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Oil money keeps the Elites in power - not for long?
Oil prices are falling, and that could change everything
Date: 2/28/2015 4:26:48 PM ( 9 y ) ... viewed 7943 times Oil money keeps the Elites in power, but what happens if the price of oil keeps on going down?
Energy is the world's largest industry. Oil [and other fossil fuels] are the main source of energy.
We might have wished that sensible reasoning [such as saving ourselves from global warming] was behind the end of oil dominance, but the most likely scenario for the end of oil but of course it will be all about MONEY.
The price of oil went from around $10 per barrel to $100 per barrel over the first 10 years of the new millennium. Nobody can explain exactly "why and how oil got to $100 per barrel" - there was a steady supply and a steady demand and the cheap easy oil was still coming from the huge Arabian oil fields.
Personally, I think the $100/bbl price was artificial - as in "a conspiracy to fund the Bush Wars" or something like that.
Since June of 2014 the price of oil had dropped from $100/bbl to $50/bbl, and the forecast is for a continued drop - "nothing in sight that would stop the slide".
Oil at $20/bbl would be fair, sane, and within the bounds of capitalism where supply and demand determine the price. It costs about $5/bbl to produce Saudi oil, so there is still lots of room for profits in that oil.
It is only the "extreme oil and gas" we get from the Alberta Tar Sands, from Fracking, and from Deep Sea Drilling that costs more than $20/bbl to produce. Tar Sands oil can cost upwards of $40/bbl!!
Extreme oil is also the most damaging to the environment, and it contributes a lot more CO2 to global warming than conventional oil.
SO??
So only the Saudi oil will be profitable, and the American Era of Global Dominance will no longer be funded by oil.
This is great news and a warning at the same time. The Big Evil that is killing the planet, and from which every military conflict on the planet is financed [and often fought over], will no longer be powerful enough to continue it's conquest for global domination and control.
Big Evil = Amerika + Wealthy Elites everywhere. America has been "at war for 222 of the 239 years since confederation". Big Evil funds both sides, AND sells weapons to, both sides of most military conflicts in the world today!!
End of Oil comes when oil is $20/bbl.
The WARNING is that there will be a period of adjustment to the new economic conditions, and that will mean some hardship for everyone.
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