Oil Up Due To Israel War Games

June 20, 2008

Elaine Meinel Supkis

Finally a news service makes an open connection between Israel/US war talk and war games and the price we pay for oil! The NYT, on the other hand, has an editorial demanding we sue OPEC because of high oil prices. Well, prices were low when the US invaded Iraq! Also, thanks to the high cost of oil, new technologies and research takes off and not a minute too soon! We have burned nearly half of all the world's oil. There is still half of it left but this doesn't give us an excuse to burn it all in a few years.

Crude Oil Rises as U.S. Dollar Weakens, Israel Conducts Drill

(Bloomberg) -- Crude oil rose as the weaker dollar enhanced the appeal of commodities as a currency hedge and the New York Times reported that Israel held a rehearsal for a potential bombing attack on nuclear targets in Iran.

Oil prices have nearly doubled in the past year as investors sought refuge from a declining dollar, which fell again today after traders pared bets the Federal Reserve will raise rates on June 25. Iran, OPEC's second-biggest oil producer, would respond to an Israeli attack with a ``heavy blow,'' a senior cleric said.

The dynamics of the dying dollar and wars in the oil pumping nations is hard for people to understand especially when there is a blizzard of propaganda designed to confuse and confound us all. Inflation in the US takes off when oil is expensive. And oil gets expensive because of wars and boycotts! The years of the boycott of Iraq under Saddam was mitigated very cleverly by the 'oil for food' scam set up by the G7 at the UN. They knew that if they had a true boycott, there would be raging inflation, Iran would become very rich and the US would go bankrupt.

For some horrid reason, our rulers have decided to NOT have oil export markets for Iran. The boycott is serious now and time is running out. There can't be a 15 year boycott like with Iraq. It has to be ending very, very soon or else! The war talk, the boycotts, everything is worsening inflation. At first, I suspect that the banking gnomes wanted all inflation to flow to gold. The reason is simple: nothing is connected with gold. When gold went up and up and up before the war talk got serious, this was OK since it ISOLATED dollars and kept them out of markets such as food and fuel.

Note that food and fuel have risen very rapidly since gold has stagnated in value! Gold bug sites can't understand this. They think the big agents want cheap gold. Why, in heaven's name? Cheap gold doesn't move markets. Once money flows into gold, it ceases to circulate. This is because no one does business in gold. Gold futures don't change anything for consumers. It doesn't make the price of food go up! It doesn't make the price of oil go up! How simple is this?

If I wanted popularity rather than truth telling, I would lie about gold. There are many gold bug sites that cling to a mythology about gold as being 'real money.' I have explained that gold is useful only as a regulator and guardian of banks. When it is held privately, it has less power. If it is needed due to war, a gun or control of armies and militias make much more sense. Then one can steal gold. Which is used to buy arms!

Back to oil: Israel has scared the Iranians into taking hostile actions. This means they will destroy oil facilities in the Gulf. And if the US joins in this criminal escapade then we might get WWIII as the other empires move to prevent the US from taking over OPEC entirely. Europe wants Israel and the US to take over OPEC since they are major OPEC customers. Right now, they need Russian energy and this scares them since Russia is powerful and well armed. The Arabs are not.

High oil prices are a war tax. The US people can't understand this since no one talks about it on TV. Here is the odious NYT editorial demanding we sue OPEC for selling oil to us at a price determined by speculators and war profiteers:

By THOMAS W. EVANS: Sue OPEC

THE president of the United States has the power to attack, and perhaps destroy, the Organization of the Petroleum Exporting Countries, the illegal cartel that has driven the price of oil over $130 per barrel. This can be accomplished without invasion or bombing. No special legislation is needed. The president need simply allow the states to seek relief in the Supreme Court under our antitrust laws.
*snip*
Even an adverse decision in this suit would draw attention to OPEC’s destructive behavior. An informed and aroused public would demand action from whichever branch the court identified as having the authority to act against the cartel. The Supreme Court’s decision would determine the constitutional path to redress.

