Peak (demand for) Oil

[Samilcar]

Originally Posted By: Trvlr500
If you can control the supply, which they do, then you can control the price and make a whole lot of money. Here is just one commentary that can be found on WHY we aren't allowed to use our own resources.

http://seekingalpha.com/article/172797-the-global-oil-scam-50-times-bigger-than-madoff



"Over the course of an average month at the NYMEX, 5 billion barrels of oil will be traded, with a fee collected on every single transaction. That is ultimately passed down to US consumers, yet less than 40M barrels will actually be delivered. That is just 8 tenths of 1 percent of actual demand for the product that is being traded - ie. 99.2% of the oil transaction fees being paid by the American people do nothing more than create fees for the traders and record profits and bonuses for the trading firms."


Verrry interesting.

 

[Trvlr500]

I spent some time looking up info on Gull Island up in Alaska. There are actually 2 or 3 of them. Just like there is a huge supply of diamonds in Africa and they hold back the supply to control the price I believe they are doing the same thing with oil. As a matter of fact I KNOW they are doing the same thing with oil. The gold and silver markets are rigged the same way.

The trading that goes on globally is way above our heads and the system is so arcane I doubt there are many who actually understand how it all works with the exception of those that designed it or are actively employed in that area of expertise such as the CEO of Goldman Sachs or Citigroup.

 

[PandaBear]

Originally Posted By: Samilcar
Originally Posted By: Trvlr500
If you can control the supply, which they do, then you can control the price and make a whole lot of money. Here is just one commentary that can be found on WHY we aren't allowed to use our own resources.

http://seekingalpha.com/article/172797-the-global-oil-scam-50-times-bigger-than-madoff



"Over the course of an average month at the NYMEX, 5 billion barrels of oil will be traded, with a fee collected on every single transaction. That is ultimately passed down to US consumers, yet less than 40M barrels will actually be delivered. That is just 8 tenths of 1 percent of actual demand for the product that is being traded - ie. 99.2% of the oil transaction fees being paid by the American people do nothing more than create fees for the traders and record profits and bonuses for the trading firms."


Verrry interesting.


No, your are looking at it wrong. 5B / 40M is 125 times. Each time it is traded, someone win and someone loses, and in the end, consumer pays what they deserved and those 125x gambling along the way makes someone richer and someone poorer, like the poker tables in Vegas.

 

[fsskier]

TRVLR Well, we have waited for a month now for the links to the "unlimited" and "200" years of oil remaining information.

It seems like all the oil and gas journals, the USGS, and indeed the chairman of BP, Total and the amazing wildcatter T. Boone Pickens do not know of these alleged supplies.

Perhaps your information came from a reliable source, like Talk Radio?

The worlds 3 stages of oil production: conventional oil:

1.bury a bucket of oil in your yard, you can suck it out with a soda straw. This is conventional oil.

2. Tip over the bucket and rototill the earth a little: Now you have tar sands, if you use enough fuel hauling it and enough natural gas heating it, you can get some of it back. About the same energy as the natural gas required to extract it.

3. Dig up the oil soaked dirt, use it for sand the next time you mix concrete. Let it set hard for a few years.Now you have oil shale. Likely most of this will never be recovered - it takes way more energy to extract it then the oil will deliver after it is extracted.