Lindsey Williams Calling for $5/gallon Gasoline in the Near Future

[dannno]

http://www.infowars.com/lindsey-williams-returns-get-ready-for-5-a-gallon-gasoline/


When oil was over $150/barrel, Lindsey Williams called for it to move down to under $50/barrel, and it did do so soon after.

Before this latest piece of information, he had called for slow and steady inflation in commodity prices, which we have been seeing.

People can call into question his credibility, but the bottom line is that there is no proof he has been wrong on any of his points. There is no proof he is wrong about the largest oil field in the world being in Prudhoe Bay, AK. Just because oil companies aren't tapping it doesn't mean the oil isn't there, that's really not a good argument. That is how cartels work, they make agreements to keep their prices at a certain level and refrain from supplying the market with as much product as they are able in order to maintain control over said market.

[dannno]

http://www.youtube.com/watch?v=noegMFZVzw0&feature=player_embedded


http://www.youtube.com/watch?v=M3i6UP4ZGXg&feature=player_embedded

[RCA]

He also said he was going to become a recluse because "they" warned him to stop whistle-blowing. He has yet to become a recluse.

[dannno]

He also said he was going to become a recluse because "they" warned him to stop whistle-blowing. He has yet to become a recluse.

So what is the point of your argument? What does this have to do with anything he ACTUALLY talks about that ACTUALLY has anything to do with global politics?

For one thing, isn't he a recluse for the most part? It seems like he only comes out once or twice a year to talk. Have you considered that the reason he said that was because his name was getting to be too big from calling the 66% decline in oil prices and his friend he gets info from didn't want to get in trouble (as in, killed, or worse, entire family killed, or worse)? Maybe he called his friend back a few months later, had a conversation, and talked him into letting him give out some more information once things had settled down a bit? Are people not allowed to change their minds?

[dannno]

I also notice a lot of people don't seem to "get" what Lindsey Williams is saying. What he's saying is he has information from tptb about their PLANS. Not about what is GOING to happen, the elite do not have ultimate control over everything, just very large amounts of control. Sometimes they have to alter their plans, sometimes things don't go exactly how they want them to go.

[Zippyjuan]

Yep- "they" were going to "do to him what they did to JFK" if he kept talking about them. "They" made him stop selling his book (but you can get a free copy if you by his DVDs). According to his predictions, the Middle East should be bankrupt by now. Not to mention that "John McCain is their man- and they will do everything they can to be sure he becomes president".

During the BP crisis, he claimed that the leak was "killing humans and babies" in Florida. He also claimed that BP was the first company to drill a deep well besides the USSR (Brazil has many deep water wells) so even his industry knowledge is wrong. I would have to look for it but I believe he was also one claiming that the BP well had drilled into an underwater volcano (which also wasn't true).
http://www.youtube.com/watch?v=oAPSOeBdSDA

[Romulus]

LW likes to embellish, but has been dead right when gas plummeted. It does make you wonder about this time too... I think its a real possibility we could see expensive oil this year...

[Zippyjuan]

They were supposed to be going to "flood" the world market with oil from oilfields in Indonesia (a net oil importer) and "North of Russia" where oil is not yet even in production. No increases in oil from either of those places.

Predictions from October , 2010:
Oil $150- $200 a barrel- crude oil will "move immediately"
Gas $5 a gallon in 6-8 months
Iran- "elites want trouble in 3-4 months" (that would be about right now)
Feds will own every mortgage in America
Gold and Silver to continue to "skyrocket" (gold really hasn't done much since October)

"The elite are on time. Only divine internvention will halt their time line".


http://www.youtube.com/watch?v=mhIXEvhbcl8

[Anti Federalist]

I'm as big an AJ fan as you'll find, but LW drives me nuts when he's on.

Not just the outlandish claims, but the delivery style: "Wait wait wait, Imma gonna tell you some earth shattering news...maybe...in an hour from now...maybe...".

$5 for gas?

Doesn't take a rocket scientist or a spiritual prognosticator to figure that out.

