May 2005 Update

This is a long of series of articles that begins here.

- A PDF version can be found here.

The Coming Econoimic Depression: Peak Oil

I am not a newcomer to what is commonly referred to as Peak Oil and the new 'bandwagon' that everyone is now riding and talking about. I have known about this coming global problem since the early 90's, long, long before it was fashionable and profitable to talk about it. Back then it was not called 'peak oil'. There were just references to 'Hubbert's Peak', oil depletion and looming 'supply problems'. Additionally, prognostications were not for this to happen for another decade, at least. However increased demand and the inability to find new fields has pushed that date to about late 2005-2010 depending who's oil reserve figures you believe. Oil, the control of it and its future scarcity is not a surprise to me and others who were reading obscure policy papers and government reports well over 10 years ago. I personally became interested in this just after the break up of the Soviet Union. The emerging states that had oil were my focus and many US oil companies were looking for a way to get to the oil fields located in the southern periphery of the old Soviet Union. I realized (with a very few others) that oil was going to be the issue of the 21^st century. Since 1998, the price of Oil has risen by roughly 500%. Today, there are a lot of folks making good money and gaining a lot of notoriety on the subject of Peak Oil today. Once again, I am not here to add to the work of others or ride the 'peak oil' bandwagon, write books and go on the talk show circuit. I will leave that job to others who love the limelight. However, I want to stress that I am not denigrating those who are bringing these things to light today. Many are doing excellent work. My only problem with many is that this issue should have been talked about 15 years ago with the same vigor. No one did and when people tried to bring the issue up they were usually laughed at. Later in this months update, I will talk about what needs to be done now to avoid a truly global disaster that could very well end the modern world as we know it. I do not expect many will listen...that is until they can't get to work (no gas) and the grocery shelves are empty because trucks cannot afford to transport food or farmers cannot afford fertilizer. Then and only then will the proverbial 'light' will come on in the American body politic. Before you think 'Peak Oil' just effects the price of gas paid at the pump, think again. Computers, music, fertilizer, pesticides, air-conditioning, heat, air-travel are all dependent on oil. There is almost nothing that modern life entails that does not have oil somewhere prominently in the equation.

Figures as of 2001 Source CIA. More up to date figures can be found on the EIA's page

Oil prices are high as a direct result of market factors. The most important and longstanding is that of simple supply and demand. The greater the supply the lower the price, the less supply there is in the markets the higher the price. If the supply remains constant and demand rises you are still going to have high oil prices. This is the reason we are having record high prices today. While many want to believe that high Gasoline prices are just a Neocon conspiracy the simple fact is this; oil is a limited supply. There are no 'gnomes' at the earth’s core under the control of George Bush and the Neocons who are slowing their production of crude oil to keep prices high. The simple inescapable fact is this; Once we recover all of the easy oil (easy to find and refine) the only kind of oil left will be the Heavy Crude which is considerably more difficult and expensive to extract and refine¹. Once that is gone, we are going to be in a world of hurt. However, this does not mean that the Neocons and 'big oil' would not use the fact that we may be approaching Hubbert’s peak as a way to boost profits. They do as a whole, seem to posses the intestinal fortitude and the moral degradation to do such a thing. There are many other factors that are coming into play in todays markets that have driven gasoline prices to near $3.00 a gallon in America. The lack of refining capacity overtaxed transport lines and environmental red-tape all play an important role in todays high prices. Yet, the fact remains that oil wells are not bottomless pits and we do now appear to be reaching a global production peak.

Demand

Demand is rising. China and India and other nations that have recently industrialized are putting an enormous strain on the supply chain of global oil. Their consumption is likely to only increase in the years ahead as they become wealthier and the populations desire the luxuries that we in the west take very much for granted, like two cars, cheap gasoline central air and heating. This will tax the oil wells (and natural gas) that are currently producing to new limits and will, as we are seeing now, simply drive up the price until demand subsides to levels oil producers can accommodate. China is now the world’s third largest Oil importer.

