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Old March 21st, 2008 #1
Alex Linder
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Shell exec says world not running out of oil
President of U.S. operations questions predictions of peak theorists
Posted: March 20, 2008
10:00 pm Eastern

By Jerome R. Corsi
© 2008 WorldNetDaily

Shell U.S. President John Hofmeister
John Hofmeister, the Houston-based president of Shell Oil's U.S. operations, expressed doubt about the validity of peak oil theory in an appearance on CNBC's Squawk Box show.

"The peak oil theory has really swamped the world. God bless Matt Simmons," Hofmeister told CNBC anchor Carl Quintanilla, according to a transcript provided to WND by CNBC. "His assumptions are correct based on his hypotheses, but his hypotheses are too narrow."

Matt Simmons, a Houston-based investment banker who specializes in the energy industry, is widely known for his 2005 book, "Twilight in the Desert: The Coming Saudi Oil Shock and the World Economy," in which he analyzed oil depletion data from Saudi Arabian wells.

The peak oil theory argues the world's oil resources are finite and will be completely exhausted at a future date.

Simmons, one of the most vocal and visible of the peak oil advocates in the industry today, has also been a frequent television guest arguing that the world is running out of oil.

In a recent YouTube.com-archived appearance on Bloomberg TV, Simmons argued the world has hit peak oil now, predicting prices as high as $300 a barrel

The peak oil theory, first espoused by Shell Oil geoscientist M. King Hubbert in 1956, has come under increasing criticism in recent years, as repeated predictions of world oil depletion have failed to match empirical data documenting increasing reserves.

For instance, data produced by the U.S. Department of Energy's Energy Information Administration currently shows 1.3 trillion barrels of proven oil reserves worldwide, more than ever in recorded history, despite a doubling in world oil consumption since the 1970s.

In what has become a contentious worldwide debate over whether peak oil is fact or fiction, Simmons dismisses statistics that are not consistent with his depletion models.

The Energy Information Administration "has been as inept at forecasting oil outlook in both production and prices as anyone," Simmons told WND in an e-mail, "yet so few ever remember their awful forecasts."

Hofmeister explained to the CNBC audience why he believed Simmons' hypotheses were too narrow.

"In other words, Simmons is looking at conventional oil only," Hofmeister said. "In the industry, we look at unconventional oil as well."

Unconventional oil is a reference to oil that is not found as crude oil in reservoirs contained in sedimentary rock layers just below the surface of the earth.

An example of unconventional oil is the oil sands in Alberta, Canada, from which oil is produced.

When President Bush took office on Jan. 20, 2001, the price of oil was approximately $24 a barrel, too low for the oil sands to be converted to oil economically.

But now, with the price of oil hovering near $100 a barrel, conversion of the oil sands has become economically feasible. Canada has become the largest supplier of foreign oil to the U.S., supplying the U.S. with more than 70 million barrels of oil a day, according to current EIA statistics.

Hofmeister also questioned whether Simmons' models accurately estimated the probability of new discoveries of previously unknown oil reserves.

"Simmons is also basing his conclusions on a particular study of one country, Saudi Arabia, while there are a whole lot of other reservoirs around the world we're still discovering," Hofmeister continued. "Some day we will peak, but not because we don't have enough oil."

For instance, WND recently reportedBrazil's announcement of the discovery of a new ultra-deep offshore oil field in the Atlantic Ocean, containing an estimated 5 to 8 billion barrels of oil, enough to expand the country's proven reserves by 40 to 50 percent.

Again, Simmons is dismissive.

"The great Brazil find, as best laid out in the February issue of World Oil, is a great example of a handful of extremely expensive, rank wildcat wells finding at least traces of hydrocarbons," he said.

"But until scores of other wells are both flow-tested and also cored, there is no solid idea of how much oil might ever be recovered," he continued. "Given the severe deepwater rig shortage, it might take a decade or more to genuinely test the Santos Basin."

"I would be delighted to be wrong on all this," Simmons wrote, "but too much hard data is too specific, and the optimist case is all faith-based theories."

Brazil disagrees with Simmons' pessimistic outlook.