Moreover, confronted with the likelihood of huge damages and restraint of its illegal conduct, OPEC, or some of its members, might seek a settlement establishing production goals that would provide a price closer to actual costs. The probable reduction in the price of heating fuel and gas at the pump might exceed the amount of the current federal stimulus package.

If the president allowed the states to sue OPEC, his actions would undoubtedly anger political leaders in the Middle East and create the need for diplomatic initiatives to limit the fallout. But how stable is the Middle East right now? And isn’t starting a lawsuit better than starting a war?

Thomas W. Evans, who was an adviser to Presidents Ronald Reagan and George H. W. Bush, is the author of “The Education of Ronald Reagan.”

This clown knows perfectly well that the US and Israel as well as Europe are conspiring to bomb, bomb, bomb all the OPEC countries one by one. We got our claws into Iraq. Now perhaps dear Mr. Evans can talk about suing his Exxon Mobile buddies? Put them in prison, I say! With those hedge fund liars. But no, Evans blames high prices on OPEC. OPEC should pump more and more oil! As fast as possible! Right!

Talk about a fast road to hell. This will drive us over the Hubbert Oil Peak in no time flat. Just publishing trash like this editorial is dangerous. They already suspect we plan to destroy them in the Apocalypse. They, in turn, are rapidly buying us out and hope to own us just like the Chinese now own us. Both the Chinese and Arabs know this would be the 'soft landing' that would prevent WWIII which neither party wants.

China, U.S. sign 10-year energy, environment framework

( Xinhua) -- China and the United States signed a 10-year energy and environment cooperation framework here Wednesday after the two nations concluded their fourth round of Strategic Economic Dialogue, or SED.

Speaking to reporters before the signing ceremony at the U.S. Treasury Department, visiting Chinese Vice Premier Wang Qishan said the deal was "a major achievement of the meeting," which will influence future bilateral economic cooperation and contribute to the sustainable development of the world.

The framework also highlights the great importance and strategic influence of the SED mechanism, he added.

U.S. Secretary of Treasury Henry Paulson said through the framework, "we will address some of the most important and difficult challenges facing our nations and the world today -- energy security, environmental sustainability and climate change."

As the US frets about OPEC, we struggle to set in stone all sorts of cartels and deals with other empires. We hope this will tie everyone's hands for when we invade Iran, Saudi Arabia and other nations with oil. But China will bankroll this only if we die but they collect the cheap oil! So the world hangs on a very fine thread. The US wants to dominate China but we need cheap oil to do this. China wants cheap oil, too. But China intends to dominate the US. Will this lead to war? It is very possible. This is so similar to the situation between Germany, Japan and England in 1914.

June is Bustin’ Oil All Over!
Michael Fox

According to Rep Peter DeFazio (D-Or), the entity that owns the most oil in the United States right now is not ExxonMobil or Chevron or Valero: it’s Morgan Stanley. So what’s Morgan Stanley doing with all that oil? Speculating on the petrofraud bonanza.
*snip*
2. There is no reason for oil prices to be what they are, because there is no shortage. If there were a shortage, there would be rationing and/or gas lines. We have been through genuine shortages, most recently in 1979. In 1979, the price of gasoline increased from 69¢/gallon to 99¢/gallon, while an OPEC embargo was keeping the flow to a trickle. That was an increase of 43%. With no embargo, why has gasoline gone up over 100% in the past year (it is roughly $5/gallon in Los Angeles today, and was less than $2.50/gallon a year ago)?

So, as Evans rages against OPEC, he overlooks hoarding and price gouging in the US. Our own people are a bunch of sex-mad gnomes who want to get rich no matter who they destroy or even if they betray their own neighbors and doom them to death and destruction. They will talk about wars and then hoard oil and then charge us all an arm and leg for it and then blame the Arabs, of course. This tribal warfare is conducted while ignoring non-tribal members. We are tools, not fellow citizens, in this business.

US limits oil trading in London

Turbulent conditions have made the crude oil market vulnerable to illegal activity, US regulators on Tuesday warned as they imposed limits on the speculative positions on some trades made on overseas exchanges.

Walter Lukken, acting chairman of the Commodity Futures Trading Commission, said the environment was "ripe for those wanting to illegally manipulate the markets" and that the agency was "taking constructive steps . . . to make sure there is not excessive speculation driving the markets".

