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GK

My wife's parents live in a small vacation town in Northern California and the people there at the checkout counter say it is very slow there due to no one driving.

Also, all the builders are out of work because of the housing crash, and plumbers are out of work because the builders are out of work.

The USD just went DOWN $0.366 to 73.68, at 0.5% drop, bigger than the oil DROP of 0.3% to $134.71 noted below.

Since oil is denominated in dollars, to get the true drop today, you can add together the percentages to get 0.666% drop.

Isn't that cute.

OK, I believe there were 2 trillion barrels of oil and we have burned through 1 trillion, so that would be the peak.

So the internationalist have a problem. They don't give a flying hoot that we are going to run of out oil sometime. They care that the amount of oil they can extract to form the foundation of the industries they own is essentially capped for annum.

Their big project right now is moving their factories from the USA to China. They know the US uses 25% of the worlds oil for 5% of the people. There are not a lot of pretty solutions to wrestling that oil away from the cold, dead hands of Americans.

The global-warming carbon tax was floated for a while, but not many people bought that. Loading up the government with $9 trillion of debt is taking too much time to collapse the economy and loading up the home consumers with massive debt is just shifting them to credit cards as the STILL keep buying the oil that SHOULD be going to CHINA in their minds.

So the final killshot is to buy up all the oil on the futures market. Once they can get the US to roll over and die, their oil use will go down FINALLY and then the oil price will collapse and CHINA can have lots of cheap oil for their zillion lane roads, cement mixers and child labor factories.

https://www.bloomberg.com/apps/news?pid=20601087&sid=a3FebQJhnLug&refer=home

Brent crude oil for August settlement declined 40 cents, or 0.3 percent, to settle at $134.71 a barrel on London's ICE Futures Europe exchange. Prices reached a record $139.32 today.

rockpaperscizzors

Israeli Ministers Mull Plans for Military Strike against Iran
06/16/2008
By Ralf Beste, Cordula Meyer and Christoph Schult
The Israeli government no longer believes that sanctions can prevent Iran from building nuclear weapons. A broad consensus in favor of a military strike against Tehran's nuclear facilities -- without the Americans, if necessary -- is beginning to take shape.
The one question over which Israel's various political groups disagree is the timing of an attack. The doves argue that diplomatic efforts by the United Nations should be allowed to continue until Iran is on the verge of completing the bomb. That way, Israel could at least argue convincingly that all non-military options had been exhausted.

The hawks, on the other hand, believe time is running out. They stress that there is now a "favorable window of opportunity" that will close with the US presidential election in November, and that Israel can only depend on American support for as long as current US President George W. Bush is still in charge in Washington. They are convinced that the country cannot truly depend on any of the candidates to succeed Bush in office. Barack Obama, the presumptive Democratic candidate, has already said that he favors direct negotiations with Tehran.
https://www.spiegel.de/international/world/0,1518,559925,00.html

How much of Gollum sachs (Israeli) money is tied into the commodities market? Talk about hitting the ball outta the park. Fear-mongering equals crude oil shooting off the charts. It's past-time to cut off the free lunch of foreign aid from the generous USA taxpayers.

"What difference does it make to the dead, the orphans and the homeless, whether the mad destruction is wrought under the name of totalitarianism or the holy name of liberty or democracy?"
Mahatma Gandhi


Market Watcher

You mentioned that the Russians are looking at continental shelf oil under the Arctic Ocean.

The geology under the Arctic Ocean is interesting. Looks like plate intersections on a truly massive scale to me - I am only an amateur geologist - and the Chukchi Ridge, the formation the Russians have talked about drilling, looks to me to be the Middle East on steroids as far as oil goes.

Many generations of oil politics left to play out, I think. I suspect we are only about 10% of the way through the Oil Age. In other words, if you think things have become tense now, just wait.

Americans are used to being rich, and so used to being rich we (most of us, anyway) don't even think of ourselves as rich anymore. Times are changing and we insist our dream world be reality. Bad, bad stuff.

You talk of WWIII, city busting nuclear war. Inevitable, I think. There is some possibility that it can be kept within reasonable bounds, say some hundreds of millions of deaths. Of course, I am by nature an optimist.

GK

Any discussion of 100 million deaths being an optimistic inevitability is exactly the same insanity believed by the ruling elites.

You should wonder if watching the market and worshiping money has made you successful but clinically insane.

Allen/Vancouver

Updating the database: Today's local gas price is $1.486/litre x 3.8 = $5.66/gal.

Our costs are a bit higher than other parts of the country because of some Transit Levies and, at the beginning of this month, a carbon emissions surcharge. When announced earlier this year there was mourning in the rural areas but general acceptance in urban areas. Now 2 cents a litre is barely noticable against the overall. I think BC is the only North American jurisdiction with an emissions surcharge on gas.

Excellent article in Saturday's Globe & Mail-Report on Business section. Detail on cost of exploration, shortage of materials, labor, engineering resources, exploration rigs, lax maintenance over decades, fatigued infrastructure, political instability, etc, etc.

Not going to get fixed in the next 6 months or 6 years.

GK

2.06 NZ Dollar/Liter
3.8 Liter/Gallon
0.75 NZ Dollar/US Dollar
====== =====================
$5.871 USD per gallon in NZ

PJSV

Eleine,

Please tell us your opinion about LS9.com. Talk about the goals of this company in the next post about energy, ok ?

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