Sergio Gabrielli, the chief executive officer of the state-run oil firm Petroleo Brasileiro SA claims the new find off the coast of Brazil may contain as much as 80 billions barrels in oil reserves which Brazil is moving to commercially exploit and further explore right now.

Simmons' pessimistic focus on oil depletion statistics are today being contested, even by traditional oil industry experts such as Daniel Yergin and his Cambridge Energy Research Associates, or CERA, in Cambridge, Mass.

"This is the fifth time that the world is said to be running out of oil," Yergin says in industry speeches. "Each time, technology and the opening of new frontier areas has banished the specter of decline. There's no reason to think that technology is finished this time."

Yergin came to world fame in the oil industry with the publication in 1991 of his now-classic book, "The Prize: The Epic Quest for Oil, Money & Power."

A Jan 18 press release on the CERA website presents additional data questioning one of Simmons' key assumptions.

In a study that examined oil depletion data from 811 separate oil fields accounting for about two-thirds of current global production and half of the total proved and probable conventional oil reserve base, CERA concluded the aggregate global decline rate is 4.5 percent, not the 8 percent cited in many studies.

The study, drawing from a source CERA described as "the most extensive field production database in the world," demonstrated lower decline rates in recent years due to better reservoir management practices and the impact of new technology.

CERA concluded the new data means "no near-term peak oil" is likely, directly countering the predictions of peak oil advocates such as Simmons.

Finally, as WND recently reported, new scientific discoveries have produced important evidence supporting the abiotic theory of the origin of oil.

Scientists have recently reported abiotic liquid hydrocarbons exuding from the mantle of the earth in fissures such as the Lost City Hydrothermal Field on the bottom of the Atlantic Ocean and abundant abiotic liquid methane found on Titan, the giant moon of Saturn, as found by the Cassini-Huygens mission jointly launched by NASA, the European Space Agency and the Italian Space Agency.

Traditional petro-geologists have maintained that oil is biological in origin, arising from organic material deposited in sedimentary soil.

The organic theory of the origin of oil has served as a logical underpinning of the tautology at the heart of the peak oil theory.

Only a finite amount of biological material was deposited in sedimentary soil capable of forming oil, so there has to be a finite amount of oil.

The abiotic theory suggests oil is formed naturally in the mantle of the earth by chemical reactions such as are described in the Fisher-Tropsch equations the Nazis developed to make synthetic oil from coal prior to World War II.

The abiotic theory would suggest more deep-earth discoveries of oil should be forthcoming, especially with new technology to find and recover cost-effectively offshore oil.

With more than 70 percent of the earth covered by water, much previously unexplored territory remains to be explored for oil, as ultra-deep drilling technology continues to progress.

http://worldnetdaily.com/index.php?f...w&pageId=59502
 
Old March 21st, 2008 #2
albion
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Old March 21st, 2008 #3
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OK, so peak oil is a "scam" because of abiotic theory?

There is strong abiotic theory -- which means oil will always gush out of the earth like crazy. None of the geologists propounding abiotic oil believe in "strong abiotic."

All abiotic geologists believe in "weak abiotic theory," which says that the oil can be replenished in geological time -- 1,000 years, 10,000 years, 10 million years.

In short, not quick enough to bring down the price of gasoline.

Also, Alex, I know you believe in good faith debate. Good faith debate means agreeing on definitions of terms, and sticking with those definitions. Here's my definition of Peak Oil, and why it's a problem:

The Maximum Rate of Production of Oil, during which production rate experiences a "bumpy plateau" for a time, then production falls off a cliff.

The Peak Oil theory has held up for every oil well and every oil producing region. The most prominent example is US production. The United States peaked in 1971 at 10 million barrels a day, and now we are down to 5 mbd.

There will always be some oil -- it's not a problem of running out.

The real problem is the growth economy. Let me repeat that.

The real problem with Peak Oil is the growth economy.

Our whole society, our whole civilization, requires continual economic growth to sustain itself. This means we always need more fuel to burn, more widgets to make, more people to buy those widgets and race around in them or use them to blow away leaves or whatever.

After the Global Maximum Oil Production is reached, and then goes into decline, bye bye growth economy, and therefore bye bye civilization as we know it, barring a KILL OFF of billions of people.

