By 800,000 barrels a day...... think your payin slot at the pump now? Just wait.
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By 800,000 barrels a day...... think your payin slot at the pump now? Just wait.
Good thing I haven't had a car in 6 years and will never be able to afford one in my lifetime. :P
The price of almost everything else going up as a result of oil price is gonna suck though. :/
666. Explanation to high price of oil and gold (4/28/2011)
Every American feels the hurt of the rising price of gasoline. It accelerates its inflation step from later last year. Here are two news.
Quote:
Oil rises above $90 a barrel in Asia as US crude supply drop suggests demand improving
Alex Kennedy, Associated Press, On Wednesday December 22 (2010)
SINGAPORE (AP) -- Oil prices rose above $90 a barrel Wednesday in Asia after a report showed U.S. crude supplies dropped more than expected for a second week, which suggests demand is improving.
Oil rises above $90 amid US crude supply drop - Yahoo! Finance
In four months, the oil price increases more than 25%. It follows the steps of persecution the Feds applies on me.Quote:
Saudis Slash Oil Output, Say Market Oversupplied
Published: Monday, 18 Apr 2011 | 5:40 By: Reuters
Consumers have urged the exporters' group to pump more crude to put a cap on oil, which surged to more than $127 a barrel this month, its highest level in 2 1/2 years amid unrest in North Africa and the Middle East.
News Headlines
1. From the news we know the high oil price is not out of "supply and demand". It's out of the "speculation". The big bankers manipulate oil price high to save Dollar. (Iran abandoned dollar in oil trading. See ??556. Petro-dollar, the cause of Iran war (7/4/08)?)
2. The high oil price will also justify Iran war. After the war, the oil will return to normal. (Around $30/barrel) Then the media will tell people, "You see. We are right to go war on Iran. So you all can enjoy a low price gas now." So the anti-war mood will be minimized.
3. The plotter used to make money on war crisis. So they accumulate the oil future options to push up the price. Once the war happens, they can make huge profits. (They had done so in 911 attack when they made money in stock option market.)
4. In 2007 and 2008, when there was a plan to war on Iran - the plot was signaled by a B-52 loaded with nuclear missiles flied over US continent, oil had been pushed up to $147/barrel. Now it is in a similar situation.
5. The model will be: False flag terror attack happens in US and European countries.(likely nuclear bombing or dirty bomb attack). It will justify war on Iran because Iran is accused of developing nuclear weapons. During the war crisis, under the propaganda of the media, the price of oil and gold will go up like crazy. That is the time the mastermind to unload their stock (the oil future option and gold) to public.
Iran war plot has been in plan since Bush??s second term. It was delayed again and again because the Feds also project it as a distraction on a framed drug case so I can have the above conclusions through my observation.
Government spread disinformation through their accessary net. But the reality is:Quote:
Originally Posted by Islandborn
Quote:
Saudis often warned U.S. about oil speculators, cables show
By KEVIN G. HALL
McClatchy Newspapers
WASHINGTON --- When oil prices hit a record $147 a barrel in July 2008, the Bush administration leaned on Saudi Arabia to pump more crude in hopes it would drive the price down. The Saudis complied, but not before warning that oil already was plentiful and that Wall Street speculation, not a shortage of oil, was driving up prices.
Saudi Oil Minister Ali al-Naimi even told U.S. Ambassador Ford Fraker that the kingdom would have difficulty finding customers for the additional crude, according to an account laid out in a confidential State Department cable dated Sept. 28, 2008.
"Saudi Arabia can't just put crude out on the market," the cable quotes al-Naimi as saying. Instead, al-Naimi suggested, "speculators bore significant responsibility for the sharp increase in oil prices in the last few years," according to the cable.
Read more: Kansas City's Best Source for News, Weather, Sports & More | KansasCity.com2011/05/25/2903397/saudis-often-warned-us-about-oil.html#ixzz1NUZZj1wk
A news rare found in media. Because that's against the speculators's will. They want make the price high. This kind of news will appear in media after war on Iran. At that time, they want you believe the low oil price is reasonable - though it starts three years ago.
Quote:
Shale Boom in Texas Could Increase U.S. Oil Output
May 27, 2011
CATARINA, Tex. ??
The Texas field, known as the Eagle Ford, is just one of about 20 new onshore oil fields that advocates say could collectively increase the nation??s oil output by 25 percent within a decade ?? without the dangers of drilling in the deep waters of the Gulf of Mexico or the delicate coastal areas off Alaska.
The Eagle Ford, where the first well was drilled only three years ago, is already producing more than 100,000 barrels a day and could reach 420,000 by 2015, almost as much as Ecuador, according to Bentek Energy, a consultancy.
http://www.nytimes.com/2011/05/28/bu...hale.html?_r=2
Green energy is just the distract. The real reason of high oil price is:
556. Petro-dollar, the cause of Iran war (7/4/08)
People think the nuclear ambition of Iran is the reason for Iran war. That is only right on Israel's part. For US part, it is petro-dollar.
US dollar is appointed currency in oil trading. Because the oil trade is a huge business, a large amount of dollar is locked up in that trade. That money is called petro-dollar. Why it is so important to US? Because it acts as a long term none interest loan The prosperous US economy partly was based on the petro-dollar - a long term loan without interest. Let me depict it in this way:
US bought a house from Japan (whom represents the oil customers of Iran) for one million dollars. US also bought another house from France (whom represents other oil customers of OPEC) for one million dollars. Japan and France use these two million dollars as fund to buy oil. The money was used in oil trading circle and never back to US. US enjoys the two houses almost free. He doesn't have to pay monthly mortgage payment. Not a penny for interest, nor for principle. All the cost was the printing of a green back paper. However, that green back paper - petro dollar, is still a debit note. How long is it? So far it's more than forty years - since dollar became the appointed oil trade currency.
But suddenly, Iran refuses to accept dollar. Japan has to ask US to exchange that one million dollar into Euro or yen. What US can do is: 1. to get the dollar back by export more merchandise. But he is not able to. He has a trade deficit already. 2. To get the dollar back with gold or foreign currency reserve. But he hasn't that much reserve. 3. To lock up that extra one million dollar in US Bond by raising the interest rate to attract the buyer. But he unwilling to do it. There is a sub-prime crisis in real estate market. Any interest increase will further devalue the house. Feds holds a large amount of real estates in my case, they don't allow such thing to happen. So to solve the problem, they go to the fourth option. 4. By pushing up the oil price.
France (other oil consumption countries) keeps one million dollar as oil trading fund. How much does he need if the oil price doubled? Two million. Thus the one million dollar Japan abandoned is absorbed by France. That's why the oil price jumped like crazy in recent days - a tricky way to keep US dollar from collapsing.
US has to pay for high oil price too. Ordinary people bear the cost. But the high oil price will hurt the economy. The condition won't last long. So war on Iran is unavoidable.
Of course, US is a "democratic" country. It can't start a war because others refusing to use its currency. Then beware of another 911 style false flag attack.