The world is running out of oil. Peak Oil is a reality, all that is open to debate is how fast production will drop off, and how quickly the world will simply run out of oil. The lack of certainty is due to the fact that (as with everything else) we can’t trust the “official” numbers fed to us, with respect to either global production or global reserves.
Numbers supplied by Saudi Arabia’s corrupt monarchy have been regarded with deep suspicion, for many years, based on inconsistencies in the numbers themselves, and the high degree of secrecy within the Saudi oil industry. More recently; the massive conspiracy with respect to U.S. “shale oil” has now been exposed, with actual supply being as little as 4% of the fantastic “reserves” claimed by the Shale Charlatans.
What does it mean when we live in a world of diminishing (oil) supply, and seemingly inexhaustible (oil) demand? It means this is the classic “sellers’ market”. That is fact #1.
Fact #2 is the brazen admission by the U.S.’s puppet-president, Barack Obama, that the U.S. government (or rather its banker Masters) has been deliberately manipulating oil prices lower, as “part of its strategy” of economic terrorism against Russia. This is outrageous, on multiple levels.
1) The matter-of-fact manner in which Barack Obama acknowledged this market manipulation epitomizes the crime syndicate mentality of the U.S. regime, and the other puppet regimes of the West under the direct control of the One Bank. Absolutely no respect for the Rule of Law.
2) In a world of vanishing oil; it is recklessly irresponsible to manipulate oil prices lower, since under-pricing anything inevitably stimulates over-consumption. The fastest way to squander our remaining stockpiles of oil (obviously) is to put them “on sale”.
3) The fact that this fascist government now openly engages in unilateral acts of economic terrorism against other nations proves that internationally, the United States is now a pariah regime.
Equally outrageous is the lack of response to the reckless economic terrorism of the United States, specifically the lack of response by many of the world’s largest oil-producing nations. In particular; noteworthy for their absolute lack of response are the OPEC nations – and Canada.
What is the appropriate response of any oil-producing nation, upon learning that the U.S. is (deliberately) driving-down oil prices, effectively stealing the oil production of these oil-producing nations, and thus perpetrating its economic terrorism against them, as well? The response is as obvious as it is simple. Cut off supply.
Indeed, this was the entire raison d’être for the creation of OPEC: uniting Arab oil producers so that they gave themselves the option of “turning off the taps” if oil prices weren’t high enough. Clearly when a Rogue Regime publicly proclaims that it has manipulated oil prices 50% lower as a deliberate act of economic terrorism, then prices cannot be “high enough”.
Yet with the 21st century governments of most OPEC regimes now mere sock-puppets of the U.S.’s own puppet-regime, we have all the OPEC Puppets pretending they are powerless. Then there is Canada. Canada’s Prime Minister, Stephen Harper, has also been guilty of perpetrating economic terrorism, and it also involves the manipulation of oil prices.
The obvious difference is that Stephen Harper’s victims are his own people. It is Canadians who have been callously exploited with Harper’s treasonous “energy policy”. What is Harper’s policy on energy? Giving awayas much of it as possible, as fast as possible, to his own beloved Master, the U.S. government.
In a sellers’ market; Stephen Harper recklessly ramped-up production of Canada’s tar sands oil – the ‘dirtiest’ oil on the planet – and then immediately began giving away all this oil, to the U.S., at a 1/3rddiscount versus prevailing ‘spot’ prices (as much as $40/barrel below prevailing prices). The excuse given by the Harper regime for squandering Canada’s oil reserves is as inept as Harper himself.
The “reason” Canada’s oil is being sold for less than anywhere else on the planet is because (supposedly) there is a lack of refining facilities to process this particular type of crude. We know this is a lie. How? Because Stephen Harper (fortunately) doesn’t run Canada’s government all by himself. He has advisors.
What would have happened as Harper began recklessly ramping-up tar sands production? His advisors would have posed two questions to this Traitor. To whom are you going to sell all this oil? Where will it berefined?
When the Harper regime realized it had no answers (at all) to these questions, any honest government would have immediately adopted one or all of the following policies:
1) Lined-up all its customers for this precious commodity, in advance, with long-term contracts.
2) Ensured that it had constructed its own refining facilities, to eliminate the current, feeble excuse given by the Harper regime.
3) Scaled-back tar sands production until it had satisfactory answers to those two, ultra-obvious questions.
While the economic incompetence of Harper and his Conservative regime is legendary; not even the Conservatives could be so utterly clueless as to fail to ask themselves those two, obvious questions. And once realizing they had no answers to those questions; the appropriate policy responses are as obvious as the questions themselves.
Canada’s oil give-away (to the U.S.) is obvious treason, and it raises another obvious question. With the U.S.’s pariah government having knocked $50/barrel off of the price of oil, and with Canada previously selling its oil at the give-away price of roughly $60/barrel (i.e. before the U.S. economic terrorism); how much is the U.S. paying today for Canadian oil? Put another way; how much is Canada losing on every barrel of oil it gives-away to the U.S.? Is the U.S. paying anything, at all?
With tar sands oil costing between $60 – $100 per barrel to extract; Canada was already losing money on its tar sands oil before Barak Obama (and the bankers) launched their economic terrorism on the oil market. Apart from the obvious strategic reasons to cut-off Canadian oil production (until prices are once again at least quasi-legitimate); the Canadian economy cannot afford to lose this much money, giving away the world’s most-precious commodity. Harper’s treason has now descended into outright economic insanity.