The above is a graph that was presented to Congress on Domestic (US) oil production way back in 1974. It basically said that the US was running out of oil, which meant at the time the US would have to be increasingly dependent on foreign sources of oil. What happened? A real shocker! Oil production in the US declined and we became more dependent of Foreign Oil. But Hubbert's peak is not just a theory that applies to domestic oil markets. The theory applies to the entire planet in the form of the same basic bell-shaped curve. There is only so much oil and now, as demand for oil around the world increases more rapidly than supplies can accommodate This means that the mad scramble is on and it is occurring around the world by nations to secure a source that will keep economies productive. The University of Salzberg did a study back in 2002 that described the problem exceptionally well. A copy of it can be found in English and located here. I will give you three graphs from that report that shows from actual case studies how Peak Oil really does happen and that it is really not theory but a frightening reality.

Norway's Oil Production

England's Oil Production

Alaska's Oil Production

The reality that you are not hearing very often in the mainstream is that peak oil is real and that we are very close to it, if not already there.

``We're damn close'' to the peak in conventional oil production, Boone Pickens, who oversees more than $1 billion in energy-related investments at his Dallas hedge fund firm, said in an interview in New York Feb. 16. ``I think we're there.'' Suncor Energy Inc., the world's second-biggest oil-sands miner, is his largest holding. - Bloomberg

Everyone around the world is coming to that realization except 'Sammy SUV' driver and 'Harry Hummer' haver, who purchased very expensive gas guzzling cars as status symbols of conspicuous consumption. They still seem to believe in the mythical oil gnomes busily producing oil in the center of the earth as they drive that gas guzzler to the polls to vote.

So 'Peak Oil' is no Neo-con conspiracy theory. It is true life reality that we as a nation and as a planet had better get a handle on fast lest we find ourselves in a dire condition. But let us be clear as to what Peak Oil is. The Scientific/Economic theory behind it does not suppose that the world is 'running out of oil' and soon there will be none left. There will be oil in the ground 500 years from now, be assured of this. The problem faced is not that we are running out of oil, it is that we are running out of enough oil for present day needs at a price that the global economy can withstand. This will mean a serious and compulsory readjustment of energy consumption world wide. It will mean in America one of two things, exorbitant gasoline prices (by today’s standards) or permanent gasoline rationing. Such a course of action as rationing is diametrically opposed to the wanton consumption and luxurious lifestyle enjoyed by the vast majority of Americans. Any proposed rationing campaign would immediate be accompanied by cries of ‘conspiracy’ and ‘collusion’ by big oil and the White House. It would be derided as an over-reaction and a scheme to undermine 'America' by 'socialists' and 'communists'. Yet those who will make such charges do not have a solution to rising petroleum demand and overtaxed and soon to be dwindling oil supplies. These are inescapable facts. While some will demand that the new producers of wealth (such as China) reduce its consumption or will try to find ways to undermine China’s growth and thus her oil consumption, the reality is that even if successful this is only a temporary solution. The rising demand for developing nations to curb consumption will come from many quarters and will not be aimed publicly at her oil consumption. But it is the growth of China the so-called Asian Tigers and India that will be on the agenda as the G7 and other global institutions attempt to deal with the real and pressing problem of ‘peak oil’.

But let us look at what dwindling oil supplies will mean. It will mean that driving your personal car to work everyday becomes cost prohibitive. You will not be able to afford to with Gas running at $5-8 a gallon. It will mean food prices will go up, not just because of the cost of transport to the local supermarkets goes up, but because pesticides and fertilizer prices will rise as well. Why? Each requires petroleum in its production. Everything that makes the modern economy modern ultimately comes from oil. This even includes nuclear power which requires Oil to construct the facilities as well as maintain them. Oil is going to be the perennial economic and political issue of the 21^st Century.

In Thousand Million barrels: Source BP.