Instead, why not arrest the guys running Goldman Sachs? And their agents within our government starting with the head of the Treasury? This kills two birds with one stone. But of course, this article doesn't mention the business about Goldman Sachs making up for lost profits by oil speculating and hoarding!

Wall Street Lobbies to Protect Speculative Oil Trades

By Jeffrey H. Birnbaum
Washington Post Staff Writer

Wall Street banks and other large financial institutions have begun putting intense pressure on Congress to hold off on legislation that would curtail their highly profitable trading in oil contracts -- an activity increasingly blamed by lawmakers for driving up prices to record levels.

Representatives of Goldman Sachs and Morgan Stanley, along with the trade associations for hedge funds and other financial groups, have lobbied the offices of key legislators, briefed senior staffers on committees that oversee pivotal parts of the energy markets and distributed research materials explaining their view about oil and how it's traded.

HAHAHA. Imagine the bribes they are handing out to politicians to allow them to speculate in oil futures and drive the price far and beyond that which OPEC has asked for! The more Congress talks about this, the more money flows into their bank accounts! So they will talk and talk but do nothing except paper over the crime and Goldman Sachs will talk sweet and do some hat trick and then life will go on....with the talk turning to war. War will fix high oil prices!

Gads! Anyone looking at the timelines of wars and oil prices can see that never do wars cause oil prices to drop. Peace does that. It doesn't matter who wins, either. War=high oil prices, peace=low oil prices.

IMF To Investigate Factors Behind Oil Price Surge

The International Monetary Fund will prepare an analysis of the real and financial factors behind the recent surge in oil and commodity prices, their volatility, and the effects on the global economy, Managing Director Dominique Strauss-Kahn said.

Responding to a call by the Group of Eight (G8) major industrial nations, Strauss-Kahn said that as part of the analysis, the IMF would look into the possible role of financial market speculation in the recent price hikes.

"How important it is and what kind of influence it has on the market and futures is something we have to investigate," he told reporters in Osaka, Japan after the June 13-14 meeting.

Strauss-Kahn said it was not clear if speculators were a factor, but that some G8 ministers wanted this looked into. Separately he said that he expected the slowdown in the world economy to rein in oil prices that have touched record highs.

See how the other G7 leaders can't figure out the obvious? If Strauss-Kahn were to read my news service, he would understand exactly what is going on! How can a person who is very deep in the heart of the ruling elites in Europe not know that all the big investment banking houses in Europe and America are all ganging up in the oil futures markets and driving up the cost of oil? Of course, he knows. Everyone knows. HE IS LYING. And the FBI should arrest him. Or Interpol.

A biological, fermentation-based process starting from renewable sugars offers the most compelling economics. However, petroleum products could not be made in this way. Until now.

LS9 Renewable Petroleum™ technology enables the rapid and widespread adoption of renewable transportation fuels. Patent-pending DesignerBiofuels™ products are custom engineered to have higher energetic content than ethanol or butanol; to have fuel properties that are essentially indistinguishable from those of gasoline, diesel, and jet fuel; and to be distributed in existing pipeline infrastructure and run in any vehicle.

There are all sorts of clever ways to produce high-energy fuels. And improving vehicles so they run better and more efficiently. After all, even with today's skills, we don't have totally aerodynamic vehicles! They are not made light at all. They have to crash into each other and thus must be heavily armored. There are no spring bumpers on them, for example. About 45 years ago, I suggested the 'bumper car' type of perimeter that would absorb all shocks and cause no damage. Instead, now we have NO bumpers at all on any vehicles, not even trucks. They have fancy quarters that shatter easily and cost a fortune to repair.

So I hope that not only new fuels arise but a whole new system of making cars work. We can't afford this expensive and incompetent style of vehicles for much longer. I really resent paying $1,000 a year on insurance for fixing these stupid, fragile, useless car bodies.

'World's first' superconducting car

THE ASAHI SHIMBUN

Sumitomo Electric Industries Ltd. has developed an electric vehicle with a motor that uses superconducting technology.

