Yes, peak oil is happening. But there’s more to $100 a barrel oil than that.
Stock and option trader Phil Davis explains in a post on Sept 18 how oil prices are deliberately manipulated by the futures market traders (he calls it “collusion” ) to create artificial shortages and drive prices higher. They do it by canceling orders at the last moment to create an artificial shortage. He says it’s been happening every month for the past 2 years.
He wrote that when crude oil was breaking $80, now it’s about to break $100.
His conclusion:
It is all smoke and mirrors and it all takes place on the open trading floor of the NYMEX and it’s costing the American people (at $80 a barrel) $1.6Bn per day, $11.2Bn per week, $48Bn a month – $576Bn a year. It’s a crime that’s committed right under our noses and the only way to stop it is for you to get mad!
“War is when the government tells you who the bad guy is. Revolution is when you decide that for yourself.”