2015: Pink Slips: 100,000 Jobs Wiped Out Amid Oil Price Collapse: “Spreading Like Cancer”

Low oil prices are good for America according to President Obama. In fact, he has personally taken credit for the savings you’re experiencing. In a normal economy, lower prices at the pump would certainly help to spur growth in other sectors. The problem, of course, is that the new normal means that oil companies and banks leveraged heavily as prices rose. They assumed, like real estate speculators ahead of the 2008 crash, that the price of oil could only go in one direction. As we’ve seen in recent months, however, oil speculation is exactly that and despite our dependence on black gold the energy industry is not immune from massive price swings. The consequences will be two-fold and the cracks are already starting to appear. First, according to a new report from Zero Hedge, over 100,000 jobs have been lost globally as a result of lower oil prices and more […] Read More

2014: The Price Of Oil Exposes The True State Of The Economy

Above Photo: Jack Delano Cafe at truck drivers’ service station on U.S. 1, Washington DC Jun 1940 Submitted by Raul Ilargi Meijer via The Automatic Earth blog, We should be glad the price of oil has fallen the way it has (losing another 6% today as we write this). Not because it makes the gas in our cars a bit cheaper, that’s nothing compared to the other service the price slump provides. That is, it allows us to see how the economy is really doing, without the multilayered veil of propaganda, spin, fixed data and bailouts and handouts for the banking system. It shows us the huge extent to which consumer spending is falling, how much poorer people have become as stock markets set records. It also shows us how desperate producing nations have become, who has seen a third of their often principal source of revenue fall away in a […] Read More

2014: US Destroying Syria’s Oil Infrastructure Under Guise of Fighting ISIS

Maram Susli Activist Post The US is considering bombing pipelines in Syria, which it claims is in an attempt to cut off the huge profits being made by ISIS from captured oilfields. The Independent quotes Julieta Valls Noyes, the deputy assistant secretary for European and Eurasian Affairs during a visit to London, that ISIS was making $2 million a day off oil sales and that the US would consider airstrikes as well as “kinetic strikes against some pipelines” and “actual physical action to stop the flow”. The trouble with this justification for destroying Syria’s oil pipelines is that ISIS does not have the capability to use the pipelines to transfer oil. ISIS transports the stolen oil on the back of trucks and sells it on the black market in Turkey. This is admitted in the same Independent article that quoted Ms. Noyes. The Independent claims: Isis has sold some […] Read More

2013: THE LIES TO HIKE THE OIL PRICE

A more appropriate title for this piece would have been “Orchestrating Financial Collapse”. To begin with, I’d like to thank you for your research and timely news that the rest of us don’t have the time to dig into. Admittedly the hardest part of observing the unfolding of a prearranged history is connecting the dots. More to the point, to be able to see how all things are connected and work in concert to achieve the desired goal. So I’d like to throw some things out that the public at large doesn’t know and never would. What I am about to tell is common knowledge in oil circles but the worker ants at the bottom of the pyramid never question what they see. I was an eye witness to what I am going to relate and there are a good many others who could come forward if only they will. In 2000 I worked […] Read More

2005: The Long Emergency

What’s going to happen as we start running out of cheap gas to guzzle? By JAMES HOWARD KUNSTLER A few weeks ago, the price of oil ratcheted above fifty-five dollars a barrel, which is about twenty dollars a barrel more than a year ago. The next day, the oil story was buried on page six of the New York Times business section. Apparently, the price of oil is not considered significant news, even when it goes up five bucks a barrel in the span of ten days. That same day, the stock market shot up more than a hundred points because, CNN said, government data showed no signs of inflation Note to clueless nation: Call planet Earth. Carl Jung, one of the fathers of psychology, famously remarked that “people cannot stand too much reality.” What you’re about to read may challenge your assumptions about the kind of world we […] Read More

2013: Whistle blower to testify on oil spill

Testimony before a Senate investigative panel this week is expected to reveal what many have suspected about BP all along; they dont care about the environment, the animals that are dying, and the lives that are being destroyed by the Deepwater Horizon oil spill.  In a shocking interview with CNN’s Anderson Cooper on June 29th, Allegiance Capital Corporation V.P. Fred McCallister said that BP is deliberately sinking oil with the toxic chemical dispersant Corexit, to hide the size of the oil spill. By sinking the oil before it can be collected, BP won’t have to pay fines on it. McCallister said, ¬ Everybody in Europe, where the standard practice is to raise the oil and collect it, is scratching their heads, and quite honestly laughing at what’s happening in the Gulf.” He added, Everyone, is looking at us and wondering why were allowing this to happen.” McCallister is set […] Read More