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Old 01-08-2015, 04:04 AM
Danny B Danny B is offline
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Join Date: Oct 2012
Location: L.A. Ca.
Posts: 4,891
The politics of oil

The oil majors are losing a LOT of money. The price is too high. Much of the price of energy is profit for banks and taxes for GOV. The oil majors have had enough of this BS of losing money.
Excess capacity for oil production has been with us for decades, despite propaganda to the contrary. OPEC came into existence in the 1970s to check the over supply of crude in world markets.

With the Jamaica Accords in 1979, the U.S. got the Saudis to quote crude in USD only. This turned the USD into the world's reserve currency, the value of which is managed on one hand by the Saudis along with the American oil majors, and on the other hand by the U.S. Treasury and the FED.

What you see going on in the oil market is a fight between the American oil majors and the FED controlled by the big banks. The Keystone Oil pipeline has nothing to do with the environment. It has everything to do with the value of the USD. President Obama chills for the big banks which got him elected twice. The big banks also own Boehner and Mitchell.

The banks want to keep the price of world crude high (check Schumer's recent statement on Canadian oil going through the Keystone Pipeline). The Saudis and the American oil majors want to sell oil into an economically depressed world market. Now that power has shifted in the Congress, the American oil majors and the Saudis are letting Obama and the big banks know that things will be different.......

Then, there is Putin and ISIL or whatever their current name is.
"A major sustained drop in World oil Prices could easily collapse the Western banks since it is estimated by experts that at least 40% of their Worldwide Derivate holdings are dependent on high World Oil prices.

Apparently the goal of this manipulated drop in World oil prices by the agents of the OCC was to create serious financial stress for the Russian Federation and President Putin, to bring them to their knees.

As a true Ju-jitsu move, what if Putin now dropped the price of oil even further to maybe $15/barrel and increased production to flood the global market with legal oil, not stolen oil??

How long before the criminal western banks collapse under the stress of the derivatives contracts they currently hold??"
Putin’s Opportunity to Bust the US Petro Dollar | Veterans Today
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