Every commodity on the planet is rising in price over the term of the last ten years, due in no small part to world wide fiat currency devaluation.

http://www.lewrockwell.com/orig11/Gasoline-Inflation-Adjusted.png

[Romulus]

"I beg of you"!!!!!

lol

[Anti Federalist]

"I beg of you"!!!!!

lol

LoLz, yeah, that.

[EndDaFed]

I can predict a million things and one of them will be proven right. Really this guy is a joke. Five dollar gasoline has been predicted for months now and said throughout all the major financial media. It looks like Williams picked up on that and put it through his conspiracy act.

http://www.google.com/#q=5+dollar+gas&hl=en&tbs=nws:1&prmd=ivnsu&ei=vLo0TavjMoet8Aa0ubTYCA&start=10&sa=N&fp=c354f9114ff0028e

[Pauls' Revere]

http://oil-price.net/dashboard.php?lang=en

prices have been steadily incresing since 2008. Not hard to imagine oil $100/bbl or more. Current price is $91.

[EndDaFed]

I also notice a lot of people don't seem to "get" what Lindsey Williams is saying. What he's saying is he has information from tptb about their PLANS. Not about what is GOING to happen, the elite do not have ultimate control over everything, just very large amounts of control. Sometimes they have to alter their plans, sometimes things don't go exactly how they want them to go.

What a convenient narrative to use when the bullshit he spews does not come true.

[Anti Federalist]

What a convenient narrative to use when the bullshit he spews does not come true.

I'm convinced of a "them".

Hell, "they" are out in the open and "their" plans are well publicized.

I just don't have any reason to think that LW has any special insight into them.

[jmdrake]

"They" don't mind Lindsay Williams talking about this because "they" are talking about it "themselves".

(See: http://gm-volt.com/2010/12/30/former-shell-president-predicts-5-per-gallon-gas-by-2012/ Former Shell President Predicts $5 per Gallon Gas by 2012)

That said "they" don't have complete control. So sometimes "their" predictions don't come out as planned. Also there's they possibility that "they" are manipulating the market by selectively releasing information. LW has built up something of a track record with some of the most skeptical people of the MSM. Maybe "they" want us to run out and buy Chevy volts.

[EndDaFed]

"They" don't mind Lindsay Williams talking about this because "they" are talking about it "themselves".

(See: http://gm-volt.com/2010/12/30/former-shell-president-predicts-5-per-gallon-gas-by-2012/ Former Shell President Predicts $5 per Gallon Gas by 2012)

That said "they" don't have complete control. So sometimes "their" predictions don't come out as planned. Also there's they possibility that "they" are manipulating the market by selectively releasing information. LW has built up something of a track record with some of the most skeptical people of the MSM. Maybe "they" want us to run out and buy Chevy volts.

It's akin to the head of Intel coming out and saying microprocessors are going to have two times the amount of transistors per die in the next 18 months. Where the price of oil is going is no big secret as evidenced by peak oil.

[jmdrake]

It's akin to the head of Intel coming out and saying microprocessors are going to have two times the amount of transistors per die in the next 18 months. Where the price of oil is going is no big secret as evidenced by peak oil.

Ummmm....peak oil's a best overblown and at worst a myth. I personally know where there are untapped oil reserves here in the states. Oil's like diamonds. Expensive because of contrived scarcity.

[cbc58]

i'm not going to discount what he's saying. at least i know who he is -- i've have no idea who the naysayers are or what their credentials are. pretty much what everyone has been saying all along except he's putting a timeline to it.

[Romulus]

Ummmm....peak oil's a best overblown and at worst a myth. I personally know where there are untapped oil reserves here in the states. Oil's like diamonds. Expensive because of contrived scarcity.

That and + rep.

[EndDaFed]

Ummmm....peak oil's a best overblown and at worst a myth. I personally know where there are untapped oil reserves here in the states. Oil's like diamonds. Expensive because of contrived scarcity.

