Paper Sold To Pools of Liquidity

Vast unexploited oil reserves? An economic threat from too much oil? Dark pools of liquidity, threats of hyperinflation from unsound economy and Fed practices, remembering the lessons from The Great Depression, reactionary measures to protect the dollar, An examination of a crisis scenario.

Lindsey Williams, who has been an ordained Baptist minister for 28 years, went to Alaska in 1971 as a missionary. The Transalaska oil pipeline began its construction phase in 1974, and because of his concern for the spiritual welfare of the "pipeliners," Mr. Williams volunteered to serve as Chaplain on the pipeline, with the subsequent full support of the Alyeska Pipeline Company. Because of the executive status accorded to him as Chaplain, he was given access to the information that is documented in his book, "The Energy Non-Crisis," which shows that peak oil is a scam because our domestic reserves in the North Slope of Alaska alone are at least as large as those in Saudi Arabia and are potentially large enough to power the US with domestic oil for two centuries. Recently this year, due to the sensitive nature of his book, Mr. Willians' life was threatened and he was forced to shut down his web-site and stop selling his books and CDs. At the urging of Dr. Stanley Monteith of Radio Liberty, he called back the same oil executive who had warned him about the danger he would be in if he continued to disseminate certain information to ask if in fact there was any information that he could in fact convey to the public without upsetting the powers that be. The oil executive, who Mr. Williams had known for years, gave Mr. Williams some startling revelations which he could safely reveal to the general public. As you know, the Illuminati are arrogant enough to reveal some of their plans because they believe there is nothing we can do about it.

Basically, Mr. Williams was told that over the next twelve months, from mid-2008 to mid-2009, (1) news of super giant oil fields, ready to produce, would be announced for two locations, in the Northern Slopes of Russia and in Indonesia, which oil fields would together contain more oil reserves than the entire Middle East;
(2) that this news would drive oil prices down to $50/barrel;
(3) that OPEC countries, especially in the Middle East, would be bankrupted by this price decrease;
(4) that this would cause the financing of our foreign trade and current account deficits through purchases of treasury paper by foreign nations with their surplus oil profits to collapse, leading to the collapse of the dollar;
(5) that the collapse of the dollar would cause unprecedented financial strife and turmoil in the US, and that it would take many years for the US to recover from this financial debacle;
(6) that they (big oil) support John McCain for President; and
(7) that US domestic oil reserves would never be tapped, and that any legislation which might allow domestic reserves to be tapped would not be allowed to pass, leaving the US dependent on foreign oil forever.

Read the rest of the article here:

Theinternationalforecaster.com
Thetruthseeker.co.uk

BP adds fuel to the oil price debate

BP has now come forward to admit that peak oil is a reality and is occurring.

According to the oil producers' cartel Opec, the blame lies with speculators in the international markets. But Tony Hayward, chief executive of BP, describes that view as "a myth".

He argues that the main cause is the tight balance between global supply and demand. Which is in turn 'Peak Oil' - demand outstrips supply, simply because there is not enough oil left in the world or the oil that is left in the world is plentiful but it has become too costly, too energy intensive to extract or too difficult to extract.

BP's new Statistical Review of World Energy - a key information source for many people in the industry - highlights what has been going on.

Falling production

According to BP, global oil consumption grew by 1.1% in 2007, while total production fell by 0.2% or 130,000 barrels per day - the first decline since 2002.

Production in Opec countries was cut in November 2006 and February 2007.

The largest production cuts last year were in Saudi Arabia - the country which has by far the largest oil reserves in the world and is normally the world's largest producer. But BP says Saudi Arabia's 12.6% of global output was almost matched by Russia.

In 2008, BP expects Russian output to fall by around 1%. And although Saudi Arabia has committed itself to some small production increases, the balance between supply and demand looks likely to remain extremely tight.

The rise in oil prices has been remarkable. In 1997 the average price of a barrel of Brent crude was $12.72. In 2007 it was $72.39. And earlier this month it touched $137.

Source: News.bbc.co.uk

Read BP's 2008 Statistical Review of World Energy

Russia's Gazprom predicts $250 oil in 2009

DEAUVILLE, France, June 10 (Reuters) - Russia's Gazprom, the supplier of a quarter of Europe's natural gas, expects the price of crude oil to almost double as the decade draws to a close, taking gas prices with it.

"We think it will reach $250/bbl in the foreseeable future," Chief Executive Alexei Miller told reporters at a presentation in France. Officials said the prediction was for 2009.

