Thursday 3 June 2004

It's All About the Oil

Today I have reviewed the situation Iraq in relation to how and why the coalition occupation will affect your current dollar, gold, and oil investments. The Bush administration is well aware that there is a global energy crisis looming and steps have been taken to secure oil reserves in the Mid East. Billions of dollars of new debt creation will be needed for this mission to be accomplished which will not bode well for the U.S. dollar. Holding gold and oil related investments remain a smart choice.

Iraq: It’s all About the Oil

Months before the U.S. attacked Iraq last year, I foretold readers that there is no way Bush would not invade and the reason for the invasion had nothing to do with finding weapons of mass destruction (WMD’s) or any other excuses Bush and company were trying to sell us.

Today we know that there were never any WMD’s but the main stream media still doesn’t understand why U.S. forces are there and why they are unlikely to ever leave.

Iraq Invasion Planned Before September 11, 2001

Five months before September 11th, Vice-president Dick Cheney, chaired a National Energy Policy Development Group (NEPDG) study on 'energy security' from the Baker Institute for Public Policy, a think-tank set up by James Baker, the former US secretary of state under George Bush Sr.

The report, Strategic Energy Policy Challenges for the 21st Century, concludes: “The United States remains a prisoner of its energy dilemma. Iraq remains a de-stabilizing influence to ... the flow of oil to international markets from the Middle East . Saddam Hussein has also demonstrated a willingness to threaten to use the oil weapon and to use his own export program to manipulate oil markets. Therefore the US should conduct an immediate policy review toward Iraq including military, energy, economic and political/ diplomatic assessments.”

The NEPDG report described how America is facing the biggest energy crisis in its history and recommended the use of 'military intervention' as a means to fix the US energy crisis.

Michael Meacher, a former British Environment Minister (1997-2003) stated that in his view, the NEPDG report was a political smokescreen to cover up the fact that the U.S. and the U.K. are beginning to run out of secure hydrocarbon energy supplies. He went on to say that the 9/11 attacks gave the “ideal pretext to use force” in order to secure the region.

The report is linked to the usual gang of Washington insiders and also representatives of the oil industry. There has been some question as to who these oil industry representatives were and what they suggested their companies could do to solve the global oil problem.

In June of 2001, a political watchdog organization called Truthout filed a suit to demand the full disclosure of the NEPDG report but was blown off by the Bush Administration. Later the General Accounting Office (GOA) got involved and also filed a suit in order to get full disclosure on the report. The GOA had every right to know since Congress approved the budget to have the study done in the first place. However, they had no luck either and the GOA was eventually blackmailed into backing off. The congressional newspaper The Hill reported in February of 2003 that the GAO had dropped its suit after the administration made threats of heavy cuts to their budget.

This all seems very strange. Now after three years the matter is finally going before the Supreme Court who issued a statement in December that it would settle the fight over whether Cheney must disclose the details about the secret contacts he had with energy industry officials.

A ruling is expected by July however I doubt that we will ever find out any more then we already know. It seems that Cheney and his new friend, Justice Antonin Scalia, who will preside over the case, went duck hunting earlier this year. I can only imagine what they discussed.

Though there is much speculation on what else the NEPDG report contained, what we know for sure is that U.S. forces invaded for reasons which have proven to be false but corresponded to the NEPDG report recommendations. However Iraq which has 11% of the world’s oil reserves is just phase 1.

If you believe in the theory that the Bush administration is following the recommendations of the NEPDG report, then Saudi Arabia will be the next country to see a U.S. led security force around their prized Saudi oilfields. Saudi oil represents a whopping 25% of the world’s reserves.

As I have mentioned in the past, Saudi Arabia is on the brink of a revolution. There is in-fighting between the royal families for control and there exists within their population a group of hard core extremists who are bent on toppling the monarchy. One should remember that the money, leadership, and the participants of 9/11 came from Saudi Arabia.

All these facts haven’t been lost on the Bush Administration. The most obvious fact of all is that if Saudi Arabia self-destructs, not only will the U.S. economy go into a tail spin, but the whole world will be in a major economic crisis.

To be honest, the west doesn’t give a damn about the Mid East. If you take away their oil, what are you left with?

Think about it. If there was no oil, the U.S. forces would never have gone to Iraq because U.S. interests would not have been there. If there were no U.S. interests in the Mid East then we wouldn’t have had 9/11 or the ongoing terrorist alerts. Al-Qaeda would not exist because the power structure which has been built around the wealth of oil would never have existed.

It’s nice to dream but the reality is that the world is dependent on oil and one-third of it comes from a relatively small area of land bordering around Iraq and Saudi Arabia.

It’s always been about the oil.

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