The car will be displayed at an environment fair in Sapporo from June 19 to 21. Boasting a high motor torque, it has a maximum speed of 85 kph. At 30 kph, it can run for 2 hours.

Applying superconductivity technology, so far used for linear motor trains, to road vehicles is a world first, according to officials who unveiled a prototype car here Thursday.

I hope this creativity increases. It will, so long as we realize there are limits to cheap oil and cheap credit.

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Comments

[Christopher]

Hello Elaine:

There have been some articles in Der Speigel outlining a theory that Israel is getting ready to attack Iran.

http://www.spiegel.de/international/world/0,1518,559925,00.html

I was curious if you agree with the premise of the article and what you believe the probability of a strike against Iran might be.

Thanks,

[Carli]

Elaine, in the Philippines premium unleaded is now (the equivalent) of $4.98 per gallon. Prices have been ratchetting up 5%, weekly. That's 3rd World prices (our government prefers 2nd World).

In N.Y. it is averaging $4.08/gallon. The U.S. average is $4.09/gallon (http://www.eia.doe.gov/oil_gas/petroleum/data_publications/wrgp/mogas_home_page.html) You guys still have a ways to go, and believe me "they" will bring it on!

It never ceases to amaze how your fellow American can unconscionably manipulate and calibrate these prices. The U.S. and European commodity traders are doing more damage to the U.S. and European peoples than China, Japan, and Russia put together.

In fact while it is arguable how China's financing of US debt is leveraging America, the truth is, it is how the US government chooses to use that debt (for war rather than rebuilding) that has the country in a pickle. They use Iran as the reason to starve and run Americans out of their homes.

The same guys who outsourced all the American jobs to China and India. The same guys who import "their tainted and toxic products" into the U.S without quality controlling their outsourced products. The lack of clarity is blinding. Perhaps it is is time to redefine terrorism!

Amerika needs someone like Guy Fawkes to wake it up.

[blues]

"Let us think and hope that this is the last time there will ever be another dollar spent without constraints, without conditions, without direction," — Nancy Pelosi, after the Democrats (generally speaking) contributed 162 BILLION for WAR. Here's how they all voted:

http://clerk.house.gov/evs/2008/roll431.xml

The first dope dealer who makes it past the Capitol door will be permanently extremely wealthy.

I can't see why the people at so many blogs go on supporting Obama. Will he filibuster? I don't think so. I will go for Nader and the Greens, etc. Enough already. This is $162 BILLION MORE for what? For what?

[Elaine Meinel Supkis]

The gatekeepers are still the mainstream media. They have near total mind control. Several times in my life I have watched even violent anti-war sentiment that is severe yet no one running for President dares stop any of our resource wars!

Bush can be totally unpopular but still, he gets covered and protected by big business and the media. Anyone who has even the slightest hint of not being 'controlled' by big money is DITCHED OR KILLED. So we end up with Warmonger #1 and Warmonger #2 and both rush to embrace all the Daddy Warbucks and the central bankers who want wars and debts to be eternal.

And this is why ALL empires go bankrupt.

[Elaine Meinel Supkis]

Israel has launched several 'pre-emptive' wars and they are the beating heart of the Apocalypse. Which will happen if millions and millions of people want a Final Battle. And history tells us, 'If people want a Final Battle they will get a Final Battle.' History is a bitch.

[blues]

I saw their true nature when working for their "companies." For some strange reason, the "general manager" of the company was quite visible behind a glass window between his office and the lunchroom. He had started, they said, carting stuff around in a wheelbarrow, and gravitated up the ranks. He could not have been the least bit like a guy with a wheelbarrow. He was then a total corporate bog, essentially a machine. I see that in Obama. It's just there. He puts on a mask, but it can be seen through.

