What the oil execs didn't tell you

[robk2020]

Which has MORE advantages and FEWER disadvantages:

1. A Centrally Planned Government Economy; or

2. An Economy where Production is in Private Hands

Ask someone who lived in Soviet Russia or North Korea before you answer.

[mrmultidextrous]

You're wrong. The oil price collapsed because demand fell off because of the spike in prices. Real data from all sources say that we have entered into peak production, and oil production will decline. As to the value of oil, I think it's actually pretty cheap. If you think that oil is too expensive, then stop using it. I agree with you that a speculative bubble drove up prices, it is indeed a strange bubble, but history is filled with speculative

bidding up of commodities.

[babyface1523]

I agree with you a 100% and whoever gave you a thumbs down is economically retarded! Demand fell, causing a drop in prices... The U.S. was the largest oil consuming country in the world by a wide margin... Now china is not far behind, whether this guy wants to admit it or not we dictate the market as much as speculators!

[happyphil3]

Something the mainstream media should talk about!!

[esiewm]

Oil goes past $200? Gas goes up to $5, $6, $7a gallon? Fine let it.

The American economy will collapse anyway. I say let these oil executives rip us off, because sooner or later, its going to remake society, causing a major change in what people consider "important". Once the grim realities of our economy set in and we are out of the mindset of endless wars with muslim nations and supporting the retard in the white house, THAT will be the day that oil executives will be in real trouble.

[CCPnoob]

maker of this video - your stupid

For example each year 5-7% more chinese own cars - currently 16mil own cars and whats 5% of that? thats 750,000 more people will drive cars this year - each year that number will increase! - and oil production is on a plato - before it was rising with demand now deman rises and production doesnt.

[MrMikomi]

What a heap of tosh this video is. The problem is that current demand exceeds current supply. Therefore rationing is taking place. It's that simple. Speculation my ass.

[movax12]

This video is almost completely incorrect. The truth is:

1.The US borrows+spends for the past 10 years.

2.Poor lending practices and easy money create a housing bubble.

3.Bubble pops-credit and mortgage markets collapse, made worse by point 1.

4.The FED props up the market as banks fail, creating inflation.

5.Oil, priced in US dollars, goes up in price->inflation/weak US$

6.Those that can,invest in Oil to hedge off inflation. (price is partly speculation, much greater is inflation).

[rancholosmalulos]

We own a ranch where Exxon has huge proven reserves. But, they just let them leak out on the ground. I think they want to keep the "proven reserves" on their books as assets. That is why they don't drill the oil and gas they know about. Exxon has billions in "proven reserves". Perhaps, they keep it in the ground to control the price.

[RoboStereo]

I've seen videos for water cars, hydrogen cylinders, extremely powerful electric cars, hydrogen torches, & many other perfect solutions. The best was one that showed how to make a candle out of a nine volt battery some copper wire, and a cup of saltwater. The clean technologies are simpler than you would ever believe, but the problem is how fast they dissapear. If you learn how to do these things on your own, just use the plans for yourself and distribute them anonymously, Or you will dissapear.

[Redtide]

hi Wkool, know where u are coming from. But Peak Oil theory is flawed because it is based on where we can dig if oil is USD40 a barrel. Like in Alberta, u can get 177Billion bbl from oilsand. If money not an issue, maybe 1.3Trillion. So peak oil is a old data still used by oil company to con. Check out Lindsey Williams - The Energy Non-Crisis - Part 1 of 8 and Confessions of an Economic Hit Man. They basically said the same thing though not related to one another or Daniel Dingel water engine.

[vvkool]

Duh. Of course consumption is flat because you can't consume more oil than is pumped. That's what Peak Oil means.

Look at the US governtment's own figures maximum crude oil production was in 2005, yes 2005. 73.81 mmbopd from the EIA.

The USA had its own way for decades cosuming 25% of the world's oil for 5% of the population. As a net importer! Now the US has to compete with other countries and the pain is showing.

[Redtide]

This is true if u can believe anything the US govt nor the media is saying. They are all controlled by the same oil money and big corporations. The US govt is utterly corrupted and it doesnt matter who u vote in, they will do the bidding of their money master.

[vvkool]

Redtide - there's no reason why the EIA would publish false figures for worldwide crude oil production - the numbers are easily verified from other freely available sources and likely indicate a plateau phase in oil production.

In general Western Democratic Governments pretty much let you get on with your life and say what you want. Just try that in other parts of the world. Enough of the paranoia.

[emforty2]

I would like oil supplies to run out so well find new sources of clean energy

producing more oil ain't gonna solve the problem as the root of the problem is not technology or supply its "GREED"!

[sparkyboy1983]

If oil runs out we all die! Good thinking batman!

