Don't buy into the oil "crisis" just yet...

I'm not buying all this OIL OH MY GOSH CHICKEN LITTLE IS FALLING OUT OF THE SKY bit just yet. Oil prices above $100 a barrel? Really? You mean to tell me we've consumed that much more oil in the past year & a half? Let's consider some recent history regarding oil & the prices that are being set for it.

First of all, back in 2008, oil speculators drove the price up to about $150 a barrel, for reasons a financial layman such as myself still have yet to fully understand. What I do recall is that the economy went into the tank, leaving no room for gasoline (pun intended).

What was the result? America began naturally to scale back, and SUBSTANTIALLY I might add. Oil investors & producers were being being left with oil GLUTS. In other words, there were plenty of available barrels of oil WITH NO ONE TO BUY THEM.

It doesn't take a genius to figure out what happens to a commodity that loses demand when market forces take over. Oil dropped to almost $30 a barrel in the next several months. America chose to pass on high oil prices in large quantities.

Let's keep in mind, prior to all of this, prior to the start of the Iraq & Afgahn wars, European corporatists invested in oil were profiting on the backs of oppressed Iraqis for $11 A BARREL. How was this possible? Syria was funneling black market oil from countries like Iraq for people like Soros to then turn around & sell for almost 4 times their price! European corporatists were a bit pissed off when we invaded Iraq, to say the least. This must be payback.

Back to the present. America's oil consumption HAS NOT INCREASED SUBSTANTIALLY since the $30 a barrel price drop. The world, in fact, is going thru one recession after another, just like we are.And how did OPEC react? "We're going to DROP oil production to offset reduced consumption." Oil gluts ARE STILL OCCURRING TODAY.

Reduced oil production means reduced workforce, and reduced work hours. THAT'S what's contributing to the unrest in the Middle East. America is nowhere near consumption levels of 4 or more years ago, and combined with recent inflation of basic goods (Thanks Geithner & QE2), has caused hunger & poverty of epic proportions. Foreign oil barons are willing to let production suffer to offset losses attributed to recession & the Iraq war.

We're experiencing an oil price "shell game". The fact is we're all at the mercy of foreign oil corporatists (and a virtually non-existent shelf-life), that want to keep the barrel of oil at a exorbitantly above-market price. They have stored oil that they refuse to sell for less than a determined price, are willing to put employment for oil production out to pasture to do so. "Quantitative easing" only contributes to the idea of accepting oil at a $150+ a barrel price range as the norm. We're being punished for defending the innocent in Iraq, not just by our own liberals, but by oil fascists abroad.

We need to keep our wits about us. This is a game we can win, this is still America. Get Obama out and send the oil fascists with him.