Alexander Medvedev, deputy CEO of Russia's dominant gas group, said gas prices for Europe would rise to reflect the cost of crude.

Europe's gas prices are mainly based on long term contracts and tied to price of crude. The comments came as the oil price sat at around $134 a barrel, a few dollars short of last week's record level.

Gazprom, already the world's largest gas producer with a stock market value of over $330 billion, expects to triple in size to become a $1 trillion company within seven to 10 years.
It will be investing heavily to that effect, with total investments estimated at $30 billion for 2008 and set to rise in the years after that, company officials said. Medvedev sought to allay concerns that the company's European investments might be politically motivated, and said EU efforts to diversify its gas supplies would not solve anything.

"Why should we invest money to create the possibility to shut off the gas supply," he said at the presentation in the resort town of Deauville in northern France.

Gazprom sells the EU around a quarter of its gas and wants to raise this to around a third. Brussels has sought to diversify supplies to avoid over reliance on Russia and improve the security of energy supplies.

"If you diversify suppliers, it will not solve the problem," Medvedev said.

He also said Gazprom will only consider investing in Russian oil major TNK-BP after shareholders BP Plc and a group of Russian billionaires have settled a dispute over ownership.
Industry sources say Gazprom is interested in buying control of TNK-BP, where the world's third-largest non-government controlled oil company by market value, BP, is locked in battle with its Russian oligarch partners over control of the joint venture.

Earlier, Miller told a French newspaper that by 2020, Gazprom sees about half of its gas production coming from new fields in arctic seas, Yamal peninsula in Western Siberia and the Far East/

"By then (2020), about half of gas production will come from new fields on the continental shelf of arctic seas and from the Yamal peninsula in Western Siberia and the Far East," he told told Le Figaro newspaper.

The Russian gas producer also said it aimed to become a major player in France and targeted corporate customers.

Miller said Gazprom did "not exclude" making major acquisitions in France but organic growth was the priority for now.

The company has indicated it would like to buy more gas pipelines and storage facilities across the continent and some EU politicians fear the gas giant's westward expansion will allow the Kremlin to exert more control over Europe's energy markets.

Source: Guardian.co.uk

End of the world as we know it

This is very alarming indeed. Now is THE time to adopt new clean energies, such as Zero Point before it really is too late! We have now reached and past "peak oil", maybe that is why experts are predicting oil at $160 a barrel shortly.

Peak oil spells the end of civilization. And, if it's not already too late, perhaps it will prevent the extinction of our species.

M. King Hubbert, a petroleum geologist employed by Shell Oil Co., described peak oil in 1956. Production of crude oil, like the production of many non-renewable resources, follows a bell-shaped curve. The top of the curve is termed "peak oil," or "Hubbert's peak," and it represents the halfway point for production.

The bell-shaped curve applies at all levels, from field to country to planet. After discovery, production ramps up relatively quickly. But when the light, sweet crude on top of the field runs out, increased energy and expense are required to extract the underlying heavy, sour crude. At some point, the energy required to extract a barrel of oil exceeds the energy contained in barrel of oil, so the pumps shut down.

Most of the world's oil pumps are about to shut down.

We have sufficient supply to keep the world running for 30 years or so, at the current level of demand. But that's irrelevant because the days of inexpensive oil are behind us. And the American Empire absolutely demands cheap oil. Never mind the 3,000-mile Caesar salad to which we've become accustomed. Cheap oil forms the basis for the 12,000-mile supply chain underlying the "just-in-time" delivery of plastic toys from China.

There goes next year's iPod.

In 1956, Hubbert predicted the continental United States would peak in 1970. He was correct, and the 1970s gave us a small, temporary taste of the sociopolitical and economic consequences of expensive oil.

We passed the world oil peak in 2005, and we've been easing down the other side by acquiring oil at the point of a gun - actually, guns are the smallest of the many weapons we're using - paying more for oil and destroying one culture after another as the high price of crude oil forces supply disruptions and power outages in Third World countries.

The world peaked at 74.3 million barrels per day in May 2005. The two-year decline to 73.2 million barrels per day produced a doubling of the price of crude. Later this year, we fall off the oil-supply cliff, with global supply plummeting below 70 million barrels/day. Oil at merely $100 per barrel will seem like the good old days.