So where is this sweet crude oil? I'm sure the hundreds of oil companies that exist in the states would love this information. Given that there are will over one hundred oil companies operating in the U.S can you explain why U.S oil production has peaked in the 70's with 9 million barrels of oil a day? We can only produce 5 million a day today. Any oil reserve under a trillion barrels is not going to make a dent. A billion barrels of oil can be burned up in a week and a half on the global oil market. So how can 100 oil companies form a cartel?

[sparebulb]

Lindsey Williams, in my opinion, does no harm to people with his information. The suggestion to stock up on food, extinguish debt, convert money to pm's, and to move away from vulnerable cities is what I call good advice that is not intended to harm or defraud people. I believe that he has been quite clear by frequently mentioning that he had been chosen by the elite to relay this information for reasons that even he does not know. The concept of the "devil's messiah" seems to be an explanation for why the elite choose to let information be released, and they also know that the vast majority of the public would not react to the information. If this is true, then Lindsey is truly doing God's work in trying to warn as many as will listen.

[TCE]

So where is this sweet crude oil? I'm sure the hundreds of oil companies that exist in the states would love this information. Given that there are will over one hundred oil companies operating in the U.S can you explain why U.S oil production has peaked in the 70's with 9 million barrels of oil a day? We can only produce 5 million a day today. Any oil reserve under a trillion barrels is not going to make a dent. A billion barrels of oil can be burned up in a week and a half on the global oil market. So how can 100 oil companies form a cartel?

There have been a ton of reports, at least 6 times a year or so I'll read a small article in the newspaper about some place they found oil. Virtually all the time, the problem is the cost to extract the oil. There is oil around the Grand Canyon, but they can't drill there. So, as years go by and technology gets better, we'll have access to a ton of oil for a lot cheaper than we can get it now. As far as someone calling it a cartel, uh...OPEC is a pretty well recognized cartel, so it is anything but radical to suggest there are cartels in the oil business.

[dannno]

So where is this sweet crude oil? I'm sure the hundreds of oil companies that exist in the states would love this information. Given that there are will over one hundred oil companies operating in the U.S can you explain why U.S oil production has peaked in the 70's with 9 million barrels of oil a day? We can only produce 5 million a day today. Any oil reserve under a trillion barrels is not going to make a dent. A billion barrels of oil can be burned up in a week and a half on the global oil market. So how can 100 oil companies form a cartel?

Did you even read my post earlier??


http://en.wikipedia.org/wiki/Cartel



A cartel is a formal (explicit) agreement among competing firms. It is a formal organization of producers and manufacturers that agree to fix prices, marketing, and production.[1] Cartels usually occur in an oligopolistic industry, where there is a small number of sellers and usually involve homogeneous products. Cartel members may agree on such matters as price fixing, total industry output, market shares, allocation of customers, allocation of territories, bid rigging, establishment of common sales agencies, and the division of profits or combination of these. The aim of such collusion (also called the cartel agreement) is to increase individual members' profits by reducing competition.

[jmdrake]

So where is this sweet crude oil? I'm sure the hundreds of oil companies that exist in the states would love this information. Given that there are will over one hundred oil companies operating in the U.S can you explain why U.S oil production has peaked in the 70's with 9 million barrels of oil a day? We can only produce 5 million a day today. Any oil reserve under a trillion barrels is not going to make a dent. A billion barrels of oil can be burned up in a week and a half on the global oil market. So how can 100 oil companies form a cartel?

Can you explain why after heading for the roof the price of oil plummeted a couple of years ago? The untapped oil reserves I specifically know about are in Alabama. People have known about this pool for over 100 years. That's all I'll say about it. If you don't want to believe me you don't have to. But look at the prices of crude. They just don't fit the peak oil hypothesis. And ask yourself what happened to this man when the price of oil dropped undercutting his backyard investment?

http://www.wthr.com/story/8348967/indiana-man-drills-for-backyard-oil?redirected=true

No "cartel" needed.

