In this post I want to talk about Peak Oil, also a topic that could be categorized under Fringe according to some. So what does the term mean? The concept was introduced in the 50’s by M. King Hubbert, a geoscientist working for Shell. Peak Oil signifies the moment we maximize crude oil extraction, or from another perspective, the moment we used up 50% of the available supplies. After that, it is only downhill. Of course a consequence of this definition is that the precise moment can only be determined in hindsight or that we have exact knowledge about the amount of oil that is still waiting to be extracted at any given moment. I think we can assume the latter is not the case.At the moment of writing oil prices are low. Do we have more oil than we need? The price seems to be an indication but oil prices are only loosely based on actual supply and demand. Stake holders such as Big Oil, the stock market and last but not least (Western) governments are influencing (or manipulating) oil prices to such a degree that supply and demand only play a secondary role. One could speculate that the Middle Eastern suppliers keep the price low, or are at least content with the low prices, in order to force competitors that have to use more expensive methods of oil extraction out of business. As an average consumer all you can do is pay up and speculate. Let’s focus on oil price manipulation. Perhaps it all started in 1892 when crude oil was classified a fossil fuel at a Geneva scientific conference, largely thanks to lobbyists employed by Rockefeller (Standard Oil). Fossil means finite means price control. Now wait a minute, is it not obvious that crude oil is a fossil fuel made from decomposed dinosaurs?Up to this moment in time we extracted so much oil from the Earth that the amount of dinosaurs (and other carbon based life) required would have to be categorized as improbable. Even more factual, crude oil is drilled at amazing depths (30,000 feet and down), far below the lowest point fossils were ever found. Probably first by the Russians, when they acted upon the earlier work of scientist Vladimir Porfiriev. After a (years) long running scientific exercise, in 1956 he stated “Crude oil and natural petroleum gas have no intrinsic connection with biological matter originating near the surface of the earth. They are primordial materials which have been erupted from great depths”. The fossil origins of oil were qualified a hoax, used by interested parties in order to keep the price high or keep the myth of limited supply alive. Oil was a-biotic, non-fossil, and here is the real kicker: renewable (sort of). What?! A-biotic oil has been a purely Russian expertise for a long time, undoubtedly aided by stringent security during the days of the Cold War.
Of course the earlier mentioned stake-holders continue to stick to the fossil oil story. With it, Big Oil controls the price, governments can impose taxes more easily and certain pressure groups can further their agenda.There is much more to be said about Peak Oil, but I will save that for a later post.
Radio show by GnosticMedia, ep. 241: Abiogenic Petroleum: Peak Oil and “Fossil Fuels” – Debunked.
Interview with Col. Prouty. Prouty spent 9 of his 23 year military career in the Pentagon (1955-1964): 2 years with the Secretary of Defense, 2 years with the Joint Chiefs of Staff, and 5 years with Headquarters, U.S. Air Force. In 1955 he was appointed the first “Focal Point” officer between the CIA and the Air Force for Clandestine Operations per National Security Council Directive 5412. He was Briefing Officer for the Secretary of Defense (1960-1961), and for the Chairman of the Joint Chiefs of Staff.