Within a decade, we'll be staring down the barrel of a crisis: Oil at $400 per barrel brings down the American Empire, the project of globalization and water coming through the taps. Never mind happy motoring through the never-ending suburbs in the Valley of the Sun. In a decade, unemployment will be approaching 100 percent, inflation will be running at 1,000 percent and central heating will be a pipe dream.

In short, this country will be well on its way to the post-industrial Stone Age.

After all, no alternative energy sources scale up to the level of a few million people, much less the 6.5 billion who currently occupy Earth. Oil is necessary to extract and deliver coal and natural gas. Oil is needed to produce solar panels and wind turbines, and to maintain the electrical grid.

Ninety percent of the oil consumed in this country is burned by airplanes, ships, trains and automobiles. You can kiss goodbye groceries at the local big-box grocery store: Our entire system of food production and delivery depends on cheap oil.

If you're alive in a decade, it will be because you've figured out how to forage locally.

The death and suffering will be unimaginable. We have come to depend on cheap oil for the delivery of food, water, shelter and medicine. Most of us are incapable of supplying these four key elements of personal survival, so trouble lies ahead when we are forced to develop means of acquiring them that don't involve a quick trip to Wal-Mart.

On the other hand, the forthcoming cessation of economic growth is truly good news for the world's species and cultures. In addition, the abrupt halt of fossil-fuel consumption may slow the warming of our planetary home, thereby preventing our extinction at our own hand.

Our individual survival, and our common future, depends on our ability to quickly make other arrangements. We can view this as a personal challenge, or we can take the Hemingway out. The choice is ours.

For individuals interested in making other arrangements, it's time to start acquiring myriad requisite skills. It is far too late to save civilization for 300 million Americans, much less the rest of the planet's citizens, but we can take joy in a purpose-filled, intimate life.

It's time to push away from the shore, to let the winds of change catch the sails of our leaky boat.
It's time to trust in ourselves, our neighbors and the Earth that sustains us all.

Painful though it might be, it's time to abandon the cruise ship of empire in exchange for a lifeboat.

Source: Azcentral.com

Crossingpointoflight.blogspot.com

Experts Predict Imminent Oil Squeeze

The oil price could hit $160 a barrel as soon as next week, says ´Zapata’ George Blake, the Texan oil analyst quoted by the London-based online newsletter Money Morning.

‘Zapata’ George has a habit of making bold calls that often seem to be proved right. He thinks there’s an imminent supply squeeze ahead, which will cause the oil price to spike.

But, first, Money Morning dispels a couple of common myths about oil. Number one, there is a belief that demand for oil will go down in a recession.

In the last 58 years, according to Worldwatch estimates (based on sources such as BP and the International Energy Agency), year-on-year demand for oil has grown every year, except for two brief periods.

Between 1973 and 1975, amidst a global energy crisis, global demand decreased annually by a whopping 0.01 percent. And between 1979 and 1984 consumption growth levelled, the biggest annual decrease being in 79-80 - down a devastating 0.04 percent.

Thus, demand for oil will not fall by any significant amount, even if the US goes into recession.

Oil myth number two is that increased production will meet demand.

Money Morning reminds those who affirm that, where are the discoveries that will lead to new production?

The last major oil frontiers were discovered as long ago as the late 1960s – the North Sea, the North Slopes of Alaska and Western Siberia.

Since then, there has been some reduction in the number of discoveries, but, more significantly, a huge reduction in their size. In the 1960s over 500 fields were discovered; in the 1970s, over 700; in the 1980s, 856; the 1990s, 510.

But in this decade just 65 oil fields have been discovered.

Of the 65 largest oil producing countries in the world, up to 54 have passed their peak of production and are now in decline, including the USA in 1970/1, Indonesia in 1997, Australia in 2000, the North Sea in 2001, and Mexico in 2004.

‘Zapata’ George points out that the extreme cold spell in February in Alberta in Canada meant that the tar sands couldn’t be mined. One refinery in Edmonton had no oil to refine, while the larger Strathcona Refinery was running at significantly reduced rates due to ‘operational problems’.

He then mentions Australia, where there are currently gasoline shortages. BP and Shell have apologized, citing ‘constraints on imports’, leading to ‘unprecedented level of fuel shortages’. The four biggest oil refineries in Australia are not operational.

Meanwhile, Chinese oil demand went up by 6.5 percent in February, and their oil imports have risen by 18.1 percent. In brief, the Chinese are getting the oil, while Canada and Australia are going short.