[jeremydreher]

do you honestly think either will happen. Money is to be, the oil will be found, alternatives will either be deemed not viable economically or killed off by those who pump the oil. For better or worse we are stuck with oil. The only way we will have both is remove these blood sucking politicians off the face of this earth

[familyfun99]

yet another conspiracy....not. The major US oil companies only control 15% of world oil production.... hold onto your butts, peak oil is real and it is here. Worldwide production will only decline from here; and that includes enhanced recovery for existing fields and difficult production such as oilsands and oilshales

[circusboy90210]

really you talking peak as we are finding reserves even bigger than the saudis hae allover the world? not to mention nat gas deposits that are hundreds of times larger than that all over the world. Get Educated , you really need it. Have a day ;-)

[familyfun99]

I assure you that is false; I have worked in the E & P business for 30 years. If you are older, like me, then it's no big deal.... however if you are young, hold onto your butt ... the long emergency is just beginning

[circusboy90210]

THen your telling me that we did nto find 13 trillion bubic feet of nat gas in idahoe.What about the oil deposits' in the dakotas' fromthe news I've been seeing on all different sorts of media. We have 300 times more resources than the saudis here that are being denied axcess to because of outdated thoughts concernign drililng technology.

[familyfun99]

Good Luck Circusboy, with your conspiracy theory way of life

[circusboy90210]

it's not a theory when it's true. ;-) it's only conspiracy. when groups of people get together to decide thing that are beyond your control, it's a conspiracy. fact.

[vvkool]

circusboy - you're taking out of your rear. We are not finding reserves even bigger than the Saudis all over the world. Far from it.

get educated! LOL. Clearly you ain't ever done the most basic learning about oil exploration and production.

[circusboy90210]

Dude that's all I do all day long. I"m very educated about this. Probably too much. My neighbor is in school for oil Geology & I'm getting an education proper through osmosis,& what I research on my own. I also have plans for prototype vehicles in process.Currently seeking venture capitol & earning my own moeny to put towards this means. I have a virtual phd in transportation issues as I have been traveling all over usa & canada for many years, learning all the time about all this. ;-) haveaday

[vvkool]

A virtual PhD - yup, certainly seems like it.

[circusboy90210]

what more can you expect from somebody who has spent almost their entire life traveling. So really this is better than a univeristy education, as in the fact that I did not see pictures in a book. I touched & felt the real deal. I talked to people who really know what is going on, not some prof. who has never left the ivory towers of bs.

[CCPnoob]

btw circus boy is an idiot also :) - a PHD in transportation issues (which does not exist unless you can give me a more definitive phd category) DOES not at all qualify you for enegy consumtion and or economics. - If oyu have a PHD you also have ccredentials so post them here or link ous to a place you can see them sir.

[pwdrhead1711]

Ignorance is bliss. I started going to China and India in 1995 and I go every year, I've seen the growth with my own eyes. I don't believe anything I hear from you, Exxon, Bush, or Obama. I only believe what I see first hand, the unpresedented growth of China and India. I also see the transfer of wealth from the oil consuming nations to the oil producers. The UAE, Saudi A, Iran and Venezuela will soon be some of the richest countries in the world. Exxon will be the least of our worries.

[halo9x]

Let's not forget that Congress is doing everything they can to prevent domestic drilling into new areas of proven supply. Congress is the real culprit. Ignorant people like Nancy Pelosi and Maxine Waters just to name two!!! So go ahead keep on re-electing the same people responsible for our pain at the pump! Then blame yourselves!

[Needlesome]

dummy, lets put a pump in your backyard and see how you like it.. You big stupid greedy conservative dooosh...

[halo9x]

I would love for them to pump oil in my backyard...

[nsra1933]

I agree that it's the seculators that is causing the oil prices to climb. But where are all those liberals who once said Iraq war was for oil? Burying your head now eh?

[Needlesome]

Yeah dummy, I am burying my head,,, just as far as your lying, blood on their hands, Republican criminals who said this war would pay for itself and rebuild Iraq with oil profits.. Get a grip and put down the crack pipe..

[nsra1933]

judging by your name I'd say you're the one who needs to be putting something down.

[nofxmeosker]

This video is ridiculous...

'Supply and Demand my ass' Are you kidding me? that's as idiotic as saying 'Evolution my ass' or 'Cause and Effect my ass'!

Oil companies make less than 7% profit margins... you can make a better return shorting financials... you know what you call an investment that makes you 7% profit? A failure...

Daily Supply: 85 million barrels per day

Daily Demand: 87 million barrels per day

When demand < supply, prices go up... your ass ...

[miketheday]

Not to mention the devaluation of the USD.

Great video and info! I had just read an article on this a few days ago.

[fredocorleone]

Goldman would be bankrupt right now if the FED didn't bail out the investment banks.

Goldman thanks the American taxpayers by using the FED's bailout money - U.S. treasuries - as leverage to speculate, run up, and hype up the price of oil. Kind of counterintuitive for the FED to bailout the investment banks when those banks plan to counteract the FED's moves...

The investment banks need to die. It's corrupt that the FED actually helps these investment banks to screw us consumers.

[nameofthepen]

At 1:32 is mentioned the major problem faced by "Big Oil".

But I bet keeping the lid on the news of several alternative, non-polluting, never-ending and CHEAP sources of energy is a problem, too.

[flyhye]

good post my friend, i am subscribing

[realman2020]

There is an oil bubble that will pop real soon. This how the big bankers will steal out stocks ,bank accounts and 401k funds. They will allow all our funds we pay to be used in these hedge funds. These investers using our retirement money are being baited the price will rise to $200 thinking they will cash in on it hiking up that high. I see when the price of the barrel gets to $160 while everyone betting it going higher will have the rug pulled out with a barrel of oil plunging down to $50.

