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Tuesday, October 18, 2005

Debunking Oil Myths

Thanks to the WorldNetDaily article about the new book, Black Gold Stranglehold, many of our beliefs about oil are set under-foot for a serious debunking.

Be prepared to be challenged by:

* The myth of fossil fuels: Corsi and Smith argue that the deep abiotic theory of oil is a more reliable theory than the fossil fuel theory. It rejects the contention that oil was formed from the remains of plant and animal life that died millions of years ago. Instead, they believe in Thomas Gold's argument that oil is abiotic: "a primordial material that the earth forms and exudes on a continual basis" and is "pushed upward toward the earth's surface by the intense pressures of the earth's core and the influence of the centrifugal force that the earth exerted upon the specific gravity of oil as a fluid substance."

* The running-out-of-oil myth: The 1970s scientific study known as Hubbert's Peak, predicting we would exhaust oil reserves by 2003, has been proven false. We are currently sitting on "more proven petroleum reserves than ever before despite the increasing rate at which we are consuming petroleum products. New and gigantic oil fields are being discovered at an increasing rate, in places the fossil fuel theory would never have been predicted as possible.

* The global warming hoax and other environmental myths: Corsi and Smith present compelling evidence that "burning fossil fuels does not release into the air chlorofluorocarbons or halon compounds, the types of chemicals identified as the culprits causing holes in the ozone." Instead, "human beings breathe in oxygen and exhale carbon dioxide" while "plants absorb carbon dioxide and throw out oxygen."

* The folly of oil conservation:
"Black Gold Stranglehold" presents and documents how no alternative energy option has been able to provide enough energy and how each alternative has been deemed uneconomical.

* Oil playing a part in the illegal-immigration problem:
Mexico has the third largest proven reservoirs of crude oil in the Western Hemisphere behind Venezuela and the U.S. As a result, the United States imports virtually all the oil Mexico exports. Consequently, "the U.S. government finds it difficult to take a systematic, hard look at the nearly free flow of illegal immigrants coming across our southern border. As a hedge against instability in the Middle East, the U.S. government has to calculate our oil needs when considering any steps we take regarding Mexico or illegal immigrants.

* The value of the dollar and its effect on terrorism: "In recent years the buying power of the dollar has decreased 40 percent on the average against all major foreign currencies. Since dollars can no longer be exchanged for gold, no hard, fixed commodity stands behind the U.S. international payments, including oil purchases. Osama bin Laden's "war against America was fueled by his belief that the U.S. has stolen the oil of Muslim countries. At the core of the issue is bin Laden's perception that America has paid for oil, a hard commodity, with paper dollars that are no longer backed as they once were by the hard commodity of gold."

* How high the price of oil?: "Today, the U.S. oil industry is sitting on a quantity of oil reserves that has never been higher. Still, we have built no new refineries, and the refineries in operation are producing at or near capacity. The picture that emerges is one of industry conglomerates simply sitting on large reserves and waiting for oil prices to go even higher. At some point, increased gasoline prices become an inevitable drag on the economy."

* Terrorism and Its Threat to Oil: Terrorists are "willing to bet that the U.S. will not be able to afford politically or economically a protracted global war against radical Islamic terrorism. Terrorists, like governments determined to impose price controls on oil, act to disrupt free markets. In doing so, they clearly understand the economic harm they can inflict."

Maybe the author's theories are ungrounded, but surely they must be based on something. Any counter-balance to the 'stranglehold' of the enviro-agenda is a welcome one.

Seeing the challenges presented in this book, makes me think that I'm more brain-washed than I thought before!

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To understand Canada, all you need to remember is three things. 1. Control. 2. Manipulation. 3. Money. The central government will control law to manipulated the industry and take wealth. All the rest of the arguements are smoke!! global warming, epa,etc is to excuse the whole sale raiding of the resource wealth. Bottom line, the money ends up in Ottawa. They spend on their just society, stay in power. Alta, the Canada whipping boy is forced to share, the ungraitful bastards. The ROC gets something for nothing come election time. Typically Canadian

Well said brookcee, that's the bottom line... period.


The peak oil theory is a myth:


Prices at the pumps reflect tax gouges and artificial shortages created by global combines. The US has a fraudulent refinery capcity issue artificially diving their retail cists up....why are we following this lead in Canada when we have ample reserves, spare refining capacity and cheaper extraction and delivery of crude? Why are Canadians ( and especially Albertans) subjected to this marketing scam centered in the US and Europe?


Your right Albertanicus... alot of those myths do have some basis in fact... it's just that the facts are often twisted and manupulated to appear to support a particular opinion.

couple I know about..

Corsi & Smith - I'm not a reservoir expert but EVERY reservoir expert I do know think Corsi & Smith are full of horse$*#&... theories are nice... proof is nicer.

Hubberts Peak uses overly conservative oil reserve estimates in his calculation. the problem with the peak stuff is that it doesn't take into consideration as of yet undiscovered reserves. However, there arn't really any new "massive" discoveries happening and while the timeline is uncertain, it is certain that our dependacy on hydrocarbon based fuels is in the long term unsustainable.

part of Corsi & Smiths credibilty problem is that they spout off on stuff they have no clue about... chlorofluorocarbons or halon have very little to do with global warming... Co2 and Methane do.. both byproducts of hydrocarbon based fuel combustion. I personally don't hold to the Kyoto myth either but I also don't see the sence in the wasteful use of valuable energy sources either... something our society IS guilty of.

Take Black gold's opinions with a grain of salt... thier purpose is to promote the oil industry... not to dispassionatly give a scientificly based opinion... in the long term Renewable energy sources, (hydro, Wind, Solar) actually make much more sence than oil... it's just the methods our society uses to judge the value of economic investments favors short term/high return investments rather than long term sustainable ones.

I'm not going to comment on the terrorism ones but for the high price of oil has little to do with a conspiracy of oil companies. The problem with the shortage of refinery capacity has all to do with those project evaluation criteria haveing a short term outlook. Due to market conditions, for the last decade gasoline refining margins have been crap... therefore with the economic index evaluations focused on next quarters profits rather than on long term growth and stability no oil company has been able to justify the long term expansion of refinery capacity cause there project evaluation criteria said that it was a poor business opportunity. And they were right... according to the cacluations they use it IS a crappy investment.. so blame Wall Street, the stock brokers and accountants... not the Oil companies...they were just doing what thier stockholders told them to do.

Sierra: you esssentiasly answered what I had been hearing from oil company people...that the gasoline surge is a refining issue creating gas shortages but there is no oil shortage. Again, this is largely a US problem...why are we catching their gas pump disease when we have oil reserves, gas in buffer and lots of refining capacity to supply domestic demand?

No reason...

well other than our refiners do sell to American markets too...

but other than that I think the Canadian jump in Gasoline prices was horse#$*( too.

I also think the current high oil prices are market speculators mucking around rather than real supply/demand equations for that matter. From every study I've seen current supply/demand forcast indicate price of oil should be hovering around the $40/bl mark...

But then we all know the stock market brokerage industry completely ignores all the advise they give clients.

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  • I'm Albertanicus
  • From Foothills, Alberta Rocky Mountains
  • I wish to serve my neighbors in a democratic society by reflecting on issues related to Albertans. I speak from the viewpoint of a Confessional Evangelical. I am also promoting what I call, "the New Albertanism".
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