EddieWalker
Epic Contributor
Another thing to watch for is those who want the price to go up and will create an International Conflict to make it happen. I think that's what's driving Putin and his closing of the pipeline. Create panic with a shortage and drive the price up. Iran is a total nut case country, but there also want to sell oil. The more they can sell it for, the more money they get. I wonder how much of what they do is based on their religion compared to their need for cash?
To counter that, it would appear that the Middle East countries are so dependent on selling their oil that they have refused to boycott it again like they did in the early 70's to punish us for supporting ******. I think they want to, but just can't afford it. Too many hands in the till, too much debt to pay and probably too little sympathy for *****.
I'm still waiting for the "so called" experts to come out and start making their predictions. Has anybody else noticed how quiet they are right now? Nothing on the news about where the price of oil is going. But when it was climbing, they were almost non stop in their dire predictions of how high it will go. Non one of them was right, nor did anybody predict the total collapse of the price of oil.
I think the stories we were hearing that blamed the price on the lack of oil being available and how China and India were growing so fast and buying it all up has been proven as a convenient excuse without any merit.
How much oil is pumped was the real determining factor and is the amount being pumped was just barely enough to meet demand, then the price was going up based on the lie that there's not enough oil available for everyone.
Then we find out that nobody is pumping at maximum levels, or even close to it. Then we learn that there are billions and billions of barrels of oil that nobody is even bothering to drill for. It's just sitting there under ground and being held in reserve for who knows what?
Lastly, we learned that our government has made it illegal to drill in all the good places for oil and has only allowed permits to the most expensive, or environmentally challenging areas, which is the same as making it impossible to drill in those locations. I was shocked to learn that we have more oil here in the lower 48 then Saudi Arabia, but we're not drilling it. There is a million barrels a day that could be pumped in ANWR that's also off limits. There is no shortage of oil!!!!!!!!!!
Since nobody seems to know for sure where or how oil is created in the planet, it seems interesting that they know that we're running out. We know of more oil that's not being drilled then we thought existed twenty years ago. Each new find, and they seem to happen about once a year, is bigger then the last. Brazil and Argentina have billions of barrels that they are just now starting to work on getting to. It's more oil that's not even being pumped!!!! Some reports are coming out that oil is the wast product of a type of bacteria and also found in the secretions of certain insects. Some oil wells that were thought to be pumped dry have started to replenish themselves. The level of misinformation that we've been fed on oil goes back decades, and it's scary what most people take for fact when nobody knows for sure what those facts truly are.
Eddie
To counter that, it would appear that the Middle East countries are so dependent on selling their oil that they have refused to boycott it again like they did in the early 70's to punish us for supporting ******. I think they want to, but just can't afford it. Too many hands in the till, too much debt to pay and probably too little sympathy for *****.
I'm still waiting for the "so called" experts to come out and start making their predictions. Has anybody else noticed how quiet they are right now? Nothing on the news about where the price of oil is going. But when it was climbing, they were almost non stop in their dire predictions of how high it will go. Non one of them was right, nor did anybody predict the total collapse of the price of oil.
I think the stories we were hearing that blamed the price on the lack of oil being available and how China and India were growing so fast and buying it all up has been proven as a convenient excuse without any merit.
How much oil is pumped was the real determining factor and is the amount being pumped was just barely enough to meet demand, then the price was going up based on the lie that there's not enough oil available for everyone.
Then we find out that nobody is pumping at maximum levels, or even close to it. Then we learn that there are billions and billions of barrels of oil that nobody is even bothering to drill for. It's just sitting there under ground and being held in reserve for who knows what?
Lastly, we learned that our government has made it illegal to drill in all the good places for oil and has only allowed permits to the most expensive, or environmentally challenging areas, which is the same as making it impossible to drill in those locations. I was shocked to learn that we have more oil here in the lower 48 then Saudi Arabia, but we're not drilling it. There is a million barrels a day that could be pumped in ANWR that's also off limits. There is no shortage of oil!!!!!!!!!!
Since nobody seems to know for sure where or how oil is created in the planet, it seems interesting that they know that we're running out. We know of more oil that's not being drilled then we thought existed twenty years ago. Each new find, and they seem to happen about once a year, is bigger then the last. Brazil and Argentina have billions of barrels that they are just now starting to work on getting to. It's more oil that's not even being pumped!!!! Some reports are coming out that oil is the wast product of a type of bacteria and also found in the secretions of certain insects. Some oil wells that were thought to be pumped dry have started to replenish themselves. The level of misinformation that we've been fed on oil goes back decades, and it's scary what most people take for fact when nobody knows for sure what those facts truly are.
Eddie