Like you say, if he rebelled even slightly he would be ditched or killed. In fact one of the vice presidents actually got shot to death on a golf course. Bang! Dead! We had a "minute of total silence in the company. Shit if I had been electrocuted plugging in one of their 440 Volt machines, there would just be, well nothing. I always knew the guy had not been shot for playing golf, but I was much younger. Jordan Maxwell said it in Zeitgeist, (something like) "Once you begin to seek the truth, you see lies everywhere... You've got to seek the truth, and know the truth, and the truth will set you free." Must not be too many out there seeking the truth! I think there are many more these days than when I was younger. BushCo has really opened the old curtain. But they seem not used to the truth. I am afraid most only see the truth when they are about to die, if even then. The real trick is to resist death. Most Americans, in particular, are not used to dealing with that!

[Gary]

Its amazing how truly caring and idealistic people change when
they enter the American political system. The system is like
the Borg in Star Trek. It takes them in its slithery, steamy embrace
and they emerge like zombies.

The best comparison I can think of is that ultimate horror movie,
"The Invasion of the Body Snatchers". Its no surprise that this movie came out of the conforming 50's and it has to reflect the state of mind of America then---and now. The movie touches a huge subconscious fear of Americans today that in a very deep way a lot of our friends and family are more loyal to the powers that be instead of eachother.

Power, unless checked, has to be an evil terrifying thing. It devours people that enter its proximity and often wrecks all ties
to people that were "left behind".I see this a lot in my job. People that were once quite decent people suddenly become remote
and inacessible once they went into a higher position in the food
chain. Especially a management one. I had a very good friend that
I used to do a lot of climbing with--Rainier,Baker,etc etc. Once
he entered management the friendship vanished like water on
the road in Death Valley.

[blues]

I've seen just exactly that, Gary.

I know that routine by heart! The truth is that people who get "promoted" are really expected to abandon their "un-promoted" friends. This social atomization is reinforced in just about every venue of life. In fact, you probably would not be communicating with me in the real world. This is the internet. I am somewhat old, a former electronics geek. It scares the hell out of me that that entire profession virtually does not exist here anymore. You could still go to school for it, but that would probably not be smart. Fixing electronic stuff really pushes the envelope of your imagination.

Anyway, many psycho-therapists, AA-type operations, cults, and advisers of all kinds will tell people to throw their friends overboard. Once you do that, you lose part of yourself. Maybe most people have done it. In a way, that is really an excellent reason to know some people who have never been "promoted." They have a kind of strength you don't find everywhere.

[GK]

Your articles today are so F*^7ing brilliant I am speechless!

[john]

Elaine,

Your comments on gold are just as clueless as your articles about so called Peak Oil

[john]

Elaine,

Your comments on gold are just as cleuless as your comments on so called Peak oil

[uk taxpayer]

Fact is the five dollar tumble in the price of oil, could not be sustained, so the recycled threat about the israeli shenanigans, and up, the price jumps.

[hans blink]

Dear John
Your statement "Your comments on gold are just as cleuless as your comments on so called Peak oil" implies you know better. Can I ask you to tell us what you know or the old expression "Shut up or put up"

[Carli]

Hans, I second your motion. While we can agree to disagree, we do so respectfully. As the proverbial saying goes, an empty can makes a lot of noise. So enlighten us John, you have the floor!

[Elaine Meinel Supkis]

Everyone tries to develop a system of beliefs. Then they cling to it no matter what. I go out of my way to explain my own take on reality. This clashes with belief systems of many sorts set up by OPERATORS WHO ARE SELLING STUFF.

The sites online that talk about gold nearly always are SELLING GOLD. I am selling nothing. So they LIE about a lot of things. Or express cluelessness when things happen. THIS IS DELIBERATE. This is why one should visit anti as well as pro whatever sites!

I expect readers to look at all sides of an issue. I can be wrong about things and I read comments to learn things. Readers send me links via email and I look at them and try to learn things.

But I don't want to paint myself into a corner with a belief system that renders events meaningless. For example, gold sellers are sweating bullets trying to convince their victims that gold is a great 'investment'.

IT IS NOT. It can suddenly rise in value and when it does this, it is a good indicator that interest rates must go up. But if you look at it as a store of value between bubbles---and it has bubbles just like so many other things---it is a very poor store of value compared to other things. It can't even reflect inflation properly.