A kill off could save the growth economy (temporarily) by setting the clock back to the population of, say, 1950. With a global population of 2 billion, we could live on a mere 70 mbd, maybe less!

Let's just hope that most of those 2 billion or so survivors are honkies like us!
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Old March 26th, 2008 #4
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[I don't see a problem. Oil is cheaper than milk. Known reserves are larger than ever. New technology is developing daily. New discoveries like the one below happen all the time. In short, I see nothing the market can't respond to.]

Potential Oil Discovery at the Maricopa Project

Highlights

· The Wellington Maricopa #6 well has been successfully drilled to a total depth of 3,550 feet.

· Electric logs indicate a potential oil pay of approximately 130 feet in the primary Contact Sand objective.

· The well is being prepared for production testing.

http://newsstore.smh.com.au/apps/pre...GCA00826097SGY
 
Old March 26th, 2008 #5
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[All I see is bright Whites out there kicking ass, far as the eye can see.]

Gas field could be most vital discovery

Chesapeake Energy Corp. hinted Tuesday that its unconventional natural gas field in Louisiana unveiled this week has a chance to be its most significant find and likely "the most important operational announcement in the company's 19-year history.”

Aubrey McClendon, chairman and chief executive of Chesapeake, talked about the find during a morning conference call with investment analysts.

McClendon called the Louisiana find in the Haynesville Shale "major” and said his company estimates it holds at least 7.5 trillion cubic feet equivalent of natural gas and perhaps as much as 20 trillion cubic feet equivalent.

To give some perspective to that number, consider this: The company's reported proved reserves in the Barnett Shale at the end of 2007 were just more than 2 trillion cubic feet equivalent.

"We have tried hard during the past two years to keep our work on this new play secret, and we were successful until the last month or so, when other companies started to release information,” McClendon said.

http://newsok.com/article/3220806/1206506469
 
Old March 26th, 2008 #6
Alex Linder
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I see no reason to be endtimistic when it comes to any mineral or resource. The unfortunate news is we're not going to be done in by the things bruited in the press but by the things the press suppresses.
 
Old March 26th, 2008 #7
Kievsky
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Well, look where the price of a barrel of oil is. Over 100 a barrel, an all time high.

All that happy news about discoveries and reserves hasn't brought the price back down to 30 a barrel.
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Old March 27th, 2008 #8
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Peak Oil?
Posted by Lew Rockwell at March 27, 2008 08:53 AM

Writes Matt Machaj: "The Polish currency was much sounder in recent years than the dollar

"It might be fun to see how the price of oil changed as supposingly 'peak oil' came in.

"In 2006 when oil was traded at 75 dolar per barrel, the dollar was worth 3.1 zlotys. This gives us the price of 232 zlotys per barrel.

"Today a barrel is worth 105 dollars, but the dollar is worth 2.25 zlotys. This gives us the price of 236,25 zlotys per barrel.

"In dollars the price of oil rose by 40%. In zlotys by 1.7%.

"Please tell me - is it peak oil or anti-peak fiat money?"

UPDATE from Matt: "Since Polish zlotys are also a fiat currency, subject to inflation, maybe it is worthwhile to consult other prices.

The price of a barrel of oil in:

Gold: 2006 - 0.125 of an ounce; today 0.111 ounce. Oil is 12.6% cheaper in terms of gold.

Silver: 2006 - 6 ounces; today 5.77. Oil is 3.99% cheaper in silver.

Platinum: 2006 - 0.0682 of an ounce; today 0.0525. Oil is 30% cheaper in platinum.

"I would love to see the price for oil expressed in apples."
 
Old March 27th, 2008 #9
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Quote:
Originally Posted by Alex Linder View Post
"I would love to see the price for oil expressed in apples."
That obviously varies from region to region, fruit prices are very localized, but if you'd invested in apple trees here, rather than oil, you'd have a few more cents in your pocket after the last two years, and I can't believe I could actually answer that question, considering it wasn't even serious, but you can make the stats say anything.

If you compare the price from around 1981, which was about the $70 mark, and take into account inflation, then the price now is actually low.

If you compare the price from around the 1860/70's, which was around $80, and take into account inflation, then they are almost giving it away today.

If you compare the price from about 1998, about $12, and take into account inflation, then it looks very scary.

