The Truth about oil.

Obviously, by now, your life is being affected by the price of oil.

(1)Why is it being bid up to these ridiculous prices ?
(2)Why is China stockpiling millions and millions of barrels of oil ?
(3)How much oil does Saudi Arabia really have left ?

Let me attempt to answer these questions for you.

First of all, you have to understand that just because we (the United States) claim to have a certain amount of "oil reserves"; that oil is in the ground and it would take several years with drilling, refining, transporting, etc. before it could be pumped into your gas tank or used to lubricate machinery. It's like having a "money reserve" in the bank at 6 PM on a Friday...you can't get to it for a few days.

(3) In 1979 Saudi Arabia had 110 billion barrels of oil in proven reserves. Since then, about half of that has been extracted and exported. Without any new oil being found, they now claim 260 billion barrels in reserve. Kuwait added 50% to its reserves in 1985, Venezuela doubled its reserves in 1987, Iraq and Iran doubled their estimates in 2001.
How can this be ? With no new reserves being found in any of these countries and their pumping and shipping millions of barrels of oil daily, how does the amount go up ? The answer is easy; they have a new math. Actually, they're running out of oil and are trying to "cash in" on what's left.

(2)China is only using about 5% of the oil that its importing and stockpiling the rest (millions of barrels each day). Why would they do this ?
Besides their rapid industrial growth, they've taken a lesson from the past. That lesson was WW II. The main reason that we won that war was that WE controlled the world's supply of oil and Germany and Japan had thousands of planes and tanks unable to be used because they were running out of oil.
China is preparing for WW III by buying all of the oil that it can get, at any price.
The good news is that our idiotic Congress will not permit the drilling of our reserves right now. The bad news is that China is drilling just 60 miles off the coast of Florida, taking oil that should be ours.
Even though we are the most powerful nation in the world, with an unbeatable Army, Navy and Air Force; a world war that extended for any period of time would be lost by the United States because our enemies would put an embargo on oil being shipped to us, bring our industries, planes, ships, etc. to a screeching halt (because our oil is still in the ground and under the ocean).

(1)The price of oil is being bid up by the OPEC nations that have trillions of dollars invested in their Sovereign Wealth Funds and use brokerage houses in England to do this commodity trading daily. Interestingly, last week a well know U. S. airline tried to buy aviation fuel futures and their order is still unfilled a week later. The oil futures market is being manipulated and controlled by these huge Sovereign Wealth Funds.

So, what's the answer ? The only obvious course is for us (while we still can get oil) to aggressively invade the OPEC nations and take their oil. Short of that, our future is doomed...
Ever wonder why we send foreign aid to oil producing nations like Saudi Arabia, Iran, Iraq, etc. Right now, Iraq has a $40 billion surplus of cash and we're paying for the war over there while they sell their oil to China. What's wrong with that picture ???

Regardless, all of this is your fault, the "die was cast" at the end of WWII and since then you've let all of this happen by electing a Congress that is both ignorant and self indulged. You deserve what's coming next because you've done nothing to prevent the next big event that can still be prevented (just like 9-11 could have been prevented).
Get clear about this...your lifestyle is already changing (for the worse) and your children will not have a chance at all.