On this site I usually cover the issue of Oil and how it will effect the global economy. Some may not fully understand the emphasis I place on it. Many probably feel that the recent spike in gasoline prices is a transitory problem. I can assure that it is not. It is important to understand the new political and military alliances are being formed and new economic ties are being realized based less and less upon political ideology but upon the growing need to secure energy. This is why we need to look at what is happening in various parts of the world in light of this fact first and then later look upon other issues and being secondary. Granted this is not true in every case but understanding this pivotal issue is key to understanding the times we live in.

China

Once again I will talk about China. She is involved in Sudan's oil conglomerate. She will need to import about half of the oil she consumes in the year 2007 according to research done by the Association for the Study of Peak Oil. This means that she will need even more oil that she needs today. Where is she going to get it from and how can she acquire this oil without reducing the consumption of the other oil hungry nations? Today China and Japan are linked a diplomatic row over a significant find in the China Sea. Each claims ownership, each wants to develop and neither wants to share. Not coincidentally that Japanese recently issued textbooks that re-wrote history specifically with regards to Japanese atrocities in Manchuria during the second World War. This is an old and still festering wound that still affects the two nations. The fact that such massive public protests that occurred recently even transpired in China’s tightly controlled society shows either one of two things; the Chinese Government is allowing the protests to send a signal to Japan and or the Population as a whole may be shifting towards a more aggressive stance towards Japan. While it is too soon to talk of war, the possibility is real, if a little remote. Relations between the two have never been warm and China will not forget what Japan did during WWII, especially in light of the fact that Japan refuses to apologize. Oil, history and the struggle for regional dominance is going to be an important story in Asia.

Even now China and Venezuela are looking to secure oil deals that may leave the US (which imports about 8% of its oil from Venezuela) out in the cold. The US has done its level best to demonize Chavez who is president of Venezuela and even tried to overthrow his government. The issue is oil. They are deathly afraid that he will use the oil weapon against the US. I recently watched a special in TV about him by a a news organization that is firmly under the control of the Council On Foreign Relations, A private group of US elite personages comprising of Oil Company Executives, Bankers and Industrialists whose existence until just a few years ago was hotly denied by America's most 'trusted' newspapers and periodicals while the editors of these very same periodicals sat in the meetings as members of the very same organization. It was a magnificent piece of propaganda meant to show how 'dangerous' this multiple and overwhelmingly elected leader is. The fact is they want this guy under six feet of dirt and his oil shipped to the US at below market prices.

A Chart Prepared by ASPO on the global oil situation

Dying Fields

Yes, there is a real problem as the Suncor's Executive stated. The world's largest oil field is in Saudi Arabia. It is the Gharwar oil field and experts are now saying that it is dying. What do I mean by dying? Simply this; there will be oil in it for the next 100 years. But It will probably never produce as much in a single year again and each successive year it will produce less and less. Bad news especially now as demand is rising considerably globally. The news has not been widely publicized because the ramifications are too enormous. It would send markets into a tailspin and the automotive world would suffer even more than it is now. While the real answer to the question as to whether the Oil field has actually peaked may be somewhat premature, it does appear that the Saudi's promises to boost production are little more that political statements meant to drive down the price of oil to assist their American benefactors. Let us also note that it is in the interest of some to see the price of oil rise, not least of which that financial institution that made the announcement on Saudi Oil depletion. The real story in this authors estimation is this; there is no longer any excess capacity in Saudi Arabia and soon we will see production curves taper off and decline.

If the above news is not scary enough consider this regarding the world's second largest oil field.

Mexico’s state oil monopoly, said it expects production at its Cantarell oil field to begin declining this year, earlier than previously forecast. Cantarell is the largest oil field in Mexico, and the eighth largest in the world. The field, which has been in production since 1979, had produced 2.11 million barrels per day in 2004. Pemex expects that to decline by 5% to 2.0 mbpd in 2005.- Green Car Congress

So if the number one and number two oil fields in the world are soon to be or are already in permanent (get that word into your head) decline what does that mean? Are there other places that produce oil?

