It is also known that the exorbitantly high prices Americans paid for gasoline over the last several years occurred because speculators made a fortune creating the price hikes in oil.
"....A Congressional investigation into energy trading in 2003 discovered that ICE was being used to facilitate "round-trip" trades. " Round-trip trades occur when one firm sells energy to another and then the second firm simultaneously sells the same amount of energy back to the first company at exactly the same price. No commodity ever changes hands. But when done on an exchange, these transactions send a price signal to the market and they artificially boost revenue for the company. This is nothing more than a massive fraud, pure and simple...." Source: Seekingalpha.com
scarcity, lack, and fear, make for big profits. That is why we need
to understand that we really know little of what we have in technology
to meet our energy needs because we can't trust the power structure
that controls that information and that technology.
But we do know that America is the Saudi Arabia of coal and the technology exists from the 1930s to create synthetic oil if we need it.
I believe that if Americans were to actually take control of their
government and their economic system, we would soon find that we can
move beyond oil dependency.
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