United States Now Has More Oil Than Saudi Arabia: Obama Bans U. S. Drilling: Forces Our Money To Islamic Nations For Oil.
The Following Story INFORMS the United States Citizen just how the Illuminati agitates the world to develop a new market to exploit. Its All Smoke And Mirrors.
LONDON (AP) — Mounting concerns over Libya’s violent crisis weighed on stocks Tuesday and sent oil prices surging, while the earthquake in the New Zealand city of Christchurch pushed the country’s currency sharply lower. (Lions Tigers And Bears Oh My!!)
With deep rifts opening up in Moammar Gadhafi’s regime, air force pilots defecting and a bloody crackdown in the capital of Tripoli, investors (Can We Say Hedge Funds?) are fretting over how the crisis will end and what the impact on the North African country’s oil production will be.
Libya is the world’s 18th largest oil producer, pumping out around 1.8 million barrels a day, (Much less than Iraq Right Now) or a little under 2 percent of global daily output. The OPEC country also sits atop the biggest oil reserves in the whole of Africa. (So What? America Has More Oil Than Saudi Arabia And Illuminati via Corrupt Democrats Shut Ours Down)
With so much uncertainty surrounding a large chunk of the world’s daily oil production, (2%????) market prices surged. (Soros Hedge Funds Appreciate The Media In Their Endeavors) Benchmark crude for March delivery was up $4.80 a barrel, or 5.6 percent, at $92.55 a barrel in electronic trading on the New York Mercantile Exchange. Earlier, it had been even higher above $94 a barrel. (Run For The Hills OMG) (Drill Here Dill Now)
Rising crude prices are a particular worry for investors as they reinforce fears of inflation and raw materials costs. They also stoke worries of a big drop in global demand levels, as experienced in previous oil price shocks in 1973-4, 1979 and 2008. (Gee and all this FEAR FEAR FEAR Mongering on 2%)
“Until uncertainty in the Middle East fades, the oil price is unlikely to decline, with the concomitant threat to inflation, and margins,” said Derek Mitchell, a fund manager at Royal London Asset Management. (Do you know where George Soros Is Spending All His Efforts Now In Causing Market Place Chaos?) (The Answer: Middle East Why?) Brazil’s U.S. $133 Billion, Ten-Year Push in Search of Oil and Gas : Do Liberals Support Obama Sending Billions In U.S. Taxpayer Dollars For Brazil To Drill New Offshore Oil Wells?
Those concerns have clearly weighed on stocks, too, though a better than expected performance on Wall Street after the long weekend helped European shares claw back a chunk of their earlier losses.
The FTSE 100 index of leading British shares closed down 18.04 points, 0.3 percent at 5,996.76 while the CAC-40 in France dropped 47.14, or 1.2 percent, at 40.50.27. Germany’s DAX ended 3.46 points lower at 7,318.35.
Wall Street’s losses were less than futures markets were predicting following the three-day weekend, the losses cushioned by a survey showing U.S. consumer confidence running at a three-year high. (Do You Really Believe This One?) The Conference Board reported that its main consumer confidence index surged 5.6 points in February to 70.4, its highest level since early 2008. (Yea lets through our money at the stock because they said so) Celebrate Black History Month With Obama: The Damage! Is the preceding paragraph congruous with all the FEAR mongering going on like Unions Fighting States, Unemployment U6 at 18%, National Debt equaling The GDP due to fraudulent bailout of International Bank’s housing bubble, Foreclosures highest in history, and gee lets not forget TSA pat-downs, H1N1, Missiles taking off on the California Coast, The World is melting, Communism Turned Into Global Slaughter And Global Warming Turned Into Global Freezing. Gitmo, The Gulf Orchestrated Oil Fiasco, Bank Foreclosures, etc etc etc etc etc etc. All this was allowed to happen by Bill Clinton repealing The Glass Steagall Act in 1999. Its A Fact! BREAKING: More Than 1000 International Scientists Call Man-Made Global Warming A Fraud – Challenge NWO Operatives ~ UN IPCC & Gore
By midday New York time, the Dow Jones industrial average was down 0.8 percent at 12,291 while the broader Standard & Poor’s 500 index fell 1.2 percent to 1,327.
