Thread: Big Oil and the Truth
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Old Feb 27, 2008 | 08:21 AM
  #39 (permalink)  
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BrianBrave
<--- Huge Horsepower
Joined: Apr 2007
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From: So Cal
Default Re: Big Oil and the Truth
Here a few questions for you all to ask and do some research on.

When Iraq torched the oil fields in Kuwait in GWI (1991) what happened to the price of oil and gasoline? Remember all the fires?

A barrel of oil rose from $18.87 (1990) to $24.06 (1991) then dropped back down to 15.41 (1992) and rose then to $15.98 (1993).

http://tonto.eia.doe.gov/dnav/pet/hist/wtotusaw.htm


Now oil is $102 a barrel? Why, well supply and demand, the USA hasn't build any oil refineries in like 20 years - yet we always have gas at the pump, the oil companies never seem to run out of gasoline to sell.

So let's look at US oil production:

http://tonto.eia.doe.gov/dnav/pet/hist/mcrfpus1m.htm


If you look at these numbers you will see US oil production as dropped big time from 1990 (right around GW1) of 234 Million barrels of oil per month to 150 Million barrels of oil a month in Nov 2007 - that's a 36% decline in production.

Oil fields in America are not running dry. The oil companies a shutting them down.

Why, to manipulate supply of oil and force themselves to import oil from the international spot market (of which they own a huge majority of foreign oil fields) so they make a huge profit from that market.; then they mix that high priced imported oil with the cheap domestic oil they produce at $5 a barrel and charge you the consumer the international spot price.

BOOM - Instant Billions in profits every quarter (3 mos)

http://finance.yahoo.com/q/is?s=XOM

It's called the fleecing on America and we all just stand back say - Ah! Da!
 
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