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Thursday

A Hoax to Control Oil

A Hoax to Control Oil



Oil reached $147.27 per barrel on July 11. Today it has dropped to $117.11 per barrel. In January of this year the price was $99.62 per barrel. What caused the price jolts? No one in a position to know is talking publicly.

Television news, Business Week, Newsweek and most other media outlets have been telling Americans that the cause of the higher prices is the growing demand in China, India, and elsewhere. After all, they told us, those countries now have growing middle class societies that drive cars and they have industries that require the use of oil. Ted Koppel’s: People’s Republic on the Discovery Channel showed American style freeways filled with cars that helped to reinforce this image. Many of us thought, “Wow! The rest of the world is catching up with America. That’s why we are paying more at the pump.” So, what happened? Perhaps Big Oil, Big Lies is the best we will ever know.

Remember when the cost of electricity in California spiked dramatically? It seemed that we had to blame the state legislature for the mess. Actually it was a manipulation of power generating equipment led by Enron. A recording was made of an oil trader laughing about how they had manipulated the cost of electricity. That manipulated shortage went away as quickly as it arrived.

The problem is the gullibility of the American public. What is worse about this current manipulation is that the media, for the most part, has gone along with the explanations offered by oil companies and the Federal government. I am not in a position to do the investigation of this hoax. This item from CBS on May 29, 2008 has not received any follow-up. Manipulation is not the same as speculation. Will anyone do the investigation?

Source: coastcontact.wordpress.com

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