Stacy Summary: Well, the US (and other governments) manipulate every other number, so it’s hardly surprising that they would manipulate the oil numbers. With that, however, I doubt any warning would alter people’s behavior in any meaningful way. As long as the price at the pump stays cheap, then they will not worry. And, luckily for these consumers, the cost of using the military to secure these ‘cheap’ reserves is not reflected in the price at the pump.
The world is much closer to running out of oil than official estimates admit, according to a whistleblower at the International Energy Agency who claims it has been deliberately underplaying a looming shortage for fear of triggering panic buying.
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@s.herbert
Mornin’
So, they kept the declining reserves quiet from the public for fear of panic buying (i.e. a hike in the price at the pump). All the while crossing their fingers behind their backs.
Like there’s not gonna be any panic buying when the truth comes out. Homo Stupidus.
Everything you are being told in the Media (and I am not talking about the traffic accident in your neighborhood) is a lie if there are interests in the high circles to distort the truth so this Oil Peak is just another big lie; it goes hand in hand with the man made Global Warming which later became Climate Change (like the climate was supposed to be always the same?). Check out these website or do more research:
http://www.rense.com/general75/zoil.htm
http://www.engdahl.oilgeopolitics.net/Geopolitics___Eurasia/Peak_Oil___Russia/peak_oil___russia.html
Can’t come soon enough!
Mike
FT.com: Long-dated #oil soaring 10% in 1 mo. close to $100/b, highest since last Oct. http://ow.ly/APLY
Let’s not forget all those Offshore Oil Storage Tankers leased by the investment banks !
Looks like they’re getting desperate.
LOL
Depletion rates in some of these oil fields are 9% per year. The UK is a good example of imcompetence, corruption and mismanagement. Instead of saving this precious resource most countries squandered it. Instant wealth will be followed by instant ruin in the case of the UK, but also places like the Middle East too.
@Marc Authier – Cantarell, the 3rd biggest oil field in the world is declining at over 14% a year
http://bit.ly/1ToQbA
hey Stacy,
how about the latest BP discovery?
the closure of numerous refineries is more of concern.
http://www.youtube.com/watch?v=BkirFmcGjQM
huge oil field discovered in TX but refineries closing so gas prices will jump
Breaking the Myth ” We and our children will not see the day that we are running out of oil ” RTLZ Interview Vid http://videoplayer.neos.nl/fd/index.php?item=1502
Shell CEO: No Oil Shortage (Google trans from Dutch) http://tinyurl.com/y863gsm
BP Makes ‘Giant’ Oil Discovery in Gulf of Mexico http://bit.ly/PKvcE
ALASKA OIL- GAS; “This might be the third largest oil field in the state of Alaska,” http://in.reuters.com/article/rbssEnergyNews/idINN3031538820080530
BRAZIL; Oil Find May Be World’s 3rd Largest http://www.cbsnews.com/stories/2008/04/14/world/main4013564.shtml?source=RSSattr=Business_4013564
Max Keiser on the oil price manipulation in wall street Vid http://tinyurl.com/laazyt
The Tyranny of Oil Vid http://www.youtube.com/watch?v=iYLfCsVfbio
Questions grow over oil spike brokerage http://tinyurl.com/n2xza9
Oil: the Market is the Manipulation http://www.theoildrum.com/node/5606
The Energy Non-Crises Vid http://video.google.com/videoplay?docid=3340274697167011147
Oil firms to store crude on ships as oil tanks http://www.forbes.com/afxnewslimited/feeds/afx/2008/11/20/afx5721298.html
Bloomberg: A fifth of supertankers being used to store #oil are scheduled to deliver their cargoes #commodities http://is.gd/PFF7
Crude Oil, Opec and Super Contango.. http://bit.ly/zjMT9
Oil Is NOT A Fossil Fuel – It Is Abiotic http://www.rense.com/general67/oils.htm
Is it realy a financial oilwar? It has been done before by Kissenger this source says;
http://www.latimes.com/news/printedition/asection/la-fg-shah17-2008oct17,0,7529887.story
NWO Oil Scam – Greg Palast and Alex Jones Part 1
http://www.youtube.com/watch?v=IS-YsE6xByc
@Alex Pop. Great idea – lets believe in a theory from 1950s Russian scientists rather than modern geologists. I have another tip for you: Darwin was wrong, try researching Lysenko.
IEA foresees $100 billion oil investment drop in 2009 http://tinyurl.com/ybe2rq3
Crap dont tell me over all the nonsence happening we have an Oil Shortage .I cant grow food in my Appartment.:-(
A report based on declassified documents suggests that the Nixon and Ford administrations, angry with the shah for his support for raising oil prices, worked to curb his ambitions.
