I don't have the time or patience to dig through his videos (he takes so darn long to get to the point he tries to make) but this is a summary of his 2008 video:
1)There were no new major oil fields in Russia or Indonesia (let alone enough to be more than the total reserves of Saudi Arabia).Basically, Mr. Williams was told that over the next twelve months, from mid-2008 to mid-2009,
(1) news of super giant oil fields, ready to produce, would be announced for two locations, in the Northern Slopes of Russia and in Indonesia, which oil fields would together contain more oil reserves than the entire Middle East;
(2) that this news would drive oil prices down to $50/barrel;
(3) that OPEC countries, especially in the Middle East, would be bankrupted by this price decrease;
(4) that this would cause the financing of our foreign trade and current account deficits through purchases of treasury paper by foreign nations with their surplus oil profits to collapse, leading to the collapse of the dollar;
(5) that the collapse of the dollar would cause unprecedented financial strife and turmoil in the US, and that it would take many years for the US to recover from this financial debacle;
(6) that they (big oil) support John McCain for President; and
(7) that US domestic oil reserves would never be tapped, and that any legislation which might allow domestic reserves to be tapped would not be allowed to pass, leaving the US dependent on foreign oil forever.
2) Yes, the price of oil did briefly go to $50 a barrel (the fall was due to the collapse in global demand for oil due to the economic crisis) but
3) it did not bankrupt the Middle East.
4) the dollar did not collapse and the current account deficit shrank- not grew http://www.bea.gov/newsreleases/inte...nual09_fax.pdf
5) There was not "unprecidented financial strife and turmoil" (the worse of the financial crisis had alread happened- it did not get worse in 2008- 2009)
6) John McCain was not made president. ("John McCain is their man. They will do whatever it takes to make sure he gets elected" is what he said.
7) Oil leases were not banned but instead more leases were sold. http://www.blm.gov/wo/st/en/info/new...1_10_2012.html
I don't see "95% correct predictions".
- RonPaulForums.com is an independent grassroots outfit not officially connected to Ron Paul but dedicated to his mission. For more information see our Mission Statement.