[EndDaFed]

There have been a ton of reports, at least 6 times a year or so I'll read a small article in the newspaper about some place they found oil. Virtually all the time, the problem is the cost to extract the oil. There is oil around the Grand Canyon, but they can't drill there. So, as years go by and technology gets better, we'll have access to a ton of oil for a lot cheaper than we can get it now. As far as someone calling it a cartel, uh...OPEC is a pretty well recognized cartel, so it is anything but radical to suggest there are cartels in the oil business.

Name the fields. Also list the type of oil and the quantity. Don't bring up the small few billion of barrels found in Brazil. What a joke of a find that is. Conspiracy or not oil in a limited resource and its price is going to go up. I don't care what type of technology is used. The ultimate return on energy will be lower than that of sweet crude.

[dannno]

What a convenient narrative to use when the bullshit he spews does not come true.

What didn't come true? The establishment WAS backing McCain as their first choice.. in fact they gave Obama so much "bad" publicity (we all know pretty much any publicity is good publicity) that their third choice puppet made it in cause the first two puppets were too much like the last one.

[EndDaFed]

Can you explain why after heading for the roof the price of oil plummeted a couple of years ago? The untapped oil reserves I specifically know about are in Alabama. People have known about this pool for over 100 years. That's all I'll say about it. If you don't want to believe me you don't have to. But look at the prices of crude. They just don't fit the peak oil hypothesis. And ask yourself what happened to this man when the price of oil dropped undercutting his backyard investment?

http://www.wthr.com/story/8348967/indiana-man-drills-for-backyard-oil?redirected=true

No "cartel" needed.

It's called supply and demand. An economic down turn is enough demand destruction to warrant a drop in price. It will more than likely happen again after the next run up.

[dannno]

Conspiracy or not oil in a limited resource and its price is going to go up.

Except for when it went from over $150/barrel down to under $50/barrel, precisely where Lindsey Williams called it... everybody thought he was insane for making that call, even I had a hard time believing it.

[jmdrake]

It's called supply and demand. An economic down turn is enough demand destruction to warrant a drop in price. It will more than likely happen again after the next run up.

Not the amount of price destruction that we actually saw. But assume that your right. That doesn't change the effect that this drop in demand has on wildcatters. So production ends up not increasing. And some people interpret that as a "peak".

[sparebulb]

Except for when it went from over $150/barrel down to under $50/barrel, precisely where Lindsey Graham called it... everybody thought he was insane for making that call, even I had a hard time believing it.

Danno, I really hope that this was a freudian thing. Definitely a phallic symbol.

[Anti Federalist]

Name the fields. Also list the type of oil and the quantity. Don't bring up the small few billion of barrels found in Brazil. What a joke of a find that is. Conspiracy or not oil in a limited resource and its price is going to go up. I don't care what type of technology is used. The ultimate return on energy will be lower than that of sweet crude.

The Deepwater Horizon had hit the Tiber find of 6 billion barrels in Keathly Canyon the year before it blew up.

That was the reason that all the "wheels" were onboard congratulating them just before.

Perdido, Thunder Horse and Happy Jack are just a few of the finds of similar size, just in the limited areas of the GoM that can be explored and that have been found.

All of these are on indefinite hold while the administration dallies and plays with itself.

Untapped massive reserves exist off the east coast and under the Great Lakes.

[dannno]

Danno, I really hope that this was a freudian thing. Definitely a phallic symbol.

Ya I tend to mix-up their names sometimes..

[Zippyjuan]

The US alone consumes about seven billion barrrels a year- the entire world, about 31 billion. Unless you are finding at least 35 billion barrels a year, the supplies will be decreasing. The US reports proven oil reserves of about 21 billion or enough for our own demand for about three years. In 1970 we had reported proven reserves of 39 billion barrels. Prudhoe Bay is the US's largest reported find- and it has been in decline in production since the 1990's. Lindsey Williams has claimed that Gull Island (which is within Prudhoe Bay) has "more oil than all of Saudi Arabia". If that oil actually was there, the oil companies already in Prudhoe Bay would be pumping it up- rather than watching their production decline there.