A new report based on previously classified documents suggests that the Nixon and Ford administrations created conditions that helped destabilize Iran in the late 1970s and contributed to the country’s Islamic Revolution. http://tinyurl.com/yjcoffu
Kissinger Calls for Iran Attack if Color Revolution Fails http://tinyurl.com/m4grqr
Ask Mish about gold price manipulation: he flatly denies that the gold price is firmly in the hands of the cartel and ridicules GATA.
Why do governments own gold in the first place? To prop up their own paper currency of course. As gold = money.
Apparently EVERYTHING is manipulated (but not the gold price).
The ‘abiotic’ theory of oil’s origins has been pummeled over and over by scientists, and its chief proponents in the ‘alternative media’ are nutters who’ve never sat in on a course on geology or geophysics even once in their lives. They have no more ability to evaluate the science than a 5 year old has for evaluating quantum physics.
Besides, even if oil was abiotic it is a matter of finding the oil–always! The abiotic nutters don’t even calculate that factor. Do the research for a change and you’ll find out the parameters and limitations of that single component of the oil supply equation.
Btw, what the hell is this here, the Youri Carma Show? Register a domain, rent some server space, and start your own forum.
People who believe in “peak oil” are morons.
@RedZebra
“lets believe in a theory from 1950s Russian scientists rather than modern geologists”
According to “modern geologists” Russia should have NO oil yet they outproduce Saudi Arabia last time I looked. So, genius, who is right: the “modern geologists” or the Russians who drilled where no man dared to drill before?
@Terrorist
so Russian oil is abiotic? Any proof of that?
@RedZebra
Got any proof that oil is “biotic”? The whole premise is bullshit on it’s face. Wake up.
The “proof” is the 10,000,000 barrels per day that Russia produces from sites where oil “should not exist” according to “modern geologists”.
Is that fucking clear enough for you, or should I spell it out?
The Elite control the oil supply. There is plenty of oil as evidenced by gargantuan discoveries in Alaska, Russia, & Brazil. Lindsey Williams, who is in contact with former elite oil CEOs, has a virtually 100% track prediction record from information gleaned from them. Link here for the Lindsey Williams information:
http://www.meetup.com/nyinvestingmeetup/messages/boards/thread/8012594
http://www.youtube.com/watch?v=wQDw9M_2dGw&playnext=1&p=945E0B55C20C73CB&index=3&feature=PlayList&playnext_from=PL&ytsession=KG729LY6QpQU_WFAvVclagdgweMMbrzyq6kvd0J6nBERnLqiRVa9ItA38L4WHyOSSVPx8v8U0zJEtzH9U1ifRoxxqnLUJgtAcYA6-EiRp0DqgKiLUtFIVTB9Nd3em80aNeAVa8cDTEy1n75YM01oUgs6JQ4TR1310MftcflINFMQWgb7rpr3gj2YCS9ku6ypO_aug4S8z7qRDlX8SJZgV5_IAT17X8k-6n3N5V9jhf9Dn8z42Agm2DQZB9VXZpFpfkS8KgGfzJ7HR4WmTyGxbRMQmK_iRdqjAs3JpeGmYk8R9_WecpM7IgOIS_oAbQxfoBJ6ncpTJ1coBAefVQvQpNu-DE52mqhH
@Glenn – there is no such thing as a gargantuan discovery since the 1950’s; nothing comes close to the size of Ghawar; and the only thing that has come near to Bergan or Cantarell (both in double digit annual decline) is many miles off Brazil and many miles below ocean and salt and earth
There are rumours:
http://www.bp.com/genericarticle.do?categoryId=2012968&contentId=7055818
http://www.lundin-petroleum.com/Press/pr_russia_03-07-08_e.html
http://www.phoenix-geophysics.com/news/newsletter/?issue=46?
http://www.hartford-hwp.com/archives/53/073.html
http://www.oilmarketer.co.uk/2007/08/14/china-certifies-biggest-oil-discovery-in-jidong-nanpu/
http://blogs.moneycentral.msn.com/topstocks/archive/2008/04/10/north-dakota-oil-discovery-called-biggest-in-u-s.aspx
@Youri:
Nice link to Kissinger. Goodness, what a loopy interviewer with the eyebrow raising and “thinker” look: a veritable tosser.