Of course, there are, there are the other oil sheikdoms that are located in the Middle East; China believe it or not, is a producer of and exporter of oil and so is Russia. But all of Chinese production is going to go into its own economy as by the year 2007, it will need half of the oil she consumes. If it can avoid a major banking crisis and keep its economic miracle going it will rival the US in terms of oil importation very soon. So as far a major source of oil for the rest of the world China will be no help. What about Russia?

Russia is a large source of oil. It is the worlds second largest oil exporter. Russia has jealously guarded her oil reserves from too much foreign ownership hoping to keep the future of this precious resource in Russia hands. Yet there are some rather unsettling events that surround oil production. BP signaled a decline in production in its Russian venture last year. This is not good news and while officials blamed the 'harsh winter' others suspect that there many be a more sustained problem of production on the horizon. It must be kept in mind that much of Russia's infrastructure is aging and is in various stages of disrepair. Additionally unusually harsh winters hamper the movement of oil tankers.

Russia, in this authors estimation is setting itself up to be the next superpower after the world undergoes a global economic adjustment. It desires to be a primary source of oil for th world and has accumulated large amounts of gold to protect itself from shocks in the capital markets. While the success of this strategy is undergoing a tremendous test today as the forces that Putin must contend with are formidable. Additionally, activities by the west to undermine Russia's political and internal integrity are not, shall we say, 'non-existent'.

For those of you who are hooked on charts and graphs BP has an excellent source for both here.

Other places that the world is looking for oil is Africa which can be found here.

So oil and the control of it is now in this authors considered opinion not simply a driving force behind US foreign policy but the primary driver of its wars and diplomatic efforts in regions that produce and or have the potential to produce oil.

Solutions

All solutions mean a change in lifestyle. But some changes should have been enacted years ago. First and foremost needs to be a federal transportation program that shifts money from other parts of our bloated and corrupt government into building safe, energy efficient, reliable and extremely cheap (preferably free) public transportation. This can be in the form of trams, undergrounds, trains and buses. This must be coupled with a informational campaign to explain to the people what is happening and why these things are necessary. This must be done with the specific intent of getting people out of their cars to get to work. This is why it should be free, make it economic folly to drive to work. Then a system of taxation can be put on cars and gasoline to help maintain the Public Transportation System. This should be given the highest national priority now. Such an undertaking would cost a great deal of money, about as much as our war in Iraq is costing and it seems if they can come with the money for that ill conceived misadventure, then they can come up with the financing for a National Transportation System. Much of the control of this system should revert to local control after the nation undergoes the transition period. Space for trains could be used on existing highways and freeways in metropolitan areas, giving emphasis, 'right of way' and deference to public rather than private transportation. This need not signal the end of the privately owned vehicle. It would just mean that using it to get to work during rush hour would not only be impracticable but increasingly cumbersome and difficult.

Most people, even those who live in LA, do not know that they used to have a great public transportation system called the red-cars. Indeed auto manufacturers had a hand in replacing some of the red cars with Buses back in the 40's. This was long ago yes, but it shows how the automobile was viewed at the time. They viewed it as the future and they were correct. Now we must begin to look at the POV as a think not so much of the past, but as a dangerous and probably disastrous use of precious energy resources. This kind of public transport (rail) needs to come back and needs to quickly.

Such a program needs to implemented in phases. Phase One would put the major US metropolitan areas such as LA, NY Chicago, Miami, Dallas etc to get the needed capacity to carry 100% of daily commuters via public transportation. The second phase would go to other cities that have populations of between 500,000 to one million. Phase III would move to smaller cities and finally for the rural areas, other solutions should be attempted such as gasoline vouchers that allow rural dwellers to purchase fuel at below (future) market costs but within strict monthly limits. These solutions would reduce the nations energy consumption considerably. The political problems would be enormous. Interests from big oil, to auto manufacturers to others who are dependent on the automobile to earn a living (parts makers, mechanics, tire makers etc) would fight to varying degrees plans that would make the Auto obsolete as a daily form of transportation. Yet by encouraging the big auto manufactures to retool to make the trains, trams etc., that will make up the new forms of public transportation and allowing them to maintain them as well, may reduce the political resistance that would be felt.

