Recently, an article published in “The Independent” from the UK touted “Oil supplies running out fast”. This might be true if they were talking about the oil reserves in the UK.
“One day we will run out of oil, it is not today or tomorrow, but one day we will run out of oil and we have to leave oil before oil leaves us, and we have to prepare ourselves for that day,” Dr Birol said. “The earlier we start, the better, because all of our economic and social system is based on oil, so to change from that will take a lot of time and a lot of money and we should take this issue very seriously,” he said.
Well the inference in the article appears to be we’ve pretty much found all the oil we can and those already producing will not (or be able to) keep up with demand.
Unfortunately, this assumption is not entirely correct. North America has more recoverable oil reserves than the entire world with one field estimated to produce for over 200 years. One just needs to look up the Bakkan Foundation to realize we’re being played for fools.
There is also an un-tapped set of fields in Indonesia that dwarf the reserves in the middle east.
The real reason (which isn’t mentioned in the article) is due to Keynesian economics, we in the US anyway, are using oil to back our dollar. Every oil field that comes in is immediately capped.
Just recently, the USGS re-evaluated the oil reserves in the Bakkan Foundation alone and valued it at over 18 trillion dollars at $50 per barrel. The Fed immediately printed up 12.5 trillion and then an additional 12 trillion (all in the name of economic recovery). Yeah right.
There is no shortage of manipulation or bull shite these days.
The climate change dummies are jumping all over this (supposed) shortage as if it was the second coming but they just don’t get it.
There really is going to be a mass extraction coming, the elite will extract more of your money, property and anything else of value under the guise of this man made shortage of oil and climate change.
