Thursday, October 9, 2008


Posted 10/9/2008 8:10 PM EDT on

"Bulging inventory depresses oil price", or so says this morning's headlines. Don't be so sure. According to this morning's Democrat and Chronicle, the price of oil fell again to $88.95 a barrel, down from a high of $147 a barrel in July. To the average uninformed "Joe Six-Pack", this seems like just an unforeseen fortuitous bonus, what the newspaper calls "A rare dose of good news for the consumer". Supposedly the demand for oil is down causing bulging inventories, driving the price down. Bull Sh%#!

The price of oil has nothing to do with supply and demand! There is no oil shortage and there never was. There are huge oil reserves in several other locations other than the Middle East.

Lindsey Williams, author of The Energy Non-Crisis, predicted over two months ago that oil would fall to $50 a barrel. He was saying this when oil was at its peak and still rising. According to Mr. Williams, it wasn't really a prediction, it was a recounting of what he had heard and saw himself while he was the chaplain on the Alaskan Oil Pipeline. Check out this website where Lindsey discusses oil prices and inside information concerning an expected collapse of the U.S. economy.

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