Comment 5737

By David (anonymous) | Posted March 06, 2007 at 03:27:07

I still remember the photo of Dick Cheney walking with the sheeted ones in Saudi Arabia, with the caption asking what they may have been discussing.

Matt Simmons also stated that he believes S.A. oil is past peak and that they have resorted to pumping water in to extract more oil from many wells. There could very well be an unintentional loss of production.

But going back to that Dick Cheney photo, I wonder if the longstanding policy of a preferred price range has been perverted by suggestion from the US, partly to aid in the dollar support with the higher price through petrodollar recycling, or to ramp down as someone else such as Chavez or Iraq was ramping up. I believe the current oil price range is the US preferred price as a source of support for the dollar as countries begin to drop their dollar reserves, an event that may equate closely to the time line in the production chart in this story.

If the drop is indeed unintentional, then the steepness of the decline is sincerely alarming. But it is clear that the US wants the price very high. So even if it is unintentional, it may be playing well into the US hand.

One thing we certainly need the most, more than cheap oil or a respected dollar, are Washington politicians who once again start working for the people of the USA, and one of their firt assignments should be to TELL THE TRUTH !!!

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