchange under COP. Exxon was created by a Private American named John D. Rockefeller. Shell started out being owned by the Royal Dutch Shell Company and are now 50/50 owned by Saudi Aramco in Port Arthur, Texas. Governments may tax the public but do not have the right to go into a private business and just take their profits. If people don’t like Oil companies making all the profit then don’t by oil, or open your own oil company and sell it for millions also. Or go out and create a better way for energy. Clinton tried saying this before that she was going to take the profits of the oil companies and fund health care. Well that is like saying she is going into a private business like McDonalds and taking their profits And use it to fund healthcare. It is a private business. Oil Companies are regulated by the Energy Department and prices are controlled by OPEC and the Arabs who we buy from. We just found all the Shale Oil in the Bakken Formation in North Dakota. Prices would drop if we did stop buying from other countries, yes but don’t get caught up in the oil problem when we are talking about the Israelis being threatened of total extinction just because they are Jewish. How would you like it if a group of people wanted to kill you just because your last name is Smith? Not that you are a bad person or that you pray one way or another but because your last name. That is what is about to happen to Israel. All these Arabic Muslims want to kill us because we are not Muslim. Period. That is the only reason. We were dragged into their war because, like stated before, Russia left and they had no one else to fight with.
The War on Terrorism is about Islamic Radicals wanting to Kill Americans, Westerners and spreading Islamic Law to CONTROL THE WORLD. This Article is about finding new Oil sources to get away from Importing Terror Oil.
Armyman's rebuttal to the anonymous conspiracy lunatic entry will remain, but that post itself is a goner. It was yet another in the "blame the West first" category, and a thinly veiled anti-American tirade overall. No room for such lunacy on this blog. As clearly stated before - such commentary will be deleted on sight. Such lunatics have ample bytespace around the WWW to post that nonsense. This blog ain't one of 'em.
This report is confirmed accurate - as prices at the pump have long since eclipsed the $3.00-$3.50 range. We're well on our way to $4.00-$4.50 per gallon of unleaded, with predictions of prices this fall averaging about $6.50 per gallon.
We The People are being raped by the politcians in Washington, D.C. and our State legislatures.
What I am curious to find out is exactly where the upper threshold limit of public toleration turns to violence. I may be wrong in my guess, but I don't see the status quo taking us to the polling booths in November without a serious outbreak of violent discontent.
None dare call it a "New American Revolution" to take our nation back from the inept politicians?
At the prices now I am finding it hard to make ends meet. If estimations are correct it will be cheaper for me to buy ammo and tennis shoes to go with my combat boots, cause driving is going to be for emergency only.
an interesting option
bty the inventor has had his life threatened
and was offered 1 billion cash to forget and bury the idea and the invention
by who????? Saudi Arabia
http://waterfueledsystems.net/homepage.html
I amnd my comments to say that the U.S. consumer is being raped by our own federal and state govern ments as well as foreign "big oil."
Since July 2006, the price of diesel has almost doubled. I paid $4.49/gal on Friday.
These prices are really starting to hurt blue collar workers.
Beyond balancing my checkbook, I have little grasp of world economics.
I'm all for free enterprise, and I don't like government involvement.
But man oh man, something needs to change.
Then again, Germany was paying $2.00/gal a long time ago.
I firmly believe oil prices are being used as a tool. To what end, I'm not sure - other than our demise. Whether it be internally or externally motivated is yet to be seen.
I’m thoroughly disgusted with the entire situation…
This is getting more serious by the day. I drive about 90 miles a day to work. That equates to over $300 a month for gasoline. It's getting painful. Moving or changing jobs isn't really an option with a near depressed economy in Colorado. Looked at motorcycles yesterday...55 mpg.
If it‘s any consolation, I just heard Sec Rice state on the Wall Street Journal (CNBC) that President Bush has been working on a “comprehensive energy program” since he took office.
Granted, he can’t do it alone, but sheesh…
THANK YOU for this info! I'll send it around to my list.
My theory for what it's worth...
She who ends up with the last known oil reserves, wins.
Perhaps that's the "real" why we're not drilling.
On the other hand, what the heck are we waiting for?
My other rant: I WANT one of those silly looking air compressed vehicles. I want one bad. REAL bad.
Even though I've had a Prius since 2001, I want far better mileage. My 2001 met an early demise, and I almost did as well. That beauty got 75, that's right, 75 mpg in town, 55 highway.