Oil is a very volatile market.
 
Old March 29th, 2008 #10
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Quote:
Originally Posted by Alex Linder View Post
[I don't see a problem. Oil is cheaper than milk. ]
The entire U.S. economy isn't powered by cheap milk. American oil production peaked in 1970. It has steadily fallen since then. This is a major problem because the more oil we import from OPEC, the more we cede pricing power to them, and now with the growth of China and India the Arabs can always sell their product to Asians, which is why the price of oil has doubled since 2004.

Quote:
Known reserves are larger than ever.
That doesn't mean those reserves will go to the United States or that they are comparable to the "easy oil" that has been wasted.

Quote:
New technology is developing daily. New discoveries like the one below happen all the time. In short, I see nothing the market can't respond to.]
The free market collapsed into dust in mid-March; bankrupted by subprime mortgages, CDOs, and over-the-counter derivatives. The Federal Reserve has now pumped over half a trillion dollars into the banking system. Also, the free market responded to the oil shock of the 1970s by creating SUVs and more suburban sprawl than ever before.
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Old March 29th, 2008 #11
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Quote:
Originally Posted by Alex Linder View Post
"It might be fun to see how the price of oil changed as supposingly 'peak oil' came in.
The chaos in oil prices isn't being caused by Peak Oil, although it has the potential to give us a preview. No, the mischief can be traced back to the "structured finance" ponzi scheme and the laissez-faire capitalism of the last two decades.

Regulation of financial markets was relaxed under Reagan, Bush Sr., Clinton, and W. which allowed all these exotic new securities to be created. This culminated in 1999 with the repeal of the Depression-era Glass-Steagall Act. Decades of offshoring has blown up the trade deficit which has systematically undermined the dollar. Real wages stagnated and predictably the savings rate declined and millions of Americans went into debt. This is exactly what happened in the Roaring Twenties.

Conservatives have spent the last fifty years trying to take us back to the Hoovervilles and margin calls. It looks like they may finally get their wish.
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Old March 29th, 2008 #12
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Oil is a speculative commodity that is sold on the world market. In a nutshell, it's simply a case of supply and demand. Both India and China, now becoming industrialized, is causing an increasing demand for oil. The recent rise in gas prices is more due to falling dollar, however.
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Old April 1st, 2008 #13
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The principal problem with most of these vast "discoveries" is seldom discussed:
EROEI (Energy Returned on Energy Invested)
It's not something that can be overcome with money.
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Old April 1st, 2008 #14
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Quote:
Originally Posted by Jim Crowe View Post
Oil is a speculative commodity that is sold on the world market. In a nutshell, it's simply a case of supply and demand. Both India and China, now becoming industrialized, is causing an increasing demand for oil. The recent rise in gas prices is more due to falling dollar, however.

I hope you are being sarcastic.
 
Old April 2nd, 2008 #15
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Quote:
Originally Posted by Jett Rink View Post
I hope you are being sarcastic.
No. In what sense is what I stated inaccurate?
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Old April 2nd, 2008 #16
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Quote:
Originally Posted by Jim Crowe View Post
Oil is a speculative commodity that is sold on the world market. In a nutshell, it's simply a case of supply and demand. Both India and China, now becoming industrialized, is causing an increasing demand for oil. The recent rise in gas prices is more due to falling dollar, however.
CAMBRIDGE , Mass. (March 19, 2008) – “The new fundamentals”—global financial dynamics and new cost structures—are driving the momentum that pushed oil prices to record highs around $110 a barrel, well ahead of what had been the previous inflation-adjusted record high of $103.59 set in April 1980, according to Cambridge Energy Research Associates (CERA), an IHS company.

“Oil has become the ‘new gold’—a financial asset in which investors seek refuge as inflation rises and the dollar weakens,” said Daniel Yergin, chairman of CERA and executive vice president of IHS. “The credit crisis has been fueling the flight to oil and other commodities, and that will last until the dollar strengthens or the recession becomes more pronounced.”

