Haven?t you ever wondered how oil went from a lifted barrel of $2.50 to $20 - then to $30 - then to $60 per barrel - with moderate reductions of $1 or $2 on occasion to cheer up the market?
Haven?t you ever felt like a herd of cows being left out to graze in the morning and milked for money at night?
A lot of people have gathered to milk you, the consumer, because there is no one there to protect you. Not the President - Nor the oil consortiums who gather around the President. Not the Father George Herbert Walker Bush or James Baker, III oil crowd - not the multinationals who bleat about the high price of crude oil, but manage to post the highest profits within a century.
You haven?t heard from a corrupt Congress coming to your aid with taxes on excess oil profits - or an investigation of the manipulation by the crude oil market.
It all happened before when the Greed of the oil companies became evident but, this time all the pigs come to feed at the same trough, demanding more! More! MORE!!!
"Exxon Mobil posted a 44% profit gain and Royal Dutch/Shell Group had a 28% increase as unprecedented demand lifted energy and chemicals prices."
"Oil companies are reaping record profits as economic growth in Asia and North America cause energy consumption to increase faster than supplies."
"Worldwide oil consumption rose 2.6% exceeding a 2.2% gain in production." Combined net income at the four biggest oil companies that have reported first-quarter results rose 39% from a year earlier to $21.8 Billion!!! (1)
So, let?s start when George W. Bush, Jr. was first running for President and the donor cash from both the oil maggots and the pollution industry was pouring into the Bush election coffers. At the time, there was a huge glut of crude oil, sitting offshore, waiting to come into the storage tank farms of the multinational oil companies. But, they didn?t place orders so there was a ?fictitious shortage?.
Plants ran at below capacity so there was also a (planned) shortage of refined petroleum, to include heating fuel oil, gasoline and airline jet fuel (among other industrial uses of petroleum in pharmaceuticals, plastics, manufacturing, etc.)
The oil industry launched a campaign that screamed: "We need addition oil sources!"
What they were saying was that they wanted restrictions lifted from drilling in Alaska?s sanctuaries, the Florida coast, the Gulf of Mexico, offshore along California?s coastline. They wanted all restrictive covenants lifted so that they could drill, and to hell with conservation, ecology and the multiple pollution of drilling sites. The trick was to claim shortages and raise the price at the gas pump so the consumer would join them in demanding that drilling sensitive areas would be allowed.
That?s the U.S. side of the flim-flam.
OPEC, on its side, was urged by the U.S. oil maggots to raise their prices, which benefited the Saudis, the Kuwaitis, the Gulf Oil States, Venezuela and a mix of African states which had invested in drilling and carrier pipes to coastal areas, in order for pumped crude oil to be picked up by mammoth tankers. They had borrowed heavily to drill, lay pipe, and build ports.
Now that the price of crude oil has been pushed up to double last year?s prices (and more), we see Bush conferring at the Bush ranch with his "good friend" Prince Abdullah of Saudi Arabia to increase production and pretend to lower the price to $50 or $55 per barrel.
But, industry can neither keep up nor pass the increased prices of gas products over to the consumer. The world economies are slowing down rapidly, currencies are moving toward hyper-inflation (meaning more money buys less).
When the greedy oil potentates raise prices to astronomical heights, corporations and individuals fail. Then the Global Economy collapses. It is now running downhill at such a rapid pace that even if the Bushes and their cohorts wish to turn it around, it will take years to undo the damage they have caused.
The Iraq and Afghanistan Wars, though necessary, drained further hundreds of billions, merely adding weight to the downward plunge of the economy. The banks of Europe and Japan are papered with U.S. dollars which are rapidly declining in value as the oil industry, acting like a Global Vampire, sucks the value out of the U.S. currency.
Bush and his advisors may have come to the conclusion that they reached too deeply into the pockets of America and the World Economy.
Now, they wish to back off, but it may be too late. Even if they reduced the artificial price of oil, the lag effect may retard economic recovery and send the industrial economy into what used to be called a recession but, now moves ominously toward a long-term depression.
In a few years, General Motors, Chrysler Daimler, and the Ford Motor Company may declare bankruptcy and file for Chapter Eleven (as have several airline companies).
Who can afford an SUV when a fill-up costs $30-$40-$50 dollars and then gets only 10 or 12 miles per gallon?
Where will the vacationers go on a limited budget?
Who will fill the hotels, motels and restaurants that rely upon human traffic?
Food will ramp up in price because it will cost so much more to plow, seed, fertilize, and cultivate produce - and then ship it to market.
Israel, with her fast moving science-based ingenuity could be one of those few nations who could produce the answer. President Bush could employ all of Israel?s considerable science base to go after the solutions - much as America did in the Manhattan Project to achieve atomic energy. Unfortunately, we cannot count on that, because alternate energy sources are the exact opposite of what the oil maggots want.
But first, we must hit $100 a barrel and see a world-wide depression before the great minds of Washington are slammed against the wall. Then, in desperation, they will seek alternative energy resources as they see the great corporations of America close their doors.
The Bush oil consortium, the multi-nationals, the Arab Muslim oil nations are coining money in excess profits at a rate that even embarrasses them.
The oil nations know they are triggering a world recession/depression but they do not know how to stop it. Once again, the oil bandits are raiding the treasuries of many nations and, once again, nothing is being done to stop it.