Second Prius I bought used, and I think the bonehead that bought it thought they could jump in and get higher mileage. (You have to learn where the cars sweet spots are.) I'm only getting 45 mpg and totally disgusted with that. That said, it's better than most other cars today for gas mileage.
In my mind, if we could go to the moon with what was then pretty pathetic technology, NO ONE can tell me we can't get to the point of energy independence if we have a mind to do it.
Perhaps $10/gal gas will get our "can do" spirit back. Something has to or we're screwed.
Sean Said
"None dare call it a "New American Revolution" to take our nation back from the inept politicians?"
We are on the brink of just this. The stability of the dollar is still falling, the cost of everything is skyrocketing, not just fuel/oil.
We elect our officials on their platforms and when they do not do as they said, all we do is complain about it. We don't hold their feet to the fire.
The British were doing the same things to our founding fathers and the citizens of this new country.
As they say in the military, maybe it time for "Back to Basics" of 1773 and ignite the spark to take our country back.
Rich
Taking profits from private companies is too close to communism for me. I was watching a documentary a few weeks ago that was supposed to be one of those "what if" scenarios. If you really wanted to do America damage beyond anything we can imagine think about this...currently, our enemies pretty much control the oil (and please don't think that Saudi Arabia is an ally)...our dollar is dropping daily...fuel prices sky-rocketing. What is going to happen when we get to 9 or 10 dollar-a-gallon gas? Civil unrest, hysteria, violence...that would be a pretty good time for these jihadists to launch different types of attacks here.
Now I'm not a conspiracy theorist, but that was something worth thinking about.
Bottom line...we need to quit paying farmers NOT to grow crops we could use as bio-fuels, we need to drill in Anwar, we need to drill in the Atlantic...China already is...we also need to build new refineries, drill in the Gulf, off the West Coast, and in the huge reserves in Wyoming and the upper Mid-West.
My two cents...
Backstop wrote:
"I firmly believe oil prices are being used as a tool. To what end, I'm not sure - other than our demise. Whether it be internally or externally motivated is yet to be seen."
Backstop,
I think you nailed it while being noncommittal on who is nailing us.
Yes, I believe oil is a weapon being used to bring America down.
Who is wielding this weapon?
The globalist elite in foreign "big oil" and their American bedfellows in the congressional democrat socialist elite who prevent the development of our self-sufficiency.
Then also the republicans - RINO's mostly - did nothing while they held sway in congress for a decade.
Our elected leaders have failed us, and are now allowing us to be raped.
Time to throw all the bums out.
You know what man?
Today, I'm officially pissed.
Diesel prices have doubled since July 2006 (when I bought my truck).
"Sean: Then also the republicans - RINO's mostly - did nothing while they held sway in congress for a decade."
I've been thinking about this most of the day, and your quote above is almost exactly what I was gonna say.
Our government has had YEARS to solve this dilemma we're in now.
Yet they did nothing.
And now, we're being bent over a 55 gallon drum of oil and...well, you know.
And there's not a freaking thing we can do. Other than TRY to vote the b*st*rds out of office, write letters, etc.
All you politicians reading this should be absolutely ashamed of yourselves.
Backstop said...
"Sean: Then also the republicans - RINO's mostly - did nothing while they held sway in congress for a decade."
I've been thinking about this most of the day, and your quote above is almost exactly what I was gonna say.
Our government has had YEARS to solve this dilemma we're in now.
Yet they did nothing. Nothing.
Backstop, as far as I am concerned you are exactly right, my brother, exactly right!!!
The U.S. Congress did JACK-DIDDLEY-SQUAT for decades while providing all manner of buffalo chip consistency sound-bytes about everything under the sun - EXCEPT FOR THEIR OWN INACTION TO CONFRONT THIS ISSUE HEAD-ON MORE THAN JUST A COUPLE OF YEARS AGO!!!
Yes, you're absolutely right Backstop -- "They did nothing."
War for oil?
The fodder of lunatics and useful idiots, unfortunately.
It's much, much bigger than that hollow leftist crock of nonsense of a coule years prior to the present.
What are we - the American electorate - over-ripe turnips who just fell off the truck and burst upon impact with the road being travelled?
Some of you bozo's are or maybe as described, but not us!
Not me. That's for sure.
I don't want to be the harbinger of bad news, but, when a certain elite beholding to no one in particular, excepting of course the Liberal-Leftist Democrats themselves who may or may not world control of currency rates, the majority of major U.S. bank CEOs and CFOs. The currency and the fuel we need to surive - what do you call that kind of a situation?