In the currency markets, the euro was up 0.1 percent on the day at $1.3654 while the dollar fell 0.1 percent to 82.96 yen.
An announcement from Moody’s Investor Services that it was putting Japan’s credit rating on watch for a possible downgrade had little market impact as the agency is merely lagging its rival Standard & Poor’s, which earlier this year did actually downgrade its rating on Japan by one notch below Moody’s Aa2 rating.
“The impact of developments in the Africa and Middle East on the yen have far outweighed any impact from Moody’s announcement overnight to place Japan’s credit rating on negative watch,” said Lee Hardman, currency economist at the Bank of Toky0-Mitsubishi UFJ.
Even though Japan has massive public debts, it is widely considered to be one of the safest places for investors to park their cash in troubled times.
A powerful earthquake in the New Zealand city of Christchurch also rattled markets in the region. The quake occurred in the middle of the workday, toppled tall buildings and churches, crushed buses and killed at least 65 people in one of the country’s worst natural disasters.
Following the quake, the New Zealand dollar slid 2 percent against the dollar while the country’s benchmark stock index fell 0.7 percent to 3,358.71.
Elsewhere in Asia, the Nikkei 225 stock average shed 1.8 percent to close at 10,664.70. Hong Kong’s Hang Seng lost 2.1 percent to 22,990.81 and South Korea’s Kospi dropped 1.8 percent to 1,969.92.
Mainland China shares saw their biggest loss in over a month — the benchmark Shanghai Composite Index dived 2.6 percent to 2,855.52 while the Shenzhen Composite Index skidded 2.7 percent to 1262.82.
Comments by China’s central bank governor, Zhou Xiaochuan, expressing Beijing’s determination to rein in inflation renewed worries over the likelihood of further moves by the government to cool price increases.
Pamela Sampson in Bangkok contributed to this report.
Orchestrated Oil Spill By British Petroleum.
The United States has plenty of oil within US borders. We don’t have to rely on foreign oil anymore! It is just a matter of drilling and getting the oil out. The oil is there! Remember the song….”America, America God shed his grace on thee”? It is true! God provided this country with more than enough oil for generations to come.
Did you know…
- There is a massive 200 billion barrel oil field located in North Dakota, South Dakota and Montana. And it even gets better! Because of new horizontal drilling technology, it is estimated that this huge field may even produce up to 500 billion barrels of oil! The Saudi’s are estimated to have only 260 billion barrels of oil, clearly putting America in the cat bird seat!http://www.nextenergynews.com/news1/next-energy-news2.13s.html
- But the good news does not stop there! Alaska is just waiting to drill for oil. In fact the governor of Alaska is suing the government for failing to drill for oil. Alaskan oil fields are massive. At Gull Island, Prudhoe Bay, Alaska, there is enough oil and natural gas to keep America going for the next 200 years! Yes, for the next 200 years! http://www.pushhamburger.com/hidden.htm
- There is even better news! The US Outer Continental Shelf has 112 billion barrels of oil, not to mention a whopping 656 TRILLION cubic feet of natural gas! WHY are people struggling to pay winter heating bills when we have natural resources like this?http://www.redorbit.com/news/business/1424734/us_should_drill_for_oil_and_gas_in_arctic_offshore
- Oil shale is abundant in the US. In fact, half of all the earth’s oil shale deposits are located within 150 miles of Grand Junction, Colorado! Shell Oil is working on new technology which will make oil shale extraction financially feasible. They plan to open a shale oil plant in 2010. It will provide a piece of the puzzle toward energy independence for the United States.http://www.fossil.energy.gov/programs/reserves/publications/Pubs-NPR/40010-373.pdf
- Then of course, just about everyone knows that the United States is the Saudi Arabia of coal. With 275 billon tons of coal! We have more coal than just about any other place in the world. Enough coal for American needs for the next 250 years! Once again, new technology is underway to make coal burning safe for our environment.http://www.teachcoal.org/aboutcoal/articles/faqs.html#howmuch
So there we have it! It is time for the US to get serious about energy independence and drill for oil. The environmentalists should move to China and India where pollution is really is out of control. With the new technology used in the oil fields of today, the impact on the environment is there but it is controlled. With environmental controls oil fields can be environmentally safe.