“Shortages of equipment and personnel are dramatically raising the cost of developing an oil field,” said James Burkhard, managing director, Global Oil Group at CERA, citing the latest IHS/CERA Capital Cost Index, which shows a doubling of oil field costs over the last three years. “Adding to this pressure is increasingly heavy fiscal terms on oil investments in the form of higher taxes and greater state participation in oil projects. The net result is much higher oil prices are needed to support development of new oil supplies.

“These financial and cost structure dynamics are new in the sense that they were not strong forces in determining the oil price in the 1990s and even earlier this decade,” he continued. “The ‘old fundamentals’—the balance between demand and supply—still matter, but it is these new factors that are the driving force behind the record high.”

“Today, the falling demand for dollars is just as important as the rising demand for oil in determining the oil price,” said Yergin.

Press release continues
 
Old April 2nd, 2008 #17
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Peak Oil Theory – “World Running Out of Oil Soon” – Is Faulty; Could Distort Policy & Energy Debate

Correct Model for Post-2030 Oil Supply is Undulating Plateau

In contrast to a widely discussed theory that world oil production will soon reach a peak and go into sharp decline, a new analysis of the subject by Cambridge Energy Research Associates (CERA) finds that the remaining global oil resource base is actually 3.74 trillion barrels -- three times as large as the 1.2 trillion barrels estimated by the theory’s proponents -- and that the “peak oil” argument is based on faulty analysis which could, if accepted, distort critical policy and investment decisions and cloud the debate over the energy future.

Complete Press Release

CAMBRIDGE, Mass., November 14, 2006 – In contrast to a widely discussed theory that world oil production will soon reach a peak and go into sharp decline, a new analysis of the subject by Cambridge Energy Research Associates (CERA) finds that the remaining global oil resource base is actually 3.74 trillion barrels -- three times as large as the 1.2 trillion barrels estimated by the theory’s proponents -- and that the “peak oil” argument is based on faulty analysis which could, if accepted, distort critical policy and investment decisions and cloud the debate over the energy future.

“The global resource base of conventional and unconventional oils, including historical production of 1.08 trillion barrels and yet-to-be-produced resources, is 4.82 trillion barrels and likely to grow,” CERA Director of Oil Industry Activity Peter M. Jackson writes in Why the Peak Oil Theory Falls Down: Myths, Legends, and the Future of Oil Resources. The CERA projection is based on the firm’s analysis of fields currently in production and those yet-to-be produced or discovered.

“The ‘peak oil’ theory causes confusion and can lead to inappropriate actions and turn attention away from the real issues,” Jackson observes. “Oil is too critical to the global economy to allow fear to replace careful analysis about the very real challenges with delivering liquid fuels to meet the needs of growing economies. This is a very important debate, and as such it deserves a rational and measured discourse.”

“This is the fifth time that the world is said to be running out of oil,” says CERA Chairman Daniel Yergin. “Each time -- whether it was the ‘gasoline famine’ at the end of WWI or the ‘permanent shortage’ of the 1970s -- technology and the opening of new frontier areas has banished the specter of decline. There’s no reason to think that technology is finished this time.”

The report emphasizes the importance of focusing on the critical issues. “It is not helpful to couch the debate in terms of a superficial analysis of reservoir constraints. It will be aboveground factors such as geopolitics, conflict, economics and technology that will dictate the outcome.” The report also points to such aboveground questions as timing and openness to investment, infrastructure development, and the impact of technological change on demand for oil.



Continues
 
Old April 6th, 2008 #18
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I think that the Peak Oil theory is essentially correct. Kievsky made an important observation. It doesn't matter, insofar as the economic or ecological arguments are concerned, whether oil is a biological residue or whether it is abiotic in origin. The significant fact for these purposes is that it does not replenish at anything close to the speed at which we use it. Therefore, we are not in a steady state situation, but rather we are in a drawdown situation, and sooner or later the deposits will be diminished to the point beyond which they will have no more practical utility.

That point, as Dennis Lawrence noted, occurs when the energy needed to extract a barrel of oil, refine it, and transport its products to the end user, exceeds the energy contained in a barrel of oil. After that moment, oil is no longer a net energy resource, but is an energy sink. In order there to be any advantage in trying to use it, the EROEI (Energy Returned On Energy Invested) for oil must be greater than one.

