Just about a year ago...

[marcus]

He may be worth listening to, but I was just trying to get a sense of where he gets his data from. His statement that there is 200 years worth of oil on the north slope of Alaska flies directly in the face of every estimate of this oil field that I have seen. The USGS rates the reserves as between 2 and 6 billion barrels of oil recoverable at $60 a barrel. This is a lot less oil than what this guy is talking about. I guess I am just trying to see if he is just making shit up or what.

FWIW I also disagree that the answer to our oil import/export balance is to flood the market with cheap American drilled oil, even assuming this guy is on the level about its existence.

[Newc]

He was a Chaplain assigned to the pipeline and got all his info straight from the very heads of every major oil company. Once his book, The Energy Non-Crisis was released, the guy who gave him most of his information was fired.
He offered to help rewrite the guy's book to clarify a few key points the oil companies were going to use to discredit the book and author.

Once the revised edition hit, the oil company hired the guy back and gave him tons of money. Hush money, to be more precise.

The same guy called up Williams and said "Oil is going to $10 a barrel". Soon, oil went to $10 a barrel. Gold was selling at $800+ an ounce, and the Arabs were convinced to buy gold. The guy called Williams and said "Gold is going down to $350 an ounce".

Gold went down to $350 an ounce.

He got his info from the people who dictate the price of oil, and it's not the Saudis. These people tell the Saudis what they will give them for a barrel of oil. It's not based on supply and demand.

[Newc]

On the issue OSG brought up about importing oil, it's not about cheap oil, it's about control of oil. By controlling the middle eastern oil and sitting on our own oil, they can influence those governments.

These people can uncreate the very kingdom they helped build in one day.

These people took nomadic tribes and made them kings. They can certainly return them to the stone age in a day.


The logic comes into play when the Saudis are bound by contract to buy our National Debt. Also, the US Government still has the power to sieze any American business, particularly the ANWAR.
By relying on a foreign country for oil, the US Gov cannot sieze it, and the oil companies are free to rape and pillage the American people at the pump.

[Cleveland Metal]

Exactly....