When it comes to the environment we need to understand that as long as there are billions of people living on this planet, there will to be a negative impact on the environment. That is just the way it is unless billions of people die, and even then environmentalists would complain about rotting corpses creating a problem for the environment. There is simply no way around problems with the environment when you have billons of people to contend with. The human race needs to protect this planet, yet we have to live too. Living without energy is not an option. Until we have plentiful, green energy we will have to rely on the oil based solutions of old. It will take time to convert to green energy and that quest is just as important as drilling for oil is now. We can’t let the ball drop in either arena.
Prince Philip, co-founder with Prince Bernhard of the Netherlands of the World Wildlife Fund (WWF), tells an interviewer that he hopes to be “reincarnated as a deadly virus” to help solve the “population problem,” he is just “doin’ what comes naturally” for any scion of the Anglo-Dutch oligarchy.
Obviously we should have been exploring our oil supplies 10 years ago. Now it will take at least 2 years before oil and then gas will come back down to a livable price for most Americans. 80% of all Americans claim climbing gas prices are affecting their lives in a very negative way.
And is it no wonder! Food prices go up every time a barrel of oil reaches a new high. Add to all of this are the flood woes of the Midwest which will mean even higher food prices yet to come. This winter will be especially tough for most people as they struggle to heat their homes with the highest projected heating costs of all time, and if that is not enough, they will be hit with unaffordable food prices, making it harder than ever to put food on the table for the family. This is not the America I know, or want to know.
Whoever wants to be the next president can easily get elected if they take the bull by the horns, and start drilling! We need to open the US oil fields in Alaska, Montana, and North and South Dakota as soon as possible. And, once we have that oil flowing all across America, we can tell the Middle East what to do with their oil. For too long we danced to their tune. It was degrading to both President Bush and Americans across the country when he went begging to the Saudi’s, hat in hand, pleading for increased oil production, which the Saudi’s denied. No American president should ever have to go through that again, especially when we have billions of barrels of oil right in our own back yard.
The next few years will be a time of financial hardship, but once American oil becomes available, it will not take long for the economy to turn around. This time of austerity is beneficial in a way, because it forces us to seek new and better ways to do things. And, new and better ways of doing things…..well that is a lot of what this country is all about! In the face of adversity, we will prevail and prosper in the end! We can do it! God Bless America!
The Obama administration is continuing a ban on offshore drilling in favor of offshore wind farms at a time when gasoline threatens to reach $5/gallon an economic nightmare the American public might see develop in 2011.
OBAMA MOTTO ~ KEEP AMERICA OUT OF WORK
Gas to hit $5/gallon in 2011?
Obama continues offshore drilling ban in favor of wind farms
With OPEC targeting $100/barrel oil as OPEC oil ministers gathered last week for a meeting in Cairo, 2011 may see oil challenge the $148/barrel all-time high reached in July 2008.
This comes at a time when the Obama administration is continuing a ban on offshore drilling in favor of offshore wind farms.
No amount of spin will win the Obama administration gains in public approval if gasoline tops $4/gallon or threatens to reach $5/gallon an economic nightmare the American public might well see develop in 2011.
OPEC members Iran, Venezuela and Libya have weighed in favor of the $100/barrel target, rejecting Saudi Arabia’s preference for prices centered at the $75 level, the level that oil has traded above since September, according to Bloomberg.
The end of 2010 has seen oil prices clime above $90/barrel, as Red Alert predicted at the end of the third quarter 2010.