Economic Dictatorship?
Yeah, roger that.
Sounds like Daniel's prophetic description in the making to me.
When I was in high school, it was quite common for many of the male graduates to go work in the oil fields to earn money for their education, nest egg, what have you. As a Texan, I saw the oil bust completely decimate entire cities. As a child, I loved seeing the oil rigs working across the plains. Now those rigs are but skeletons and a reminder of how self sufficient we once were.
The oil companies ARE in it for the money. I do believe that is called business! If a company does not make a profit, it is not in business for long. Heaven help us if the libs are allowed to get their hands on those companies and their profits! They already pay out the nose for taxes and environmental studies and upgrades for the environmantalists!
As I drive through East Texas, where my father lives, I pass through the ghost towns of former booming oil cities.
The oil is still out there!
Many of our oil fields are simply... idle.
The oil did not just vanish!
It became unprofitable to continue drilling operations, as the Arabs were lowballing the oil prices at the time, so we stopped producing our own oil due to taking in the glut of oil being produced by foreign, mainly OPEC nations.
At the same time the EPA and enviro-weenies started screaming shrilly and got the attention of the liberals who were gung - ho about cleaning the air for the children's sake.
My grandfather worked for Humble oil in Baytown Texas, before it became Exxon. My brother currently works at one of the major refineries down in the Houston area.
We discuss, on a fairly regular basis, the new environmental regulations which have all but crippled many of the refineries to deliberately prevent them from expanding and forcing them to turn to manufacturing other products to stay afloat.
Can you imagine the hue and cry from the enviro-weenies, should the oil companies finally decide that our own ability to produce AND refine our own oil was more important than appeasing OPEC?
Of course, no one wants a refinery in their own back yard, but they have to be somewhere! New refineries must be built, before we can even consider being less dependent on the foreign oil pirates.
OPEC nations still account for two-thirds of the world's oil reserves, and, as of March 2008, 35.6% of the world's oil production, affording them considerable control over the global market. Now, there are 13 major players in OPEC.
Of these thirteen countries that are the base of OPEC: Algeria, Angola, Ecuador, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and Venezuela, honestly, how many of these countries are truly our allies?
We are being played, certainly, in more ways than one. How in the heck do we get out of the OPEC mess and start rebuilding our own infrastructure to regain that self reliance we once had?
Melissa In Texas
"Sean said: Sounds like Daniel's prophetic description in the making to me."
Man, if things keep progressing in like form, I welcome any and all Divine Intervention. Bring it on.
The writing on the wall is almost legible, and I don't like the tale.
This planet needs a good house cleaning.
Sean, I think you know me well enough to know that I'm not a Major Tinfoiler.
But coupling the failure of ANY Administration to do anything meaningful with our borders, the fact so many jobs have been outsourced, and now this outrageous oil situation, I'm almost convinced the U.S. is being "Globalized."
Backstop said...
"But coupling the failure of ANY Administration to do anything meaningful with our borders, the fact so many jobs have been outsourced, and now this outrageous oil situation, I'm almost convinced the U.S. is being "Globalized.""
Backstop,
If you will set aside 1 hour and 15 minutes to watch the entire video I linked as the new Update to this entry - I virtually guarantee that you will be convinced that the comment you made above has been proven to you, and it will be Baptist Pastor Lindsey Williams who will have proven it to you in the video recording he made just about 7 months ago.
I say the same to everyone reading this comment - it will be proven to you in 1 hour and 15 minutes.
I just watched the entire video this evening. I am convinced.
This video will blow your socks off like NOTHING you have ever experienced in a video presentation before.
Watch it. You will be stunned to the core.
Sean,
I finished watching the video with Pastor Williams last night. The bottom line seems to be that oil prices are completely controlled by an organization operating between the oil producing nations and the oil companies. This organization(s) is setting the price of crude worldwide. That, also, there are massive quantities of oil still in the ground (I believe this as well and we've talked about it in above conversations) and that these huge reserves are not being tapped and distributed as a means to control the world economy. This effectively controls all people of the world. The superficial self within me doesn't want to believe this scenario. However, the pragmatic and rational side realizes that everything that Pastor Williams spoke of lines up with current reality. It's freaky, man.
Holy freaking cow.
I watched that video 2 nights in a row, and I'm just plain astounded.
The knee-jerk part of me says, "Yeah right...did Alex Jones finance that?"
The more rational side says, "Well that certainly explains a few things."
I'm kinda at a loss for words...the implications are almost beyond comment.