In addition these new forms of transportation must not be dependent on any one fuel source. The engine cars of these new trains and trams should be able to be interchangeable between natural gas, gasoline, hydrogen power, coal, and newer technologies. If this is done it would create a great deal of flexibility in the system and energy shocks would not seriously undermine the national transportation system.

Rationing energy in the home.

Homes should be severely penalized for using too much energy with exorbitant rates and automatic shutoff if bill is not paid at once in full, in cash and in person to the solitary, one-armed one-eyed clerk who takes a three hour lunch every day. This would make it a real hassle as well as most expensive to waste energy. This may sound drastic now, but it may prevent rationing later. California is set this year to have its energy needs exceed capacity. What does this mean. It is real simple; brown outs and blackouts. Thus, in order to reduce needless wasteful consumption and forcing all to suffer because of the foolishness of a few, excessive fees and real hassles for wasteful use must be enacted.

Rationing Energy around the world.

Will we come to a point that international organizations decide to impose consumption limits on nations? This is not inconceivable and as we move towards the end of the decade cries for this will increase. Institutions and powerful individuals who are constantly looking for ways to increase the power in international institutions will use 'peak oil' to attempt to bring about a global enforcement mechanism in order to:

• Control Consumption

• Redistribute Industrial capacity

• Redistribute wealth.

• Increase the power of global institutions

Alternative sources of Energy.

This is a must as well. We must find new sources of energy, solar, refuse, wind, nuclear and other forms of power can and must be explored with all haste. While some efforts have been made they fall far short of our the increasing need for energy in the global economy

The alternative is permanent shortages, cold homes in the winter, holding worthless ration coupons when there is no fuel to be had. This is going to happen if some drastic measures are not taken soon. Soon, as in right now. You see, an oil shock in the form of a terrorist attack on an oil producing country such as Saudi Arabia or here in the US at a major refinery (the recent fire in Texas may very well have been such an attack) is very real. Some other disruption to the Supply Chain (tanker trouble or a shortage of chemical compounds needed to refine oil the list goes on) would mean a serious spike in prices and possible shortages. Let us keep this salient fact in mind. Saudi Arabia is involved in a 'low-intensity' civil war. And the local elections that are to be held will almost certainly lead to radicals gaining power on the local level. It is incumbent on all who read this to know and understand that we have a largely undefended, unwatched border with Mexico and everyday thousands of illegal immigrants enter the US. Some of those who enter the US are terrorists. There is now a network in place that trains middle-eastern men to speak enough Spanish to be inconspicuous and then transports them into Mexico so they can penetrate the US for the express purpose of committing future acts of terror. The Department of Homeland Security is not interested in the Border with Mexico. They think strip searching 80 year old Grandmothers is a better way to stop terrorism than guarding the border. This is why you can bet on another devastating terrorist attack on American soil. We are long, long overdue. You can bet on this as well. The laws that will be enacted after such an attack will almost certainly

• Begin internment of thousands American citizens without trail or judicial hearing

• Bring restriction on Travel and movement

• Restrictions on Information (Internet)

• Bring restrictions on transferring/withdrawing money

• Bring compulsory Universal Service (includes a draft but also forced labor without pay for the government or large corporations in Public/private partnerships)

• Codify a new form of Government.

These energy solutions will cost money and force people to come to terms with the facts. Living in la-la land as Americans have been doing for years is no longer possible, if it continues just a couple of more years you will see an energy crisis like no other hit the US and we will have no one but ourselves to blame. On the 26^th of April President Bush's adviser Matthew Simmons said that in three years we will face a global crisis.

"Demand is pulling away from supply...and we have to ask whether we have the resources that we think we do. It could be catastrophic if we do not anticipate when peak oil comes." Matthew Simmons

After having said all of this, it is this author's opinion that other more pressing events may happen before we reach Peak Oil's downward bell-curve slope and it becomes a serious problem. War and fiscal insolvency of the world's largest debtor nation is going to cause a great deal more problems around the planet and I believe a little sooner that we begin the downward slope in production. Political instability inside the US is becoming an increasing likelihood as the polarization of the usually congenial US Senate is demonstrating. These issues coupled with the rising tide of populism against the massive wave of illegal immigration, its concomitant crime wave; corporate crime and looming trade wars will bring about as time passes, serious problems and a decrease in oil consumption as middle class America becomes slowly but surely, impoverished America.

