Friday, March 25, 2005

Peak Oil My Ass - More like Peak Profits

The New York Post is running this eye-opener:
HERE'S all you need to know to understand that Americans are getting screwed at the gas pump. The inventory of crude oil in the U.S. right now is 8 percent larger than it was this same week last year. That doesn't include all the oil purchased by Washington and put into the emergency Strategic Petroleum Reserve.

There is 7.5 percent more gasoline in stock right now in this country than during the same week last year. And you'd have to go back to this same week in 1999 to find more gasoline inventory — when the average price at the pump was only $1.01 a gallon. And there's about 10 percent more of all petroleum products in stock today than when the Iraqi war began.

American consumers are being conned by speculators — and a media that doesn't ask enough tough questions — into thinking there is some sort of supply problem.
They sure are being conned. There is a supposed 'shortage' of oil -which we are supposedly running out of anyway. Clearly the shortage is fictional. But equally fictional is the 'Peak Oil' spin --which aims to keep prices permanently at these unjustifiable levels under camoflage of the idea we are 'running out of oil.'

That illusion is artificially engineered by the oil cartel -who are perfectly placed to blind with scientific and financial mumbo-jumbo while simply leaving the oil (of which there is plenty) -in the ground where it can't lower prices.

It's an extremely profitable con. Take a look at ChevronTexaco Corp's 5 year share price. Or see how net profits are doing [(04)13,328.0 (03)7,230.0 (02)1,132.0 (01)3,288.0]. Looking good!

Of course the mainstream media are well bought to keep it all off the radar. But the oil cartel must be really tickled that so-called alternative sources such as Mike Ruppert and Michael Rivero are either pushing, or buying into the 'Peak Oil' hype.

Rivero is running the NY Post item on his site -with scathing comments. But he also linked to a 'Peak Oil' propaganda piece a few days ago -without comment. Time to fully engage critical faculties.


Anonymous Reynard T. Fox said...

Let's stick it back to these monsters--take you vacation at home this summer; visit the tourist spots in your home town. Take mass-transit. Kick them in the bottom line! ;)

9:33 am  
Anonymous John Price said...

This debate about whether or not Peak Oil is a scam is seriously missing an imprtant, the fundamental point.

That is that the growth of the money economy is seriously impacted by oil price rises. The oil companies and governments, through taxes do very well when oil prices rise, but each oil price 'spike' since the 1940's has been followed with a lag by recession.

And whether the Peak Oil issue is being manipulated or has substance, anxiety re future supplies have led to the current oil price rise. Should the rise coninue on its upward path, whatever the reason, we are headed for a doozy or a recession or worse.

No one seems interested in factor in this likehood in current analysis and discourse.

Why? I wonder.

Its very curious.

12:25 pm  
Anonymous Eric said...

The SPR is a big reason why oil prices are high. See here:

Now why would Bush want to push oil prices higher? See here:!1ps8wZ3-OjOqjPko0iFlow6A!325.entry

10:30 pm  

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