Readers maybe interested in the 'peak oil' articles located in the side panel on the right, under the heading "March Special Report"

Source: Moneyweek.com

Oil price up $2 as economy slows
News.bbc.co.uk

Oil price at record $100 a barrel

Oil has traded at $100 a barrel for the first time.

Sources: news.bbc.co.uk bloomberg.com

Peak Oil and Zero Point

The industrial civilization runs on oil. Yet production of oil and other hydrocarbon liquids has peaked. See the graphs compiled from the United Nations International Energy Information Agency (IEA) and the US government’s Energy Information Agency (EIA) at:
Peakoil.nl

A good and brief look on “peak oil” for those who are not familiar with this concept can be found at:
Theoildrum.com

At the same time demand for oil has increased from an annual growth rate of about two percent to about three percent in recent years as nations such as China, and now India, rapidly industrialize. Discovery of new oilfields peaked in the mid-1960’s and has declined precipitously ever since. Right now for every three to four barrels of oil the world consumes one barrel of replacement oil is discovered.
Aspo-ireland.org

The Human civilization in general and American society in particular use more energy per capita than anyone else on the planet. We are living off rapidly depleting oilfields discovered forty years ago. Supply is decreasing while demand is increasing. This is a recipe for disaster.

The 2005 Hirsch Report found that transitioning from one source of energy (oil) to another requires a massive and sustained effort over several decades. If you wait until the problem becomes acute then it’s simply too late to deal effectively with it.
Hirsch_World_Oil_Production

Many reports have shown that wind, solar and tidal power will not be sufficient to sustain our economy and lifestyles once fossil fuels have gone. Nuclear energy is far too dangerous and should never be used at any cost to the planet and it's environment.

Recently the mainstream media has picked up on the fact that we have reached peak oil. To avoid social and economic breakdown we need to act now in order to introduce new forms of energy seamlessly across the planet.

Adopting new, free and clean energy such as Zero-Point Energy (ZPE) would be a landmark event for this planet. What is needed is determination and courage from those who are in power and the people of this planet to force this new energy out into the open and to force ‘those’ aside that continue to hijack the way we live. ‘They’ and we know who ‘they’ are must not be able to continue with this death and destruction we see across the globe. We ALL must adopt a new way of learning and living and this includes being brave and accepting that this new form of energy exists. We must continue to get this new form of energy to the open market for EVERYONE to use. The suppression of this energy according to so called ‘interests of national security’ is totally unacceptable.

Steep decline in oil production brings risk of war and unrest, says new study

Output peaked in 2006 and will fall 7% a year

Decline in gas, coal and uranium also predicted

New study warns that world oil production has already peaked and will fall by half as soon as 2030. Report also forecasts extreme shortages of fossil fuels will lead to wars and social breakdown.

“The German-based Energy Watch Group will release its study in London today saying that global oil production peaked in 2006 - much earlier than most experts had expected. The report, which predicts that production will now fall by 7% a year, comes after oil prices set new records almost every day last week, on Friday hitting more than $90 (£44) a barrel. "The world soon will not be able to produce all the oil it needs as demand is rising while supply is falling. This is a huge problem for the world economy," said Hans-Josef Fell, EWG's founder and the German MP behind the country's successful support system for renewable energy.

“The report presents a bleak view of the future unless a radically different approach is adopted. It quotes the British energy economist David Fleming as saying: "Anticipated supply shortages could lead easily to disturbing scenes of mass unrest as witnessed in Burma this month. For government, industry and the wider public, just muddling through is not an option any more as this situation could spin out of control and turn into a complete meltdown of society."Mr Schindler comes to a similar conclusion. "The world is at the beginning of a structural change of its economic system. This change will be triggered by declining fossil fuel supplies and will influence almost all aspects of our daily life." Jeremy Leggett, one of Britain's leading environmentalists and the author of Half Gone, a book about "peak oil" - defined as the moment when maximum production is reached, said that both the UK government and the energy industry were in "institutionalised denial" and that action should have been taken sooner.” "When I was an adviser to government, I proposed that we set up a taskforce to look at how fast the UK could mobilise alternative energy technologies in extremis, come the peak," he said. "Other industry advisers supported that. But the government prefers to sleep on without even doing a contingency study. For those of us who know that premature peak oil is a clear and present danger, it is impossible to understand such complacency."”

Source: Guardian.co.uk

Now more than ever we need to adopt Zero Point Energy.