Preliminary estimates of the Deepwater Horizon well was for four billion barrels with about 35% (or 2.6 billion barrels) recoverable. That would be enough to meet US demand for about four months. http://www.creditwritedowns.com/2010/05/how-bps-deepwater-horizon-oil-find-was-originally-reported-in-september-2009.html

BP said in a statement on Wednesday that it had made the "giant" find at its Tiber Prospect in the Keathley Canyon block 102, by drilling one of the deepest wells ever sunk by the industry.

Further appraisal will be required to ascertain the size of volumes of oil present, but a spokesman said the find should be bigger than its Kaskida discovery which has over 3 billion barrels of oil in place.

Estimates of recoverable reserves range from around 20 percent of oil in place.

"Assuming reserves in place of 4 billion barrels and a 35 percent recovery rate, BP’s proven reserves .. would rise by 868 million barrels — equivalent to 4.8 percent of the group’s 18.14billion barrels of proven reserves," Aymeric De-Villaret, oil analyst at Societe Generale said in a research note.



so to keep up with US demand, you need at least three Deepwater Horozon's every year.

[dannno]

Lindsey Williams has claimed that Gull Island (which is within Prudhoe Bay) has "more oil than all of Saudi Arabia". If that oil actually was there, the oil companies already in Prudhoe Bay would be pumping it up- rather than watching their production decline there.


Again, that is under the assumption that the oil industry is not operating as a cartel.

[EndDaFed]

The Deepwater Horizon had hit the Tiber find of 6 billion barrels in Keathly Canyon the year before it blew up.

That was the reason that all the "wheels" were onboard congratulating them just before.

Perdido, Thunder Horse and Happy Jack are just a few of the finds of similar size, just in the limited areas of the GoM that can be explored and that have been found.

All of these are on indefinite hold while the administration dallies and plays with itself.

Untapped massive reserves exist off the east coast and under the Great Lakes.

The world consumes 80 million barrels a day. That 6 billion find is only 75 days worth of world consumption. Now if only Americans were to consume that oil it would only last just under a year.

[sparebulb]

Ya I tend to mix-up their names sometimes..

I almost did the same thing. Dudes shouldn't be given girls names. Well, that's assuming Graham is a dude.

[Zippyjuan]

Even cartels would prefer to draw on cheaper to produce oil if they have access to it. BP is a major partner in Prudhoe Bay. Would they rather spend billions drilling holes in the Gulf of Mexico to incredible depths if they could get billions of barrels at much lower cost in Alaska- where they already have distribution facilities in place? Anti Federalist mentions the Perdido field. To get there, you have to travel 20 hours by boat. The production field will include a total of 35 wells plus over two hundred miles of pipes underwater to transport the oil. Deep water rigs can cost up to a billion dollars each- and the expected peak production from this field is 100,000 barrels a day. It is 8,000 ft. just to the bottom of the sea there. Then you have to add your drilling depth. After all that you will have to watch out for hurricanes.

Consider too Saudi Arabia. They never publicly announce any oil related figures but they seem to be having difficulties maintaining their production as well. Not a newly found oil field (it was discovered in the 1960s) but Saudi Arabia recently began pumping at a field in Khurais. They spent an estimated over ten billion dollars on the facilities there. Why haven't they used the field until now? One was its remoteness. Another is that it is an expensive field to operate. The oil is lower quality than the oil at their largest oil field, Ghawar, and will require more refining. It is also a very low pressure field. It is not that unusual to pump in water into a dying oil field to try to float out more oil before it gets shut down, but this field will require water being pumped in from the very start. It is estimated that it will require two barrels of sea water pumped in for each barrel of oil they take out (they built enough capacity for four million barrels of water to be pumped in and expect to extract about 1.2 million barrels of oil a day). It means multiples of wells- two water pumpers for each oil extractor- and multiple pipelines- again to bring water in and take the oil away. It is not practical to do this unless oil gets and stays above a certain price. If you are a rational producer, you want to get the lower cost oil up before you spend money on a project like this.
http://www.hydrocarbons-technology.com/projects/khurais/

