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20 June 2011

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Colonel,

The fall in the price of a barrel of oil has more to do with the current economics and less to do with peak oil.

Peak Oil and Climate Change have become wrapped up with one’s beliefs and ideology. If the energy in oil was trapped by photosynthesis from sunlight by plants living millions of years ago, by definition, it is a limited resource. As time goes on, it will cost more and more to extract. The classic analogy is Whale Oil which kept rising in price until it was replaced by kerosene which made Rockefeller’s fortune. What is going to going to be the next cheap source of energy to replace petroleum?

Two things happened to price of oil. In March 2011 Obama Tackled Wall Street Oil Speculation and Investors realized that Greece and the United States are going to default; tanking the world economy and the demand for oil.

Greece and the United States are both cases of political realities crashing against ideology. Both States must raise and collect taxes, put their citizens back to work, and force investors to take haircuts to get the bad debt out their economic systems. The elites in Europe and the United States are intent on depressing their economies rather than losing one Dollar or Euro.

The riots in Athens and Vancouver are just a prelude of the explosion of anger by all of the out of work Losers who are being screwed by the Oligarchs and their paid Politicians.

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