[mattduke]

Hear William Clark Discuss Petrodollar Warfare

[DantesPeak]

Excellent, up to date summary of where the Petrodollar stands, especially in relationship to PO .

[BrownDog]

Alternative link, since that one will change weekly then scroll off after about a month:
http://www.financialsense.com/Experts/2006/Clark.html

The interview is good, well worth a listen. I found it interesting that Puplava kept asking questions that seemed to be trying to confirm that PO was indeed happening. I know there's some doubt about when, but I thought Mr. Clark could contribute more on HOW things might play out. Or perhaps things to watch out for that will indicate that the fundamentals are changing. The recent history on which the trend analysis is based, for example, is greatly affected by US Dollar hegemony. But if things evolve as is suggested by Mr. Clark's observations, these trends may no longer apply in the same way.

(as an iside to the interview: I listen to FSN each week, and I know that Puplava is PO aware. At the same time, I don't really hear him talking about the idea that PO will change all the assumptions. For example, in hour 3 of this week's show, he talked about dividend performance going back to the 1920's. It seemed strange to talk about after this interview, since Petrodollar Warfare and PO are going to change things significantly.)

[Petrodollar]

For those who are curious, my interview with a former US State Department was posted today on this website. George Kenney came to my house and we had an informal, hour-long discussion.

Topics included Iran's oil supply, diverge off-path somewhat about the effects of a potential attack, then we get serious about Peak Oil, then Iraq and finally ending with a discussion of Iran's plans for an oil bourse. I hope folks find it interesting... the voice behind the posts...

Interview with William Clark, author of Petrodollar Warfare
http://www.electricpolitics.com/index.html

FWIW: George is also trained in economics, and he does not fully buy-in to Peak Oil, so I think its a fairly balanced discussion on that issue. BTW, he even let me venture off and talk about "ecological economics"

Note: I was wrong on one item when I stated that China's #1 oil supplier was Iran (14%), where I think now that Iran is #2 and that Saudi Arabia at(17%) is their largest supplier. Anyhow, enjoy!

[J-Rod]

Don't mean to be a stickler, but Mr. Clark says that 60% of the worlds oil flows through Hormuz, but from the sources I see, it's more like 25%. Obviously in the grand scheme of things that doesn't matter, 25% will have just as devastating effect on the market as a 60% loss, I would think.

eia.doe.gov

link

one more

$this->bbcode_second_pass_quote('', 'I')n 2003, the vast majority (about 90%) of oil exported from the Persian Gulf transited by tanker through the Strait of Hormuz , located between Oman and Iran. The Strait consists of 2-mile wide channels for inbound and outbound tanker traffic, as well as a 2-mile wide buffer zone. Oil flows through the Strait of Hormuz account for roughly two-fifths of all world traded oil, and closure of the Strait of Hormuz would require use of longer alternate routes (if available) at increased transportation costs.

[Petrodollar]

J-Rod,
Opps, you are right. Today total volume thru the Straits of Hormuz is around 25% or so, but I knew I read that 60% somewhere....and after a re-reading I noticed it was referring to the EIA projections for the year 2025...

$this->bbcode_second_pass_quote('', 'T')he U.S. Energy Information Administration projects that oil tanker traffic through the Straits of Hormuz will rise to about 60 percent of global oil exports by 2025.

[jato]

Great interview!

[Free]

$this->bbcode_second_pass_quote('jato', 'G')reat interview!

[conning]

The story of the petrodollar helps to explain so much of our predicament today. In the leadup to the Iraq war, while trying to understand the underlying reasons for the action, I came across William Clark's explanation of Saddam's switch to the euro. Made the situation so much moe understandable.

I, too, was intrigued with the interview on electricpolitics. When the interviewer responded to William Clark's explanation of peak oil and its economic ramifications with an emotionally charged expression of optmistic faith in our ability to deal with this problem, William very wisely said "we need optimists."

[Petrodollar]

Free & conning,
Thanks for the kind words, glad you found the interview interesting.

[rogerhb]

William Clark on Radio New Zealand's "Nine to Noon"

Here's an interesting gem. Now this is broadcast on National Radio (without adverts!!!) but on a weekday. If this was on TV at 8.30pm people would be having heartattacks. Business people are having enough heartattacks over people doing surveys on "business confidence".

National Radio is like the BBC's Radio Four. They actually rebroadcast a number of BBC programmes (let nations speak unto nations) and also do good analysis on weekend mornings. It is so sad to see(?) Linda Clark being sidelined onto radio and doing important work like this and having vacuous programmes claiming to be news analysis on TV at 7pm.

[GrizzAdams]

Indeed, this is a gem of a program. I thought William Clark described this economic war, well. The part I find most funny is that, this Iranian oil bourse, is huge news, except in the United States.

[Dreamtwister]

$this->bbcode_second_pass_quote('GrizzAdams', 't')his Iranian oil bourse, is huge news, except in the United States.

[Kickinthegob]

$this->bbcode_second_pass_quote('GrizzAdams', 'I')ndeed, this is a gem of a program. I thought William Clark described this economic war, well. The part I find most funny is that, this Iranian oil bourse, is huge news, except in the United States.