There is a lot of oil in the ground, true, but it gets progressively more expensive to get it out of the ground and into usable forms. There was an estimate that the western US has as much as a trillion barrels of oil- but it is locked up in oil shale. You can't drill into the ground and simply pump up that oil- it is locked up in rocks which you have to extract, crush, and heat to extract the oil. The process requires a lot of both water and energy. Current extraction technology requires the energy equivellent of half a barrel of oil to extract one barrel of oil from the shales. They are also found in areas with limited water resources. Power plants would have to be constructed to provide the energy to extract the rocks and oils. Again, very expensive. It can be done, but the price of oil has to be high enough to make it worth while and that will mean that there will not be cheaper oil to pump up elsewhere.

[Anti Federalist]

so to keep up with US demand, you need at least three Deepwater Horozon's every year.

Once the concept of ultra deepwater/lower tertiary drilling was proved, that was about the rate, and then some, that we were on, from 2005 onward.

And that was from a relatively tiny section of offshore area from roughly Texas to the FL/AL line offshore that had just started to be surveyed in the deepwater.

That has come to a screeching halt as of April 2010.

[Anti Federalist]

The world consumes 80 million barrels a day. That 6 billion find is only 75 days worth of world consumption. Now if only Americans were to consume that oil it would only last just under a year.

2/3 of the Earth's surface is water.

That has only begun to be explored for oil and gas.

80 percent or more, just in this country, is closed by government decree, where there is known gas and oil deposits.

[Zippyjuan]

One reason that the Alaskan pipeline is having more problems is because there is less oil flowing through it- which means less pressure than it was designed to handle. At its peak, the Alaskan Oil Pipeline was handling 1.5 million barrels a day. http://en.wikipedia.org/wiki/Prudhoe_Bay_Oil_Field That was back in 1979. When it was temporarily shut down this past week, it was producing 660,000 barrels a day. http://www.commondreams.org/headline/2011/01/10-1 or less than half of its peak capacity. If the flow gets too slow, it could possibly freeze.

[Zippyjuan]

Once the concept of ultra deepwater/lower tertiary drilling was proved, that was about the rate, and then some, that we were on, from 2005 onward.

And that was from a relatively tiny section of offshore area from roughly Texas to the FL/AL line offshore that had just started to be surveyed in the deepwater.

That has come to a screeching halt as of April 2010.

Three new DeepWater Horizon's only cover the US consumption. To cover world consumtion you need twelve of them or one every single month every single year.

The estimated maximum production for the entire Perdido Field you mentioned earlier (couldn't find estimates of total oil there) was 100,000 barrels a day. Since we consume 20,680,00 a day (2007 figures http://www.nationmaster.com/graph/ene_oil_con-energy-oil-consumption ) you need over 200 times that to match US consumption.

Another thing to consider. One by one, oil producing coutries are turning from being net exporters to net importers. This points to "peak oil" as well. The US used to be the largest exporter of oil in the world. Now we are the biggest importer. Britain has made the change. Indonesia. Egypt. China. Denmark. Norway. Iran and Mexico and Venezuala are in danger of joining that club in the next decade. Even powerhouse Brazil could (their domestic consumption is rising faster than production as well). Their production and domestic consumption are about the same right now. http://www.crudeoilpeak.com/?page_id=1571

[MN Patriot]

Again, that is under the assumption that the oil industry is not operating as a cartel.

It seems cartels would allow all competitors to work less for more money, rather than work more for less money.

Kind of like unions.

That would explain why so many proven reserves are locked up by government decree. The free market arguments would say that explanation is flawed, but we are not a free market economy.

[Anti Federalist]

Three new DeepWater Horizon's only cover the US consumption. To cover world consumtion you need twelve of them or one every single month every single year.

I realize that.

We were finding that, in about no more than 20 percent of (already very heavily explored) total US offshore waters.

Imagine what could be found beyond that.

Nothing outside the deepwater GoM has even been surveyed past about 500 feet of water depth.