Re: SC26

http://fromthewilderness.com/members/100406_markets_react.shtml

THE MARKETS REACT TO PEAK OIL
Industrial Society Rides An Unstable Plateau Before the Cliff

.............Plateau

Everyone involved in the Peak Oil debate agrees there will be a plateau in oil production. The only questions are how long will the plateau last, and when will we get there?

The world currently consumes approximately 85 million barrels of oil per day, and the numbers published by the Energy Information Agency (EIA) show that there seems to have been a slight decrease in oil production from the beginning of 2005 compared with the beginning of 2006. International Energy Administration (IEA) data seems to support this as well. FTW reported this in the “Key Stories From Around the World” section of our website on September 13, 2006. We may now have the first pieces of data showing that geologist Kenneth Deffeyes was correct when he predicted that world oil production would peak sometime between Thanksgiving, 2005, and January 7, 2006, but that remains to be seen.

When we look closely at the recent EIA and IEA data, we see an apparent oil production plateau between October of 2004 and March of 2006...........

Mike Ruppert came damn close to predicting that events would unfold this way when he delivered his last speech ever in America back in April. Ruppert said:

" This is an election year. The elections are not for seven months. I for one do NOT think we will see $6 or $7 gasoline this summer (as was predicted by Dow Jones’ MarketWatch on April 4th). I think gas prices may reach $4 or even $5 for a short period, after which the Bush administration (say sometime between July and September) will again tap the Strategic Petroleum Reserve and his oil industry base will—they hope—be able to find a few million barrels to temporarily drive prices down, give Republicans a desperately-needed electoral boost, and feed another dose of valium to the increasingly worn out American consumer. "

The Strategic Petroleum Reserve didn’t need to be tapped to produce the desired effect that Ruppert predicted was coming, largely because there were no major hurricanes or other supply disruptions. But it’s the same game plan played by more subtle means.

The price of oil will soon be determined by watching heating oil instead of gasoline, so the weather becomes a big (if not the biggest) factor. Natural gas is similar. But the prices of heating oil and natural gas are nothing compared to the price at the pump when it comes to marketing ILLUSIONS to the American public. The price of gas is plastered on signs seen by every American every day. The best campaign the Republicans have right now is to watch the industry and Wall Street help push gas prices as LOW AS POSSIBLE...........