We see this very clearly: people buy gold WHEN THEY HAVE SAVINGS. When savings are impossible due to inflation of necessities, gold drops in price just like houses, cars, Wall Street, etc. The 1970's gold rush was unique because the price of gold was 'off the markets' from 1933 to 1974. Then it was suddenly released and all the pent of value shot upwards.

The last 5 years of gold's rise was a bubble due to it sopping up a lot of the extra cash churned out by the Bank of Japan and the Federal Reserve. But now buying oil is sucking down all this cash!

Peak Oil: so many people want to imagine that it means 'no oil'. This is stupid. Peak oil is when HALF of the oil has been consumed OR discovered. It is when there is the MOST oil.

The presumed oil in the ground being touted as 'great finds' end up being far, far, far less than the Saudi finds from 1940-1980. And much of these 'finds' are in very difficult to reach places. When the ice melts in Antarctica and Greenland, both will reveal to have lots and lots of oil and gas.

But why must we consume all of this as fast as possible? This is so nasty and greedy of our generation, when the Real Dark Ages commence, our future generations will curse our names. Anyone who believes there is NO peak ever are crazy.

The high prices today are still political: war talk, war mongering raise the price of oil again and again. But this is a great opportunity for us to wean our society off of dependence on fossil fuels. We must take this time and use it wisely, not stupidly.

By the way, this was a standard part of my 'Hubbert Oil Peak' speeches I gave back in 1974.

[GK]

The Gnomes are very busy cranking out money and having sex parties, so they sometimes get a little lazy when writing future history, so they just recycle old history tricks every 60 years after the folks who actually experienced it are dying off or senile.

I have helped them here doing a cut-and-paste of an awesome period of wealth consolidating starting at the 15th birthday party of the Federal Reserve creation.

http://americanhistory.about.com/od/greatdepression/tp/greatdepression.htm

1. Stock Market Crash of (2008)
Many believe erroneously that the stock market crash that occurred on Black Tuesday, (August 28, 2008) (magik 08282008) is one and the same with the Great Depression. In fact, it was one of the major causes that led to the Great Depression. Two months after the original crash in (August), stockholders had lost more than ($4000) billion dollars. Even though the stock market began to regain some of its losses, by the end of (2009), it just was not enough and America truly entered what is called the Great Depression.

2. Bank Failures
Throughout 2009 over 9,000 banks failed. Bank deposits were uninsured (when the FDIC
collapsed) and thus as banks failed people simply lost their savings. Surviving banks,
unsure of the economic situation and concerned for their own survival, stopped being as willing to create new loans. This exasperated the situation leading to less and less expenditures.

3. Reduction in Purchasing Across the Board
With the stock market crash and the fears of further economic woes, individuals from all classes stopped purchasing items. This then led to a reduction in the number of items produced and thus a reduction in the workforce. As people lost their jobs, they were unable to keep up with paying for items they had bought through installment plans and their items were repossessed. More and more inventory began to accumulate. The unemployment rate rose above 25% which meant, of course, even less spending to help alleviate the economic situation.

4. American Economic Policy with (China)
As businesses began failing, the government created the (McCain-Lieberman) Tariff in
(2009) to help protect American companies. This charged a high tax for imports thereby
leading to less trade between America and foreign countries along with some economic retaliation.

5. Drought Conditions
While not a direct cause of the Great Depression, the (flooding) that occurred in the Mississippi Valley in (2008) was of such proportions that many could not even pay their taxes or other debts and had to sell their farms for no profit to themselves. This was the topic of (Elaine's Culture of Life News).

[GK]

OMG, I just realized that 08282008 is the last day of the Democratic Convention in Black Helicopter Denver.

Every wonder why American's are not figuring this out?

http://rattube.com/blog1/2008/06/21/chemical-dumbing-down-of-america-fluoride-and-vaccines/

[peter]

i have posted my remarks and URL links that support my arguement but Elaine is not better than the rest because it goes smakc against her silly anti-gold and Peak Oil nonsense

[Elaine Meinel Supkis]

Gk, good. You notice it is a magic number day. Yup.

Peter, when you have many links the Typepad robot that prevents spam deletes the message EVEN IF IT IS FROM ME! I have no control over it at all.