[colmmernagh]

" T.boone Pickens " now thats a good ole american name if i ever heard one.

5 Star for the message !!

[jashepard]

thanks friend.

[yostevoak1]

Iran's threat to leave the dollar for the Euro, and our threat to invade is what's driving spectulation in my opinion right now.

[colmmernagh]

As far as i know they are already trading with the euro.

[jashepard]

they've gone to euro already, for a while now I believe actually, so no absoluteley no reason for speculation of high prices

[yostevoak1]

I'm surprised you support Ron Paul. There were fatcats questioning fatcats in that. The real reasons were never discussed for sure. Oil companies have been shutting down refineries, hiding oil, and sitting on leases. If this was real peak, they'd be running to alt. energy. However, our govt. is just as much to blame for allowing it, and inflating our dollar by overspending and the fed for lowering interest rates.

[annie46664]

EXCELLENT video!

[2resist]

What about the federal reserve pumping in tons of money on the market devaluing the dollar? Oil productivity has not increased as promised by opec. A increase in oil supply would still mean a high profit. This would lead me to assume no increase in cheap oil is possible. No poor man ever me a job. If the government has a windfall profit tax, they will take your eye of the real problem, themselves. Our federal reserve is manipulating the dollars purchasing power.

[2resist]

No poor man ever gave me a job.

[jashepard]

Oil productivity has decreased in the U.S. because our demand has fallen this year due to the weak dollar, next to this supply around the world is actually in over-stock, yes it is true look it up yourselves, big oil has many many many more fields to still tap into, maybe if the oil industry was a transparent market more people would understand they are cheating, why do you think the senate can't even find out why this is happening, central banks run the worlds cash flow, and big oil loves them.

[2resist]

Oil demand has decresed in the US since the 70's. "Many oil fields" are not cheap oil which is easy to get and easy to refine. I have read congressional reports on "peak oil" and congress is aware of this. Ron Paul knows about the devaluing dollar, others in congress do not understand or deny basic economic principles. We have exponential growth in our society. Exponential growth means exponential demand. Oil companies make 8 cents a gallon while our government gets 48 cents a gallon in taxes.

[jashepard]

From what I know since nobody knows not even our congress Oil companies make alot more than 8 cents a gallon from gas the market and their profits aren't transparent all profits and planning is done in secret, i'm sure there is a report with many federal loopholes that says 8 cents but they make much more of a profit than that, especially their buddies in finance institutions and banks which i'm sure thay have a hand in that cookie jar to add to their profits.

[2resist]

I believe all of these problems are a factor in oil prices. For congress to create a windfall profit tax will do NOTHING except line our governments pocket so they can blow more money. You will see no result from this other than even higher prices and less oil. YOUR GOVERNMENT IS CORRUPT, they need less control, not more.

[gerry301]

I believe the oil execs correctly pointed out that every gallon of gas provides .09 cents in profits to the oil companies while government taxes provide .42 cents per gallon in revenue to the government.

[perseverance8]

It looks like right now people are pointing their fingers all over the place, sooner or later the real causes will reveal themselves after the dust settles. Personally I think the major reason IS peak oil, I do think demand is going up and it is obvious because all supplies are being consumed whenever they become available and supplies are flattening off! that very well could turn into the biggest crisis of modern history, like it or not. In fact a handful of 'oil men' are admitting the truth!

[MuddleVanHeck]

Excellent video. Thanks.

[jashepard]

also the oil istelf is the reason many things are going up, consumer products, food, bills, almost everything is affected by oil, the oil speculation is hurting the market as well, i'm sure you know that though just pointing it out.

[perseverance8]

I was thinking up until recently that speculators were a big problem with the rise in fuel, now I think by looking at the numbers coming out (even if they're massaged)its not speculation, currently it looks like people actually are hoping that it is speculators because if its not, hold on tight were up for one hellacious ride!

[jashepard]

Yes, gold, silver, and platinum are skyrocketing as well while the dollar's value declines because the demands for these metals have increased to replace the dollars misfortune, sort of like a back up investment, oil on the other hand even though tied to the dollar is at a flat demand this year and production is up, gold and silver are a more transparent market then oil, we have to grill big oil to understand why they're making profits, the dollar is not the problem in this case, speculation is.

[perseverance8]

Demand is up and will continue to rise, the reporting people are mistaking are decreases in US demand which has flattened and looks like it will creep downward, but the lowering in our demand is being gobbled up by the rest of the world namely Asia and its not just oil, heck its every kind of commodity steel, copper, grains, rice, etc. And while demand continues to rise the dollar (which most commodities are denominated in dollars) is dropping which makes the price seem lower to global buyers.

[AzraelsJudgement]

The only problem I have is oil is not the only thing going up. Gold, silver, platinum are skyrocketing as well. It would be hard to find anything going down in price in dollars. The major problem is oil is tied to the dollar which is declining in value.

I am not saying you are wrong the oil companies are a cartel and cannot be trusted.