Oil, not a fossil fuel
A study was recently published in Science Magazine that presented new evidence supporting the abiotic theory for the origin of oil, which asserts oil is a natural product the Earth generates constantly rather than a “fossil fuel” derived from decaying ancient forests and dead dinosaurs. If you don’t read Science Magazine then you would not have known this. The oil barons of the world don’t want you to know their pricing it like it’s going to run out by 2020.
The report goes on to say that oil is created within the mantle of the earth then seeps up through bedrock to deposit in sedimentary rock, where it can be retrieved. Another source attributes the percolation of oil toward the surface from the rotation of the earth.
The White Tiger oil field off the coast of Vietnam is roughly 3 miles deep, 2.5 miles which is fractured granite basement. The “fossil fuel” theory can’t explain discovering oil at these depths in granite rock. The Russians have teamed with Vietnam to make this discovery. It appears the Russians are well aware that oil is abiotic in nature.
According to the Energy Information Administration of the U.S. Department of Energy worldwide oil production in 1980 was 645 billion barrels. That certainly is a lot of oil being pumped out of the earth, wouldn’t you think at that rate oil would have been depleted in a relatively short time? No, by 2005 worldwide production was at 1.28 trillion barrels.
Even with the increase of oil production the cost of energy keeps increasing due to the fact that we aren’t refining any more than in 1976. The last refinery built in the U.S. was 1976. Build more refineries and we could produce more gas and consequently the price would decrease. But the powers that be wouldn’t have such a thing; profits at all cost must be maintained. So even though there is more than enough oil don’t expect price per barrel to go down anytime soon.
In the early 70’s President Nixon and Kissinger made a deal with Saudi Arabia, after Nixon took the U.S. off the gold standard, to use only USD to purchase oil. From that monopoly on the all-important oil trade the US dollar slowly but surely became the reserve currency for global trades in most commodities and goods. Substantial demand for US dollars ensued, pushing the dollar’s value up beyond its true value. We know where that situation led – to an US government suffocating in debt while its citizens face stubbornly high unemployment (due in part to the high value of the dollar); a failed real estate market; record personal-debt burdens; a ballooned corrupt banking system; which is ready to pop and a swaying economy. In addition, countries stored their excess US dollars savings in US Treasuries, giving the US government a vast pool of credit from which to draw. Because of this oil price has to remain high to back the USD. Of course to do this oil has to be made to appear scarce. If oil prices drop the USD value drops, putting the U.S. in a perilous predicament. If oil prices drop to low this would be the nudge that would have the U.S. economy truly falling over the cliff and the end of our current system. Not that the whole fiat currency system won’t collapse in the near future anyway.
We have to ask ourself was the BP oil blowout caused purposely to maintain low drilling output which in turn would keep oil prices high? There are stories out there pointing to deep horizon being torpedoed. Personally I wouldn’t doubt anything the evil SOB’s do to keep themself in power and wealth.
Good source of information: Black Gold Stranglehold, the myth of scarcity and the politics of oil
PS: I want to know how the dinos and plants got 5-10 miles below the surface and how some of the earliest dinosaur’s died in tar (oil) pits.