It's not as much about supply and demand as it is about speculators, hedge fund managers, and investment bankers that have been allowed by our government to drive up the price through unregulated trading. A speculator is only required to put up 6% of the purchase price of an oil futures contract on the NYMEX.
Now, this is basic supply and demand: Through this 16-1 leveraging, more money becomes available to invest in oil futures, which means the value of a dollar relative to a barrel of oil declines. Thus you need more dollars to buy each barrel.
Speculation may now make up about 60% of the cost of a barrel of oil. The problem isn't ExxonMobil, Saudi Arabia, or the Chinese. It's Goldman Sachs, JP Morgan Chase, Morgan Stanley, Citi, and their ilk.
OK I watched the video. Now I am just speechless. As the Pastor put it, the "Middleman" put the President in office, controls Congress and controls the WORLD. They put people in position to either be the bad guy, take the fall when it goes bad, or become the hero. TOTAL CONTROL of everything. MAKING our vote worthless. Making MY FREEDOM benign. I am just speechless. This is totally against the Constitution but how does one fight this? OK I have to admit, WE JUST GOT NAILED.
Hi Sam,
Could you provide a link to the thread where you posted that video? I’d like to see what other folks are saying about it.
If the facts in that video are true, I’m absolutely disgusted.
I didn’t spend time in the military to be manipulated like this.
I know people who are now having trouble putting food on the table because of this.
This absolutely needs a much greater audience - as in everyone in the U.S. deserves the chance to come to their own conclusion about this.
No problem Backstop. The link is here:
http://allsidespoliticalforums.com/2sides/index.php?topic=6953.0
Be warned, the first post in that thread is a LONG one, but it explains what I think all the connections are in oil, housing, banking, etc.
When I first saw this video I had to let it sink in a couple days, then suddenly it clicked and was like a major piece of the puzzle giving me a better overall picture of what is going on.
BTW, manipulated or not, thanks for your service!
ChristopherCO,
The adage "he who has the gold makes the rules" appears to myself to be a fact which directly applies to the current world reality, and a world reality that is in the process of emerging. It is a reality which is serverely less than free and which controls millions by economic means.
Now, the questions I would ask people are:
If the above adage is indeed a statement of fact relative to our current world (globalization, et al) - then:
A.) What is the sum effect of this fact upon American national sovereignty?
B.) What is the logical course of action (COA) to reassert American national sovereignty?
Oh, and by the way, let's recall what Anonymous wrote on April 1st:
"The US could be completely energy independent if it wanted to."
No doubt about it.
Backstop,
Yep, you had the same initial reaction as did I. And, in fact, as I began to dig deeper into this the numerous write-ups that led me to the Rense website were initially raising some significant and serious "conspiracy kook" red-flags.
However, other research and things I have recieved from very reputable sources dating to long before Lindsey Williams came along put my more at ease and able to accept, and finally convince me that Lindsey is telling either telling us the "real deal" or a very significant portion thereof.
Everybody,
I just returned home from a quick road trip to Providence, Rhode Island. At a gas station there I found a sticker which itemized the taxes on each gallon of gasoline (which was priced at $4.02 9/10).
Federal gas tax is uniform across the nation @ 18.4 cents per gallon.
Rhose Island state tax was 31 cents making the total tax 49.4 cents. The cost of the gas without taxes would be about $3.53
Find your state gas and other local gas taxes at this link I stumbled across in researching this subject.
Apply these taxes to what Lindsey Williams stated the price of gasoline should be $1.50 per gallon - makes it about a dollar per galon, right?
Did somebody say something about economic rape?
Derek,
I looked at oil futures on a very reputable source. It's $127ish per barrel now. This price is static looking forward to the year 2015. I find that to be incredible.
Hi Sam, glad to see you here!
Thanks Sean, glad to be here!
I agree with you about Rense raising tinfoil red flags. Certainly anything posted there should be suspect.
I take it the LW video was posted there?
Regardless, I have other much more reputable sources that have information with seems to dovetail with what LW is saying. One, in particular, is an options trading website: http://www.tickerforum.org/cgi-ticker/akcs-www
The owner is rather crass in his language, but he is dead on with respect to a lot of things going on economically. However, my strong impression is that he is not a Christian, and thus, either cannot grasp the full implications, or refuses to believe them.
If anyone wants to understand how our economy is really working and have a better understanding of what is going on, I'd suggest checking out the link and reading up as much as you can over there.
