Global Oil Scam: War, Disaster, Lower Living Standards Mean Mega Profits
Bilderberg's big oil boys come up trumps again while we pay through the nose
Steve Watson / Infowars | July 29 2006
This week has seen every major player in the oil industry announce record profits despite prices being at all time highs and production levels decreasing.
Surging oil prices helped drive quarterly profits for US energy giant ExxonMobil to 10.36 billion dollars, revenues have exceed $1bn a day, the first time in history for a US company. The second-quarter profit was up 36 percent from a year ago and approached the company's all-time record profit of 10.71 billion dollars that was believed to be one of the biggest for any company.
At $6.3bn, Royal Dutch Shell's underlying profits for the three months to the end of June were 36 per cent higher than over the same period last year, despite serious disruption to production in Nigeria. Shell's earnings were equivalent to about $3m an hour.
ConocoPhillips announced yet another record profit, a 65 percent increase in profit over this time last year.
BP Plc, Europe’s biggest oil company, said second-quarter profit climbed 30% to a record as crude prices surged and refining earnings increased.
Chevron Corp. said Friday its second-quarter profit surged 18 percent to set a new three-month high.
The record profits have been attributed to the rise in prices caused by the hurricanes in the gulf of Mexico and the escalating violence in the middle east.
Gas prices have hit all time highs.
"Americans are paying near-record gas prices, oil companies are reaping billions in profits, but the response from the Oil Men in the White House and the Republicans in Congress has been billions for Big Oil and a backhand to the American people," Senate Democratic leader Harry Reid said Thursday.
US Representative Ed Markey added, "While American families get tipped upside down and have their savings shaken out of their pockets at the gas pump, the Bush-Cheney team devises even more ways to line Big Oil's pockets."
The three largest oil and gas producers in the world generated profits of nearly 23 billion dollars in the second quarter.
The oil industry's boom comes a year after the policy to artificially jack up prices was formulated and announced by the Bilderberg group in 2005 at their annual gathering.
Long term Bilderberg investigators Jim Tucker, of American Free Press, and Daniel Estulin have many of the same sources and both stated one year ago that Henry Kissinger told Bilderberg attendees during last year's conference in Rottach-Egernthat oil prices would double over the next year.
A year ago oil stood at $40 a barrel - now it's close to $75. Oil hit a record high of $78.40 a barrel earlier this month.
The oil industry is regularly represented at the Bilderberg conference by John Browne, BP´s chief executive officer; John Kerr, director Royal Dutch Shell; Peter D. Sutherland, BP chairman and Jeroen van der Veer, chairman of the Committee of Managing Directors of Royal Dutch Shell.
Queen Beatrix of Holland, Royal Dutch Shell´s principal shareholder is a full-fledged member of the Bilderbergers. Her father, prince Bernhard was one of the founders of the group back in 1954.
According to Daniel Estulin's inside sources, at the 2005 Bilderberg conference it was announced that the general public does not realize that the price for cheap oil can be the bursting of the debt bubble. Cheap oil slows economic growth because it depresses commodity prices and reduces world liquidity. There is a strong indication, based on the information reported from the Bilderberg 2005 meeting in Rottach-Egern, that the Federal Reserve is extremely concerned about the debt bubble. An American Bilderberger reported that if the price of oil is to go down to its previous low of $25 a barrel, the debt-driven asset bubble will explode.
Economic experts have stated that oil prices are not going to fall, rather they are going to rise further:
Analysts do not rule out the possibility of oil crossing the $100 a barrel mark, given the escalation of violence in the Middle East and the imminent peak of the U.S. hurricane season. There are more bets placed on an $80-a-barrel oil, as oil has climbed by about $10 a year in the past. The supply side of the equation remains vulnerable due to the surrounding geopolitical uncertainties especially in oil producing nations in the Middle East, Nigeria and Venezuela. The demand growth is likely to stay elevated due to the scorching pace of growth in developing economies like India and China. - RealTimeTraders.com
The key for big oil to make massive profit is not to produce more but to limit and strictly control the supply of oil. Thus an artificial scarcity is created whereby the demand increases and the price skyrockets. When lefty critics vomit out the cliche "its all about getting the oil' when referring to the Iraq war, what they fail to realise is that it's not about hoarding the oil and selling more and more, it is about taking control of it and stemming the flow.
For this very reason the continued violence in the middle east and the fallout of disasters such as hurricane Katrina will not harm big oil, it will allow the industry to reap massive profits.
Furthermore, higher energy prices do not take money out of the economy, they merely shift profit allocation from one business sector to another. In this sense expensive oil means reduced consumption in other sectors, unless higher income can be generated from the increased cash flow. Higher income translates into longer working hours, which often results in lower standard of living. So while Bilderberg's big oil boys get richer and fatter by producing less, the rest of the world gets poorer and has to work longer and harder to produce more. This is how the elite system works.
Publicly available CFR and Club of Rome strategy manuals from 30 years ago say that a global government needs to control the world population through neo-feudalism by creating artificial scarcity. Now that the social architects have de-industrialized the United States, they are going to blame our economic disintegration on lack of energy supplies.
Globalization is all about consolidation. Now that the world economy has become so centralized through the Globalists operations, they are going to continue to consolidate and blame it on the West's "evil" over consumption of fossil fuels, while at the same time blocking the development and integration of renewable clean technologies.
This brings us to Peak oil.
Peak oil is the theory that we have hit the peak of the world's oil supply and we are fast running out, therefore we must limit production.
Peak oil is a theory advanced by the elite, by the oil industry, by the very people that you would think peak oil would harm, unless it was a cover for another agenda. Which from the evidence of artificial scarcity being deliberately created, the reasons for doing so and who benefits, it’s clear that peak oil is a myth and it should be exposed for what it is. Another excuse for the Globalists to seize more control over our lives and sacrifice more American sovereignty in the meantime.
The crux of the issue is that if oil was plentiful in areas in which we are being told by the government and the oil companies that it is not, then we have clear evidence that artificial scarcity is being simulated in order to drive forward a myriad of other agendas. And we have concrete examples of where this has happened.
Three separate internal confidential memos from Mobil, Chevron and Texaco have been obtained by The Foundation for Taxpayer and Consumer Rights.
These memos outline a deliberate agenda to gouge prices and create artificial scarcity by limiting capacities of and outright closing oil refineries. This was a nationwide lobbying effort led by the American Petroleum Institute to encourage refineries to do this.
Read more about Peak Oil here.
While the big oil companies protest their innocence at making massive massive profits, suggesting the profit margins are lower than many other sectors, and that much of the earnings are reinvested in new production, they are perpetrating the biggest elitist economic scam on the planet.
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