Other problems on the Global horizon is the much neglected crisis on the Korean Peninsula. Kim Jong Il almost certainly has at last half a dozen Nuclear Weapons. Conflict here is becoming an increasing likelihood. Kil Jong Il is not a sane man. I mean this in the clinical sense. He is insane and his grasp on reality very tenuous. Yet he now has half a dozen nuclear weapons and just as importantly, he has a credible means of delivering those weapons in the form of his No-Dong missiles. If our war on Terror and Weapons of Mass Destruction were really for those reasons here is where we should have expended our efforts. The Problem? North Korea has no oil.

Other events

*The US and China are beginning a serious trade row. The primary problem being the US trade deficit with China and the US perception that Chin's trade practices are 'unfair'. A major shift in US tactics in dealing with China is on the way and one of the main things the US wants China to do is to Unhinge its currency from the dollar. A floating currency, economists believe will aid the US in competing and allow US good to become cheaper to China while making Chinese goods more expensive in the US. This is one of the reasons the Fed wants to tighten its monetary policy (raise rates), to reduce US consumption of Chinese goods.

But the Chinese may relent and 'reform' their currency rather than spark a trade war with America. The next few weeks will tell us if this is so.

*America's CPI showed a sharp spike in March and the .6% increase was largely due to the increasing price of oil. This is not a surprise other than the fact that the BLS didn't find some statistical methodology to remove oil from their calculations.

*Foreclosures and Mortgage default rates are increasing and are causing concern in some markets. Nevertheless, sales of new homes hit a record in March.

*BearingPoint, the premier consulting firm and spinoff from KPMG, is in trouble. The SEC launched an informal investigation into some of its accounting practices and there is now a Class Action Lawsuit against the firm by some investors;

The Complaint alleges that BearingPoint and certain of its officers and directors violated federal securities laws. Specifically, defendants failed to disclose that: (i) BearingPoint had materially overstated net income and earnings per share and undervalued its identifiable intangibles (goodwill) by approximately $250- $400 million; (ii) BearingPoint had inflated its earnings by improperly accounting for restructuring charges relating to acquisitions; (iii) BearingPoint lacked adequate internal controls and was therefore unable to ascertain its true financial condition; and (iv) as a result, BearingPoint's net income and financial results were materially overstated at all relevant times. - From A Press Release

The firm recently had to raise $200 Million in debt because

.“...its cash on hand was about $200 million at the end of March, not enough to meet its "expected or possible near-term cash needs." - Washington Post

*Meridian an auto parts maker filed for bankruptcy protection. The Bankruptcy is blamed in part on the rising price of raw materials. Other factors as well have hurt the firm including general overcapacity in the industry and waning demand, Other recent Parts makers that have filed Bankruptcy include Tower Automotive, Intermet and Citation.

*Durable Goods orders plunged 2.8% and was the biggest setback in over 2 years. This was the third decline in a row. This shows a remarkable weakness in the US economy and its much touted recovery.

