Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Rat's Nest - Chronicles of Collapse -- Ignore unavailable to you. Want to Upgrade?

To: Wharf Rat who wrote (8059)	7/5/2008 10:20:55 AM
From: Wharf Rat	Read Replies (1) \| Respond to of 24233

U.S. investor: Oil reserve decline is major reason behind oil price hike 09:44, July 05, 2008 U.S. investor Jim Rogers has said that the decline in known oil reserves across the world is the main reason behind the skyrocketing oil prices that have already topped 145 U.S. dollars a barrel. While admitting that factors driving up oil prices are various, Rogers insisted that short of oil supply was the fundamental factor pushing oil prices up all the way. "Nobody has discovered any major oil fields in over 40 years, while known oil reserves are declining amid a situation that the demand is boiling," he said, adding that oil prices will no doubt go higher unless somebody finds a lot of oil quickly, Rogers said in a telephone interview with Xinhua Thursday. "Nearly every oil company has declining oil reserves, nearly every oil country in the world has declining oil reserves," he said, noting that "the known oil reserve will not last 100 years." Rogers said that he was "not good at short-term trading" and predicting the price trend in a short period, but it is obvious that oil prices "will maintain an upward trend over a longer period" because the conflict between oil supply and demand is a big problem. Rogers blamed the U.S. government for driving down the value of the dollar, saying that the U.S. government should do something about the currency. He said he has been "very vocal" about the U.S. dollar policy and criticized its "mistakes" as having been printing a lot of money since last August and lowering interest rates dramatically. All these factors have helped drive up the prices of the dollar- dominated crude oil, he said. Noting that the sharp rise in oil prices will change people's lives, he said they have to change their lives "accordingly." Rogers highly recommended the use of nuclear fuel, saying that it is cheaper and cleaner than anything else, adding "if you are careful with it, it is safe." In September 2007, Rogers sold his mansion in New York City for about 15 million dollars and moved to Singapore, mainly due to his belief that this is a ground-breaking time for investment potential in Asian markets. english.people.com.cn

To: Wharf Rat who wrote (8059)	7/5/2008 10:48:02 AM
From: see clearly now	Read Replies (1) \| Respond to of 24233

Actually it changed in 2002-2003..when we exported Disaster Capitalism big time with the 'war on terror' to literally attempt steal the remaining cheap, to get oil and neuter the civilian government of the US..freeing the full unimpeded forces of the Military-(large) corporation forces to have free reign. ....the "blowback" was the unintended consequences of the financial virus created by the lack of controls on the financial-banking sector which looks like it will take down the US Empire with its large corporations going bankrupt or being squeezed out of the worlds energy markets and no tax base in the 'homeland' to finance the Military force behind the 'Disaster Capitalism' as described by Naomi Klein in her most recent book...