1. "Exxon Mobil, Shell profits soar as energy profits rise" by Joe Carroll & Stephen Voss JERUSALEM POST April 28, 2005
Haven?t you ever felt like a herd of cows being left out to graze in the morning and milked for money at night?
A lot of people have gathered to milk you, the consumer, because there is no one there to protect you. Not the President - Nor the oil consortiums who gather around the President. Not the Father George Herbert Walker Bush or James Baker, III oil crowd - not the multinationals who bleat about the high price of crude oil, but manage to post the highest profits within a century.
You haven?t heard from a corrupt Congress coming to your aid with taxes on excess oil profits - or an investigation of the manipulation by the crude oil market.
It all happened before when the Greed of the oil companies became evident but, this time all the pigs come to feed at the same trough, demanding more! More! MORE!!!
"Exxon Mobil posted a 44% profit gain and Royal Dutch/Shell Group had a 28% increase as unprecedented demand lifted energy and chemicals prices."
"Oil companies are reaping record profits as economic growth in Asia and North America cause energy consumption to increase faster than supplies."
"Worldwide oil consumption rose 2.6% exceeding a 2.2% gain in production." Combined net income at the four biggest oil companies that have reported first-quarter results rose 39% from a year earlier to $21.8 Billion!!! (1)
So, let?s start when George W. Bush, Jr. was first running for President and the donor cash from both the oil maggots and the pollution industry was pouring into the Bush election coffers. At the time, there was a huge glut of crude oil, sitting offshore, waiting to come into the storage tank farms of the multinational oil companies. But, they didn?t place orders so there was a ?fictitious shortage?.
Plants ran at below capacity so there was also a (planned) shortage of refined petroleum, to include heating fuel oil, gasoline and airline jet fuel (among other industrial uses of petroleum in pharmaceuticals, plastics, manufacturing, etc.)
The oil industry launched a campaign that screamed: "We need addition oil sources!"
What they were saying was that they wanted restrictions lifted from drilling in Alaska?s sanctuaries, the Florida coast, the Gulf of Mexico, offshore along California?s coastline. They wanted all restrictive covenants lifted so that they could drill, and to hell with conservation, ecology and the multiple pollution of drilling sites. The trick was to claim shortages and raise the price at the gas pump so the consumer would join them in demanding that drilling sensitive areas would be allowed.
That?s the U.S. side of the flim-flam.
OPEC, on its side, was urged by the U.S. oil maggots to raise their prices, which benefited the Saudis, the Kuwaitis, the Gulf Oil States, Venezuela and a mix of African states which had invested in drilling and carrier pipes to coastal areas, in order for pumped crude oil to be picked up by mammoth tankers. They had borrowed heavily to drill, lay pipe, and build ports.
Now that the price of crude oil has been pushed up to double last year?s prices (and more), we see Bush conferring at the Bush ranch with his "good friend" Prince Abdullah of Saudi Arabia to increase production and pretend to lower the price to $50 or $55 per barrel.
But, industry can neither keep up nor pass the increased prices of gas products over to the consumer. The world economies are slowing down rapidly, currencies are moving toward hyper-inflation (meaning more money buys less).
When the greedy oil potentates raise prices to astronomical heights, corporations and individuals fail. Then the Global Economy collapses. It is now running downhill at such a rapid pace that even if the Bushes and their cohorts wish to turn it around, it will take years to undo the damage they have caused.
The Iraq and Afghanistan Wars, though necessary, drained further hundreds of billions, merely adding weight to the downward plunge of the economy. The banks of Europe and Japan are papered with U.S. dollars which are rapidly declining in value as the oil industry, acting like a Global Vampire, sucks the value out of the U.S. currency.
Bush and his advisors may have come to the conclusion that they reached too deeply into the pockets of America and the World Economy.
Now, they wish to back off, but it may be too late. Even if they reduced the artificial price of oil, the lag effect may retard economic recovery and send the industrial economy into what used to be called a recession but, now moves ominously toward a long-term depression.
In a few years, General Motors, Chrysler Daimler, and the Ford Motor Company may declare bankruptcy and file for Chapter Eleven (as have several airline companies).
Who can afford an SUV when a fill-up costs $30-$40-$50 dollars and then gets only 10 or 12 miles per gallon?
Where will the vacationers go on a limited budget?
Who will fill the hotels, motels and restaurants that rely upon human traffic?
Food will ramp up in price because it will cost so much more to plow, seed, fertilize, and cultivate produce - and then ship it to market.
Israel, with her fast moving science-based ingenuity could be one of those few nations who could produce the answer. President Bush could employ all of Israel?s considerable science base to go after the solutions - much as America did in the Manhattan Project to achieve atomic energy. Unfortunately, we cannot count on that, because alternate energy sources are the exact opposite of what the oil maggots want.
But first, we must hit $100 a barrel and see a world-wide depression before the great minds of Washington are slammed against the wall. Then, in desperation, they will seek alternative energy resources as they see the great corporations of America close their doors.
The Bush oil consortium, the multi-nationals, the Arab Muslim oil nations are coining money in excess profits at a rate that even embarrasses them.
The oil nations know they are triggering a world recession/depression but they do not know how to stop it. Once again, the oil bandits are raiding the treasuries of many nations and, once again, nothing is being done to stop it.
1. "Exxon Mobil, Shell profits soar as energy profits rise" by Joe Carroll & Stephen Voss JERUSALEM POST April 28, 2005