The financial markets are still in my humble opinion one of the greatest threats to America's continued prosperity. They suck up much needed capital by investing it in non-wealth producing activities such as credit derivatives and debt default contracts. Daily, billions are invested and swapped in what is little more than paper pushing. Nothing of any substance is created and often real wealth gets destroyed by the financial shenanigan going on on Wall Street. Credit expansion continues but once again it is going into non-productive activities. Without the power to produce real wealth and the ability for ordinary Americans to work, I can confidently say the the bullet train of the US economy is running at full speed heading straight into a brick wall. The Congress and Senate are protecting those who loan money out at usurious rates and refuse to anything substantive to aid the production side of the economy. The Americans who need productive (as opposed to service type) jobs are getting the shaft from its quasi-elected representatives. The Congress is not dealing in reality. One need only look at the scandal surrounding Tom DeLay to see how things really get done in Washington. There is no empirical evidence that Congress cares about anything other than the next bribe, campaign contribution, perk or insider trade to enrich themselves at the expense of ordinary Americans. You are witnessing the end of the American republic. The debate over filibusters in the Senate is no small matter. It is a fundamental shift in the political culture of Washington. It means that things will get done faster that were previously held up and more that often than not, they will be the wrong things. Republicans should keep in mind that when the Democrats get power again rest assured, their judicial nominees will be ramrodded through and there will be no way to stop it. The actions of the religious right and the cynical manipulation of poorly informed churchgoers shows how far the GOP will go to get corporate Judges on the bench to assist in robbing Americans blind. The leaders of these religious institutions and leaders are not only a danger to the American republic, but are a far greater danger to true people of faith in the American body politic. Congress has become the tool of big business and corporate America against the people. Increasingly ordinary Americans are being viewed as the enemy, as anyone who has actually read the patriot act will tell you. Americans Assets are being set up for confiscation and the people with permanent indebtedness, as the recent bankruptcy bill demonstrates. They want to take away every fundamental right you possess and replace our system of government with something hideous, profane and wicked. The American people, obsessed with idiotic entertainment, sex and drugs will never believe or accept what is happening until the torture camps intern thousands of Americans and the smoke stacks begin to bellow out a strange smelling smoke. In Hitler's Germany, it took a long time even for the Jews, who took the brunt of Hitler's pre-holocaust persecution, to figure out just where he was leading Germany. Some could see but most could not... that is until they were herded into Ghetto's to starve or concentration camps to work... literally to death. That is exactly how I see America today. Euthanasia, abortion, war without end and violent entertainment show the nations unhealthy obsession with death and killing. A repeat of what happened in Germany is going to happen in America, not right away and not exactly the same, but the same exact footprint is present in America and has already stepped on the Constitution and the hands of tyranny have already slipped its bloodstained fingers around America's throat.

It doesn't take a genius to figure out what those fingers are trying to do.

Peak Oil: An Interview With Dr. Colin Campbell
Resources And Global Conflict - With Michael Klare
The Council On Foreign Relations Held A Forum On The Economy Here is an Audio File On Energy. Their View is quite different but shows you what our elite is thinking. Scroll down the page and you will find the file under 'The Global Energy Challenge'.Please pay attention to the Terms of Use of this particular audio file.

By,

Mark S. Watson

Anyone interested in purchasing a copy of Conquer The Crash At A very reasonable price can e-mail me at offer-crash@markswatson.com
Only While Supplies Last!!

Great Links

Financial Sense Online An excellent web site dedicated to giving sound financial information as well as investment advice. This site also has one of the best internet radio shows around. Highly recommended!

Prudent Bear's Credit Bubble Bulletin

Crashmaker – A Fantastic article of the fiscal realities that will bring about the greatest financial reorganization in human history.

The Larouche Movement. Many have foolishly mocked these people but everything they have predicted has and is coming to pass. (yes... I know many of you hate this guy but his economic research is pretty good and more honest than the numbers coming out of the BLS)

Crash News - A daily snippet of the real financial news

Depression TV - The depression will not be televised...

Preventing A Banking Crisis in The Future

Urban Survival

Peak Oil - One factor that is already beginning to weigh on the US economy in is the fact that oil production world wide is set to permanently decline in the near term. This paper deals with this issue.

The Forex Manual: Learning Forex Trading Strategies

Disclaimer: The above article is commentary and is not investment advice. The author is in no way connected to the 'wall street' gang and its financial institutions, banks, brokerage houses, lawyers or investment advisers and therefore cannot dispense financial advise within the parameters set forth by Wall Street and the legal profession, nor will the author attempt to do so. This article is not investment advise nor is should it be construed as such. Please do not e-mail me asking for financial advise. I cannot and will not give it on any level.