Obama bans offshore drilling
Earlier in December, the Obama administration reversed policy, announcing a ban on offshore drilling in the eastern Gulf of Mexico and off the Atlantic coast that is expected to continue for at least seven more years.
Ironically, in March, less than a month before the BP Deepwater Horizon oil rig disaster in the Gulf, Obama and Interior Secretary Ken Salazar had promised to open up the eastern Gulf and parts of the Atlantic coast to offshore oil and natural gas exploration.
The Obama administration has no consideration of reversing the ban on Pacific Coast oil and natural gas exploration that is expected to prohibit drilling until at least 2017, USA Today reported.
Clearly the decision to ban offshore drilling is a concession to the environmental groups on the political left that support President Obama.
Instead, last month Salazar launched a “Smart from the Start” wind energy initiative for the Atlantic Outer Continental Shelf designed “to facilitate siting, leasing and construction of new projects, spurring the rapid and responsible development of this abundant resource,” according to a Department of Interior press release.
The decision is a follow up to the Cape Wind project announced in October, in which the Interior Department signed the nation’s first lease for commercial wind energy development with Cape Wind Associates LLC, a subsidiary of Energy Management, Inc.
The area involved in the Cape Wind project involves 25 square miles of the Outer Continental Shelf in the Nantucket Sound offshore Massachusetts.
The 130 planned wind turbines are estimated to generate a maximum electric output that could produce enough energy to power more than 200,000 homes
The Interior Department estimates that the Cape Wind energy project could generate enough power to meet 75 percent of the electricity demand for Cape Cod, Martha’s Vineyard and Nantucket Island combined.
Wind farms continue to fail
In making the decision to pursue wind energy, the Obama administration is ignoring abundantly available information that wind turbine farms have failed to be proven to be economically profitable ventures.
Texas oilman T. Boone Pickens has abandoned his $2 billion investment in a wind turbine farm in Pampa, Texas, despite having invested $58 million to broadcast a series of television commercials promoting his wind energy agenda.
In September, Deere & Co. announced its intention to sell its wind energy business to a subsidiary of Exelon for $900 million, the Associated Press reported.
Originally, in founding John Deere Renewables, the company saw the wind business as an extension of its agricultural work, with projects located in rural areas; before abandoning the project, Deere had invested more than $1 billion in the wind energy project over the last five years.
Last week, Colorado State University abandoned a plan to build a massive electricity-generating wind farm on CSU’s Maxwell ranch, according to Coloradoan.com.
Fort Collins campus president Tony Frank was forced to admit that a 2008 plan to transform the university into a “carbon-neutral” environment by 2020 was too ambitious.
Most of the electricity in Colorado comes from coal-fired power plants and from burning natural gas.
Currently, the Obama administration has no plan in place that has any reasonable chance of reducing the price of oil and natural gas in the near future.
- Weekend Reflections: NWO Democrats Block Drilling Of Our Own Oil. (politicalvelcraft.org)
- Keystone Blunder Increases Dependence on Saudi Oil (blogs.the-american-interest.com)
- U.S. reliance on Saudi Oil is growing again (staradvertiser.com)
- Estimated 3 Billion Barrels of Oil in America’s Heartland (theepochtimes.com)
- BREAKING: More Than 1000 International Scientists Call Man-Made Global Warming A Fraud – Challenge NWO Operatives ~ UN IPCC & Gore
- A Call For An International Justice Tribunal: Bring To Trial, Those Who Continue To Perpetrate Carbon Taxation Fraud Scheme Upon Humanity As A Whole.
- Jimbo Carter’s Department Of Energy: Colossal Failure!
- Abu Bakr Bloomberg, Calls For Fraudulent Carbon Tax: 72% Of Americans Say Drill Here Drill Now!
- Anonymous Takes Down Corrupted U.K. Government Websites: Operation Free Assange ~ Slandered With Sex Crimes By NWO Illuminati ~ As Were Michael Jackson & David Carradine (politicalvelcraft.org)
- Iran says it blocks cyberattacks on oil platforms (kansascity.com)