I believe that oil is a biological residue of very prehistoric plants, that its chemical potential energy is derived from sunshine via photosynthesis. I also suspect that any methane dissolved in the Earth's mantle would react with oxygen or oxygen bearing minerals to form CO2, water, and other more oxidized compounds. When a volcano outgases, you don't observe copious quantities of methane; rather, you can observe that a large fraction of it is carbon dioxide, as might be expected from chemistry. But whether my opinion on this matter is correct or not, it is certainly correct that there exists for our practical purposes a fixed supply of oil, and when we have used it all, we will be short on energy, as well as on such important derivatives of oil as artificial fertilizer, pesticides, plastics, and so on, and suffering from the loss of a readily transportable (because fluid) high-energy density resource.

"When will the oil run out?" is A question. But it is not THE question. The answer to it, by the way, is "never," because there will still be some oil left in the ground when it is no longer energetically profitable to attempt to extract it.

"When will the EROEI of oil become less than one?" is a better question because it addresses the primacy of energy physics over market economics as the real basis of life on Earth. The answer to it is "probably in less than 30 years." But this is not THE question, either.

THE question is "When will be start having big troubles on account of an insufficiency of energy resources?" And the answer is "As soon as any of the major currently producing oil fields, which are being kept at present at a sustained peak of extraction rate by seawater pumping, become so depleted that they are no longer worthwhile on account of a local EROEI < 1. That could happen (to, say, Ghawar) most any time.

There are two reasons, and they work together like synergistic devils. First, there's plain old supply-and-demand. Fossil fuel supply rates will go into decline. There's some dispute over when that will happen, and I happen to think that, globally, it already has begun to happen, that the rise in fuel and commodity prices means exactly what it seems to mean (i.e., 911 was a conspiracy, the holocaust is a hoax, but peak oil is neither), and that the end of civilization really is heading our way. Rising prices are a continuous spectrum kind of thing, but they trigger toggle events, such as a major trucking company or supermarket chain going out of business, in the same way that a rise in photon energy triggers the photoelectric effect.

As China's industry grows and its technology modernizes, it will bid for more and more of the world's remaining fossil fuel energy. What it gets, America and Europe do not get. That's why Bush sent US soldiers to Iraq, and it is why those troops are going to stay in Iraq. A similar thing can be said of India and for some other parts of the Third World. More people in the future than in the past will want energy, and there will be less of it in total global supply, and much less of it per bidder.

But besides supply and demand, we in the West have an aggravating condition: fractional reserve banking, monetized debt... in short, Jewish fake currencies posing as real money. The Jews began this game way back in 1850 when the Rothschilds agitated up moral outrage over slavery (they'd have tried to sew division between American Protestants and Catholics if slavery had not been more convenient). They continued the agitation until North and South went to war with each other, borrowing Jewish phony money to gear up their armies. The biggest purpose of the Civil War was to disunify and endebt the United States.

After the war was over and Lincoln was shot for issuing greenbacks and trying to send the Blacks back to Africa, the Jewish bankers hijacked the Senate and the House of Representatives, whose corrupted members cheated up the 14th Amendment - which to this day has no actual legal existence, however much the government tells us to the contrary at gunpoint. The 14th Amendment had two major purposes: (1) paving the way for race-mixing and (2) forbidding Congress to repudiate the public debt of the United States. Of course, since the 14th Amendment has no legality, Congress may indeed repudiate the public debt, and it may indeed make the United States a White country again, by law. It does not because of political pressures which the Jews continue to exert through the banks and through the media.

The next step was the Federal Reserve System, which is a privately owned (by Jews) central bank which has stolen from Congress the power to coin money and regulate the value thereof. Louis T. McFadden tried to warn America of what the Jews were up to, and the Jews killed him for it. Kennedy tried to reverse that fiat accompli, and the Jews killed him, too. Ignorants like to point out that the President of the United States nominates the chief governor of the Federal Reserve, and the Senate must decide whether to confirm him or not. But it is a mistake to think that the Jews care one whit whether this Jew or that Jew will serve as the visible liaison to the US government for the next several years, and a liaison is all he is.

