We are but Pawns on the chessboard of life. @oann
Today’s news regarding the slide of oil prices brings back the memories of the volatile world in which we live and just how much of it centers around our lack of energy independence.
Still fresh in my mind are the long lines at the gas pumps of the “world coming to an end” oil shortage of 1973.
Much like the world ending “Global Warming Hoax,” I do not trust any of them. (with good reason…they lie!)
If you really want to know what it means…follow the money… Who gets rich if we stop using coal, or we all use sunshine and unicorn magic instead of fossil fuel? If Al gets to sell you his carbon credits that he already has printed, who gets the money for them, and what do they do with that money?
Many of my readers are too young to remember or know about the oil shortage hoax, so for those of you that were not driving in the 70’s here is the deal.
In 1972 Gas was about .50 a gallon. $5 dollars would fill my car…The price per barrel of crude was $14.00. Minimum wage was $1.85. I made minimum wage for a while until I went to work flipping burgers making $2.10. “I was of course in school; this was popcorn, gas and movie money.”
All of the sudden there was this “Energy Crisis!” We had gas lines and limited supplies. According to Carter, we were going dry and in a few years’ time, there would be no more gas…ever!
There were oil tankers crashing into each other as well as running in to under water obstructions spilling millions of gallons of oil into the ocean. The shipping lanes, which they had navigated safely for years prior and years since; all of the sudden became more dangerous…?
My contention is that those ships were sitting off shore waiting for orders to make their delivery and ran into things because they were in places that they should not have been.
As Americans went from paying .50 cents a gallon and allowed to purchase all the gas that they wanted, that changed overnight. Suddenly it was mandated as to how much and when we could purchase gas. No more than 10 gallons on odd or even days depending upon your license plate, and of course, the price jumped. Like sheep, we fell in line because our leader was someone we could trust, and if he told us this, we would do it.
President Carter responded to the crises thusly…. This is part of his speech…
“The oil and natural gas that we rely on for 75 percent of our energy are simply running out.… World oil production can probably keep going up for another 6 or 8 years. But sometime in the 1980’s, it can’t go up any more. Demand will overtake production. We have no choice about that.”
“To some degree, the sacrifices will be painful—but so is any meaningful sacrifice. It will lead to some higher costs and to some greater inconvenience for everyone. But the sacrifices can be gradual, realistic, and they are necessary.”
“We must not be selfish or timid if we hope to have a decent world for our children and our grandchildren.”
This is not the first time a sitting president has lied to us….Nor will it be the last.
Oil production during this period was steady with a slight linear progression all except one…The Middle East.
In 1970, The Middle East topped the oil production of North America, continuing its production to 21.894,000 and in 1974 to finally peak in to 22,020,550 in 1979. At which time they cut production back to a low 10,645.400 1984.
There were other players in the market, but make no mistake, the Middle East was the driving force.
During this time, Asia Pacific was ramping up its use of Oil… In 1979, they peaked usage to 10,917,244 barrels a day. At this same time, North America was sitting at 21,483,623 with the largest consumer of oil being Europe and Eurasia coming in at 25,117,430 barrels a day.
The problem was the OPEC Embargo. Egypt and Syria announced that they were no longer selling oil to countries that supported Israel. Less supply of oil caused prices to rise 134%. In response to this Saudi Arabia, Iran, Iraq, Abu Dhabi, Kuwait, and Qatar unilaterally raised prices by 17 percent.
These events caused issues with our markets and eventually negatively affected our GDP.
Once again, we were held hostage over oil in the 1979 Iranian Revolution. OPEC once again raised prices by another 14.5%. The US then halted Imports from IRAN and Kuwait, Iran and Libya cut production. Saudi Arabia eventually raised the prices of crude to $24 a barrel. These factors brought an increase of oil up another 118% in one year. The Gulf War precipitated another increase of 113% in 1990… This adversely effected the strength of the US dollar as the feds started to lower interests’ rates.
We had long lines at the gas pumps because the Middle East who we now relied upon for oil. Years of negotiations finally eased supply but the price was no longer .50 a gallon. Today the barrel of oil dropped below $30 a barrel. If things were equal that should make a gallon of gas about a dollar.
These are the scant few facts that history tells but… I would really like to know the rest of the story. Who profited? Why did Carter fill our heads with lies? Who was pulling his strings?
The Embargo that inconvenienced millions was a political play. Today we have a glut of oil on the market bringing the prices down to record lows taking the world stock markets with it. They are blaming the glut on less demand … are you trying to tell me that there are less cars?
The Middle East for some reason, “economics” is crushing its competition by making oil supplies more abundant. This adversely effects the other oil companies, as now exploration…fracking… and other sources of obtaining oil is no longer profitable. With oil at $30.00 a barrel, all of the oil producing countries of the world will be effected, with Russia, amongst one of the countries hardest hit.
Enjoy your cheap fill-ups as your 401K is adversely suffering because of this.
- “Do they still teach economics in school?”
- “Have they common cored our people into actual stupidity?”
If the kids of today understood anything other than who got an award in Hollywood or who was sleeping with whom, or…what video game is great and why…they might actually protest our out of control politicians. These overpaid bags of hot air who paint with unicorn blood and fairy dust, create rosy pictures for those of you who watch passively the greatest president that we ever had…ever…give the greatest State of the Union address ever! If you do not believe me…ask him….he will tell you that himself if, he can pull himself away from his selfie stick or mirror! “Yes, that is sarcasm.” If the only politics you followed are on MSNBC or CNN and then watched the State of the Union Address you would buy the lies.
“Folks, they are lies…. People such as myself are not going to be able to keep this fight up forever…you had best engage and smarten up, unless you want to go the way of Greece.”
I will take this opportunity to put a plug in for a news network that is strictly news. No opinions, just the facts. http://www.oann.com/
Their reporters at time are sophomoric, but I find that part of the charm. Just the facts, no spin. They are currently in a battle with the major news networks, as the multi media giants are pulling strings to keep them off cable networks. Verizon still has them but Time Warner and Charter who seem to be under the thumb of certain people in the administration, do not want them. The FCC is going to have to get involved with this one but I am certain that they “the multi media giants” can drag this out until after the election, as to keep the left wing loons influencing politics as they have been doing forever.
Seek the truth my friends!
© All rights reserved 2016
You must be logged in to post a comment.