[toast]

William Clark updates his thoughts on petrodollars and the three Oil Bourses (Iran, Russian, Chinese).


http://globalresearch.ca/index.php?cont ... cleId=4357

[Petrodollar]

FWIW, I made some minor edits last week to the 53-page essay, and uploaded the most current version to this link:

"Hysteria Over Iran and New Cold War with Russia"
http://www.petrodollarwarfare.com/PDFs/ ... Russia.pdf

Also, I also made a couple of minor edits to my shorter 10-page essay that was posted on energybulletin a couple of weeks ago. For anyone interested, here's the link:

"It's the Energy and the Economy, stupid"
http://www.petrodollarwarfare.com/PDFs/ ... _short.pdf

***

Lastly, as part of my New Year's Resolutions, I wrote several members of Congress who either work on energy issues or advocate changes in current energy policy. I included with the following letter the 10-page essay that is noted above.

Of course I don't expect any responses from my letter(s), but I wanted to state my concerns nonetheless. And I decided to share this letter since toast started a thread with my name (perhaps others may want to write similar letters as well....)


$this->bbcode_second_pass_quote('', 'J')anuary 4, 2006

Senator Jeff Bingaman
Committee on Energy and Natural Resources
364 Dirksen Office Bldg.
Washington, DC 20510

Dear Senator Bingaman:

I hope you enjoyed the Holiday season and the New Year. I have only one desire for 2007: that U.S. policymakers begin to aggressively and openly address what will most likely become the most pressing issue facing our nation, and the world in general – the imminent peak in global oil production (projected to occur around 2010). I have enclosed a 10-page essay that summarizes my concerns as they pertain to the Full Committee Hearing on January 10th regarding the Global Oil Balance. This essay is loosely titled on a 1992 campaign phrase coined by James Carville.

It's the energy and the economy, stupid.

Hopefully you will find this essay informative. Based on the candid analysis of reports prepared for the DoE and DoD; numerous scientific and expert studies by groups such as the Association for the Study of Peak Oil & Gas (ASPO), it is imperative that Democrats, and reality-based Republicans such as Roscoe Bartlett (R-MD), spend 2007-2008 educating the public about these global energy issues while at the same time aggressively pursuing policies directed at full-scale domestic energy reconfiguration (transportation, housing, agriculture, etc.)

Yes, this is a monumental task and the current administration is pursuing the wrong policies pursuant to this goal, however, I suspect that the main theme of the 2008 presidential campaign may ultimately revolve around serious energy and economic issues. As former President Clinton stated in reference to the Peak Oil issue: “we need to get in gear.” That is an understatement.

Indeed, in order for politicians of both major parties to pursue a much needed course correction, the public needs to have a better understanding of the gravity of the global oil and gas situation. In your capacity as the ranking member of the Senate Energy and Natural Resources Committee I implore you to publicly advocate that we as Americans begin the long and difficult journey of reducing our unsustainable consumption of fossil-fuels. This is my only wish of U.S. politicians.

I hope to see big changes in 2007. Good luck and Godspeed.


Warm regards,


William Clark, MBA, MS/ITS, CISSP

[DantesPeak]

Thanks for link to the update.

Tensions with Iran continue to escalate, probably intentionally so, with Iran claiming yet another US drone shot down recently. As far as I know, that is the fifth drone shot down in the last three years – but there may have been others, even US planes, shot down.

There is no doubt that some type of major attack on Iran has been in planning for some time now.

[DantesPeak]

$this->bbcode_second_pass_quote('', '1')1:35 AM ET Jan 24, 2007 SAN FRANCISCO (MarketWatch) --


The fact that Bush "did not make a hard enough warning to Iran over nuclear arming and terrorist training was a relief to the market," he said. "We did not see the President wanting to aggravate the situation."

On the broader political front, tensions between the U.S. and Iran have been intensifying in recent days and analysts have grown worried about further escalation.

"If the President sees Iran taking more of an active role in training terrorists and escalating tensions in Iraq, in addition to proceeding with further developments in a nuclear program the possibilities are open that a U.N. led strike on Iran is possible," said Person.

Gary Dorsch, editor of Global Money Trends newsletter, pointed out an article in London's Daily Telegraph by reporter Con Coughlin which reports North Korea is helping Iran prepare for an underground nuclear test similar to one Pyongyang carried out last year.

If that article is correct, "than attack on Iran is better than a 50-50 [chance] this year, said Dorsch.

[DantesPeak]

deleted double post.

[Petrodollar]

Well, and I have followed this issue fairly closely, and this is first time I have heard of anything about a possible underground test and this mention of North Korea seems strange.... My guess is that Con Coughlin has been fed a piece of disinformation.

$this->bbcode_second_pass_quote('', '[')b]Disinformation, in the context of espionage, military intelligence, and propaganda, is the spreading of deliberately false information to mislead an enemy as to one's position or course of action. It also includes the distortion of true information in such a way as to render it useless.
en.wikipedia.org/wiki/Disinformation