Barack Obama’s brazen admission that the U.S. is perpetrating economic terrorism against (primarily) Russia, via attacking the global oil market, has revealed two things to the world. First it has shown that the U.S. has now publicly/officially adopted the philosophy of government-by-crime-syndicate (i.e. fascism).
Equally obvious; it has revealed the governments of the Puppet Producers for what they really are. These governments who are stewards of most of the world’s precious, remaining stockpiles of oil not only cannot be trusted to administer this responsibility in the best interests of humanity, these ultra-corrupt regimes cannot even be trusted to represent the interests of their own populations.
There are two (new) enormou crimes currently being committed within the global community. One of those crimes is the (latest) economic terrorism being perpetrated by the U.S. – meaning the latest economic terrorism perpetrated by its puppet-master, the One Bank.
The other, gigantic crime is the treasonous manner in which the Puppet Producers are (literally) “selling out” their own people. The economic terrorism of the U.S. is obviously the larger crime in terms of sheer magnitude. But the despicable manner in which the Puppet Producers are betraying their own people is arguably the worst of the two crimes.
Plantagenet on Mon, 2nd Mar 2015 9:49 pm
1. Peak Oil is not yet a reality. Maybe someday, but it isn’t here yet.
2. Oil production is not falling off—it continues to slowly increase.
3. Obama never admitted the US is “committing economic terrorism.
This author is totally deluded.
Dave T on Mon, 2nd Mar 2015 10:00 pm
Peak conventional oil has been a reality for a number of years, 72-76 million bbls per day. Crude and condensate extraction have increased per barrel but with lower overall energy density at about 91+ million. Obama and company all know what time it is. Welcome to the age of limits, featuring “peak oil” as our headliner.
Plantagenet on Mon, 2nd Mar 2015 10:59 pm
Peak oil isn’t about “peak conventional oil”. Peak Oil is defined as the moment when global oil production reaches its maximum point.
We aren’t quite there yet.
Folks who think peak oil happened in 2005 don’t understand what peak oil is.
GregT on Mon, 2nd Mar 2015 11:21 pm
Peak conventional oil has occurred already. Those that are incapable of understanding peak oil dynamics, foolishly believe that we are in an oil glut. The damage done already to our economies will never be repaired. We are already on the downslope of post peak oil.
Plantagenet on Mon, 2nd Mar 2015 11:26 pm
1. Of course we’re in an oil glut. The price of oil has plummeted by 50%.
2. The EIA projects global oil production in 2015 will slightly exceed oil production in 2014. That proves we are not post peak oil as you imagine.
Cheers!
GregT on Mon, 2nd Mar 2015 11:42 pm
Oil prices are still over 200% higher than they were only ten short years ago, and 300% of historical non recessionary prices going back over a 130 year period.
Anyone who ignores this is an ignorant fool, or just a simple lil planter troll.
The oil age will not end for lack of oil, it will end when our economies can no longer afford the stuff that we can pump out of the ground.
The only thing that the ‘volume’ of oil proves, is that some people are simply incapable of understanding complex systems.
Aire on Tue, 3rd Mar 2015 1:36 am
Well said GregT
No matter what you say though Mr. Plan-tard will never concede. And technically he could be considered right.. and wrong at the same time. One thing is pretty certain .. that we are on a plateau. Whether you call it a peak or not is irrelevant. Soon enough we will be using less energy and oil in particular. Just like this article and many others try to point out. Plant does seem to be trolling at time but here on this issue, he truly does seem to buy into the oil glut. But even in his own words he admitted “slowly growing”. In other words, even we record investment in exploration, we have slowly managed to up production compared with the past. In my book, that counts as peak oil… prolonging this facade will only likely make mankind’s fall from the peak faster and harder to survive.
Amvet on Tue, 3rd Mar 2015 6:26 am
We avoided having peak oil simply by changing the definition of crude oil. The lulu of dishonesty is claiming tha refinery molecular expansion is crude oil production.
Mark Ziegler on Tue, 3rd Mar 2015 8:38 am
Give shale oil about 10 years time and watch it deplete. Now think how long that is in geological time.
viewcrafters
marko on Tue, 3rd Mar 2015 9:10 am
I agree with greg and dave, but I think the comment section would be very boring without plant
Revi on Tue, 3rd Mar 2015 9:22 am
We might hit peak oil by anybody’s measure later this year. Then the real fun begins.
Pveroi on Tue, 3rd Mar 2015 11:05 am
As a Canadian myself I totally understand the authors disdain for PMHarper. Unfortunately, Harper is actually Bush’s lackey (although of course he also US corporate lackey) he is really a neocon.
Please don’t let the crazy right wingers win another election. Please! I have enough friends now missing limbs because people can’t wrap their heads around peak oil. This stuff is actually important.
rockman on Tue, 3rd Mar 2015 8:38 pm
“Give shale oil about 10 years time and watch it deplete.” If the US rig counts drops as low as I suspect it will you won’t need to wait 10 years. Watch for the 1Q 2016 numbers when they reveal the 2015 shale activity…or lack there of.
“We avoided having peak oil simply by changing the definition of crude oil.” True but they can reclassify diet Sprite as oil and push the date of PO years into the future. But that won’t change what’s really important: the POD.