I don't agree with it all, but those guys are more "in the know" economically than the vast majority of people, so valuable insight can be gained.
This is the website that I believe first broke the news about the "Bin Laden" S&P bets on the market crashing last August.
It has taken me the better part of 6 months reading there to just get up to speed on my economic knowledge to start seeing the bigger picture, so don't expect to figure it out all at once if you are on the economics short bus like me!
By the way, here is a blog that would be very good reading to understand what an absolute economic mess we are in right now.
Those who are aware should be able to see what potential future implications this has and be able to figure out the connections to oil.
It's long, but worth it:
http://market-ticker.denninger.net/
Sam,
Thanks for taking the time to here and the link. It will take some time for me to read/research this topic. Not to mention the fact that I must’ve been thrown under the economic short bus at birth; economics seem so abstract to me.
-----------------------------------------------
Sean,
18.4 + 44.4 (Texas diesel) = 62.8 cents per gallon.
Assuming for a minute this scenario is completely true, we have the government taxing us into oblivion (fuel tax) while we have the means to become fossil fuel independent from the world at our finger tips, yet its existence remains almost secret.
“Economic rape?”
Man, you are way too kind.
As far as I'm concerned, this falls into the category of highest crimes against the U.S.
Might as well call Webster and have the word “sovereign” struck from his next printing.
Does anyone know if this story has been forwarded to someone like Glenn Beck, etc?
China is doing it.
Please explain to me why we aren’t.
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[url]http://www.cnsnews.com/ViewPolitics.asp?Page=/Politics/archive/200806/POL20080611e.html[/url]
China's Drilling for Oil in America's Backyard, Republicans Say
By Susan Jones
CNSNews.com Senior Editor
June 11, 2008
(CNSNews.com) - House Republicans want the American people to know that right now -- around 60 miles off the coast of Key West, Fla. -- China is drilling for oil, thanks to a lease issued by Cuba.
But 1,200 miles north of Key West, Democrats in Washington are blocking the United States from conducting its own environmentally-safe oil and gas exploration in similar U.S. coastal areas, said a news release from House Republican leader John Boehner's office.
"By prohibiting the United States from taking part in the same type of energy exploration that the Chinese are conducting just miles off our shores, the Democratic Majority on Capitol Hill continues to prove itself complicit in an energy crisis that has saddled American families and small businesses with gas prices that have reached $4.05 per gallon today," the news release said.
"Do congressional Democrats actually believe China has more ingenuity and more concern for the environment than the United States?" Republicans asked.
On Wednesday, the U.S. Energy Department said gasoline prices are expected to remain close to $4 a gallon through 2009.
Republicans are pushing an energy plan that would expand domestic oil exploration and production; encourage the opening of new American oil refineries; and invest in alternative energy sources such as wind, nuclear, and captured carbon dioxide.
Drill here, drill now
In a related story, a group that advocates domestic oil drilling says it has gathered more than half a million signatures on a 'Drill Here, Drill Now, Pay Less' petition.
The group American Solutions for Winning the Future, chaired by former House Speaker Newt Gingrich, says it launched the petition drive a few weeks ago.
The petition reads: "We, therefore, the undersigned citizens of the United States, petition the U.S. Congress to act immediately to lower gasoline prices (and diesel and other fuel prices) by authorizing the exploration of proven energy reserves to reduce our dependence on foreign energy sources from unstable countries."
"Hard-working American families are struggling to pay the soaring prices for gas, diesel, food, electricity, and everything else affected by the high price of oil," said Dave Ryan, American Solutions' executive director. "The voices of more than half a million Americans are united in demanding that Congress offer real solutions to our energy challenges, starting with taking immediate action to drill here and drill now."
American Solutions said it plans to deliver 3 million signatures to both parties at their national conventions.
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This comment has been modified to remove the referenced forum.
Sam said...
Hi everyone. I'm glad to see that Sean posted this video here. I originally posted it on another forum to get his take and I am glad to see that I am not alone in what I believe the implications of this is. It truly stuns me.
I think there are a lot more connections to international banking than people realize. It's more than just oil. Oil is, of course, the biggest though because without it the world comes to a screeching halt, but this banking control permeates everything.
I believe what is currently going on with the housing crisis and our economy is also related.
However, I don't want to go into too much detail here. This format is difficult for me to post with. What forums do the regular posters here use to discuss this stuff?
I have a thread at -- REDACTED --discussing this. I would love to see more responses if people want to add their input over there.
June 5, 2008 2:41 PM
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