Anyway, the Federal Reserve exists to create money "from nothing" by loaning it into existence. The bankers do no work to justify its creation. They do no work to recompense the country for the income the derive from the interest payments. They don't even pay income tax on that income, and they are the only for-profit corporation in the United States with that particular exemption. They even have advantages over counterfeiters (of the illegal sort) in that they can make the American taxpayer buy them the materials to print their money with, the paper to print it on, and the labor involved in the process.

The key fact is that all money in circulation in the United States (or very nearly so) is the aggregate principal of a great many loans. There is no other money set aside, interest free, to pay the interest with. And that means that the country as a whole can never escape endebtedness, so long as it continues to play the game by the Jews' rules. That's why the 14th Amendment's prohibition on repudiating the US public debt was so important to them. In fact, that debt must, by mathematical laws, continue to grow and grow unstoppably, eventually to the point where the whole productive power of the American people can no longer suffice to pay even the maintenance costs, the interest owed on the principal.

Although a few people will escape their own endebtedness through hard work, clever trades, or by means that are or ought to be illegal, they can do so only by capturing a portion of someone else's loan money, thereby leaving that fellow worse off than he was before.

The game is rigged so that the Jews can, at the time of their choosing, snatch away from us every worthwhile thing we have made and appropriate it for their own use, without doing any compensatory labor for our benefit in exchange.

Not content with even this, however, the Jews on the Federal Reserve banks augment their basic strategy with a contrived cycle of booms and busts. During the boom times, the Jews lower the interest rates to encourage Americans to borrow their fake money and use it to hire workers to build valuable things, or to buy them once built. Such as houses, for example. But at the moment the Jews believe that Americans are as deeply into debt as they are going to ever get, they contract the money supply and leave tens of millions of debtors without the means to repay their obligations. This is how the Jews "squeeze the sponge." They emerge at this time to haul the debtor Americans into court, whereupon they strip us of what all that we had made with our minds, with our hands, at our risk, and dump us into homelessness, into the prisons, or into our graves.

Demand for energy resources rises exponentially because debt-interest increases the owed amounts at an exponential rate. As long as the supplies of energy kept pace with this demand, most of the people subject to Jewish economics could keep their place through constantly accelerating the rate at which they used energy. That's why prices have already begun climbing, even though the rate of oil extraction has been maintained at a plateau, for the moment, by seawater pressure. A plateau isn't good enough to keep the Jewish vampire away. He will emerge from his crypt and destroy us with our own courthouses unless we either regain an exponentially increasing energy supply, force the US government to quit pretending that the 14th Amendment is real law, or else kill all the Jews involved in the monetized debt scams that threaten us.

When the rate at which energy becomes available begins to decline the Jew cannot fail to emerge to drink our blood. He might even find ways to go after those of us who believe ourselves safe because we are not in debt. For example, the Jews might start manipulating the property tax laws. Every Jewish home? A temple. It has a religious tax-exemption. Every gentile home? A den of vice! It must be taxed double or triple, or a dozen times what it was before, until the goy homeowner can pay no more, at which time the sheriff will appear to dispossess him, and his house will be bought at auction by those Jewish banks who will already have in their hands the homes of the gentile debtors.

Jerry Abbott
 
Old April 8th, 2008 #19
Itz_molecular
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I agree with Jerry . His points are valid .

Oil is just going to become progressively more scarce , therefore expensive .

Oil , being the life's blood of industrial societies , will choke off growth in those most dependent on it . The countries that can produce with the least use of oil will prosper .

France and Japan with their massive nuclear capacity , Switzerland with cheap hydro and electric trains , will be prime examples of nations that will prosper .

The US is in the worst situation , long distances , history of reliance on cheap oil , no mass transit to speak of . Worst and most destructive of all , a dumbed down population of mixed races . Rio , here we come ( without nice beaches and paradise weather).
 
Old April 8th, 2008 #20
John in Woodbridge
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Quote:
Originally Posted by Jerry Abbott View Post
I think that the Peak Oil theory is essentially correct. Kievsky made an important observation. It doesn't matter, insofar as the economic or ecological arguments are concerned, whether oil is a biological residue or whether it is abiotic in origin. The significant fact for these purposes is that it does not replenish at anything close to the speed at which we use it. .......

Jerry Abbott
Probably one of the best posts I've read on here.

Bravo sir!
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