Here’s a photo of one of the new Kazakhastan ‘oil players’. He’s not worried about peak oil!
http://www.abc.net.au/atthemovies/img/2006/ep41/borat01.jpg
Damn, when do reach peak propaganda
@WL:
When the real money players reach peak monopoly interest.
@ Shara Palin (Glenn Terrorist whoever else)
Good luck, bury your head in the sand (oil sands please).
The oil finds that you all point to are called giant in the MSM, but are in fact insignificant in economic terms. Secondly, these new finds are extremely expensive.
Now, according to what I have read in various places, peak oil is a reality. All the good quality, easy-to-access oil has been found and is being currently under production. Indeed, there is still oil available, but the extraction and processing costs (in energy) vs. returns are diminishing.
The lower quality oil sources take much more energy input to extract the oil. As the energy required to extract the declining sources increase, the cost of the end product must go up. At some point, we will reach 1:1 and oil will no longer a viable energy resource.
@Gordo@Norkalkid:
I’m not a proponent of coal. I don’t support industrialization. I detest factory-labor-produced goods. I am willing to sacrifice for the environment.
I just don’t want to support Al Gore and his cheesy-buggster train of Corporate OOZE lying about facts and figures and getting Nobels from the real criminals who are set to decimate Africa and Asia. The movement for clean energy has been absconded.
@frances: I was referring only to oil production. Other fossil fuels will not make up the energy difference and I was not even considering them. The industrialized world is totally dependent on cheap oil, and when there is no more, things must and will change. Think: cars, trucks, buses… or anything that need a petroleum product to run.
As my nickname indicates, I am in California, where “coal” is something one might get in a Christmas stocking. But, oh boy, are we dependent on oil, just for transportation.
@Norkalkid:
Well: seems the monopoly interests have us all ‘over a barrel’ one way or another! I think it is a good thing coal is going out: it is not nor ever could be clean. But the carbon credit thingy is absurd. Look at the bureaucracy of the future:
http://www.iea.org/g8/index.asp
In my working life I’ve seen three Oil fields which I have direct experiance in go from 90% oil 10% water to 90% water 10% or less oil.
Peak oil is a fact they ain’t making any more. The abiotic stuff might be real but it will take another billion years or so be for it is economically pooled and drillable.
Also with China and India coming on-line even if the oil production was flat (it ain’t) there are 10x the number of consumers.
@Alex Pop
I’ve read both the articles you provided links to. Thanks for posting them.
It seems that simply questioning Peak Oil theory is incompatible with being green, which is crazy.
My understanding is that total world production has been flat since 2005, with new oil and oil reserves barely replacing the oil from depleted fields such as Cantarell and Ghawar. This is documented at http://www.tsl.uu.se/uhdsg/Publications/GOF_decline_Article.pdf, which is an overview of the decline of the giant oilfields and the effect on overall production. Basically, we’ve found almost all the ‘giant’ fields we’re likely to find, and small fields peak and decline far more rapidly than the big fields.
Of course you won’t see this article picked up in the US, and you surely understand why–most American media is advertiser-supported, and the biggest chunk of revenue is car-and-suburbia related. My local paper has a 100+ page friday supplement that is just about car sales. American msm is far too invested in the car to ever deal with this subject. Sammy’s used cars will be advertising on TV until the last quart of crude pours out of the ground.
which is why I read Max Keiser.
The abiotic oil fantasy is only for morons.
Not only are we using the military to gain hegemonic control of the oil and gas reserves globally, our military is also the largest consumer of said products. So we have a dwindling global reserve, in the midst of being controlled by the largest consumer…so where will the next conflict erupt? I’d guess South America, since we just got the OK from Columbia to build 8 or so bases from which we can strike anywhere in the continent. Watch out Hugo! Then we need to drive the Iranians into some conflict with either Israel (our ME Proxy) or ourselves to control the Number 2 or 3 oil producer into the arms of Mobil/Exxon/BP…And now that we’ve cured the Iraqi’s of any thoughts of self-governance and selling their oil in anything other than dollars and having given the development of their largest oil field to Mobil and friends, we ought to be able to declare victory and leave…for Pakistan and Afghanistan. Oh, the pipelines and poppy fields that need our protection!
Makes you wonder what will end first…our military adventurism or the ability to move the military around the globe using petroleum.
Just as lon as we keep the Chinese and the Ruskies from getting their hands on the Petrolistans (Kaz, Ingush, Pak, Afgh, etc etc)
On a separate thought stream…what if BO had given the 13 trillion to us so we could all put solar panels on our houses, buy hybrids, and get into a more sustainable mode…”think of the places we could go!”