Got Oil? Want Oil?
Wolfie — September 9, 2005, 2:09 pm
So you think that rising oil prices are due to hurricane Katrina? Or maybe even political instability in the Middle-East? Think again. There is enough oil under the ground worldwide to choke us all to death, its the refining capacity with is causing the squeeze and it just may be done simply to drive up prices. Take a look at this memo, I will concede that it may well be counterfeit as I can’t verify its authenticity. Who knows.
Filed under: politics
I have just seen the pdf you point to previously with memo.
http://www.consumerwatchdog.org/energy/fs/5104.pdf
No reason not to believe this (dated 1996) at all. A judicious investment in say Valero (the biggest US refiner) 18 months ago would have seen your money treble.
I cannot give you the ref but if you google the Rand author details you will find it. Well worth reading. Good History lesson , but you don’t move forward by looking in the rear view mirror all the time.
I always lean towards the cautious side when considering information not sourced from regulated sources such as the BBC. However the evidence at the moment does back up its authenticity as well as my natural cynicism. Thanks for the feedback.