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Crude oil on the brink of crisis

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posted on Jun, 24 2014 @ 10:18 PM

Brent crude hit a nine-month high inching past $117 a barrel as the United States said it could send military advisers to Iraq, raising concerns about the escalating conflict.

Meanwhile, Iraqi government forces continued to battle Sunni militants for control of Iraq’s biggest refinery as US President Barack Obama said the United States will send up to 300 military advisers to Iraq to combat the extremist insurgency. The Baiji refinery near Tikrit, 200 km north of the Iraqi capital, remained under siege as troops loyal to the Shi’ite-led government held off insurgents from the Islamic State of Iraq and the Levant and its allies who stormed the perimeter, threatening national energy supplies.

While fighting between Sunni militants and government-led forces continued north of Baghdad, the conflict had not yet spread to the country’s southern regions, where most of Iraq’s 3.3 million bpd of oil production is processed. Fire broke out previously after militants attacked the 310,000-b/d hydroskimming and hydrocracking refinery in Salahudin province.

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edit on Wed Jun 25 2014 by DontTreadOnMe because: shortened overly long quote

posted on Jun, 24 2014 @ 10:23 PM
a reply to: FistOfFreedom

They're just trying to get us 'mericans to rally around WW3 so the IMF/Fed can make more money off of our stupidity and dead soldiers (sons and daughter, fathers and mothers).

Trust me, it's going to be even worse when the dollar collapses due to the rest of the world understanding what the cabal banksters do for a living.

- or, they're all in on it (the elite) and they just want to kill 2/3rds of the population and introduce the mark and control all "money".

Choose your poison.....

posted on Jun, 24 2014 @ 10:36 PM
a reply to: FistOfFreedom

Brent crude hit a nine-month high inching past $117 a barrel as the United States said it could send military advisers to Iraq, raising concerns about the escalating conflict.

All part of the Petro/Banker complex.

Oil prices will bring society to it's knees.

100% controlled.

posted on Jun, 24 2014 @ 10:52 PM
a reply to: FistOfFreedom
Where I live --- The Industry I work in --- They make up new celebrations with every new potential conflict in the Middle East.
The rest of the world sighs in disbelief... My compatriots go out and buy new cars and houses and PRAY that the conflict/s never end.
I'm sorry to say. It is...disgusting.

posted on Jun, 24 2014 @ 10:56 PM
I think they can kick this dollar crisis down the road for another 6 years, hell even 20. Slow decline

posted on Jun, 24 2014 @ 11:10 PM
And the world keeps on turning, turning, turning, into the future.
Steve Miller

posted on Jun, 25 2014 @ 12:05 AM
God forbid millions of lard asses have to start walking or riding a bicycle when they only have to travel a mile or two. I've seen a guy fire up his v-8 to drive to a house just up the street. Supporting foreign wars is no excuse for sheer laziness.

posted on Jun, 25 2014 @ 12:20 AM
We don't need oil or the dollar. We only need 7 more doublings for solar efficiency to reach 100% (which isn't long at all). As for the dollar, well, most of you will live to see that little hat trick. Cheers.

The future is so bright that I'm going to need shades.

posted on Jun, 25 2014 @ 12:36 AM
a reply to: FistOfFreedom

These sum bag liars. Enough is enough it is time to get off oil. Way to many games being played and the money goes to scum bags across the globe. Just like Monsanto these are corporations need to be bankrupted for the good of humanity.

People are waking up fast to this game I say let them make us all pay more it will only wake more people up. This game is just about over. This whole thing is fixed and run by criminals around the globe.

posted on Jun, 25 2014 @ 12:51 AM
I don't own a car, I probably should in case I ever need to run away. But my job, my girlfriends job, the grocery store, mall and more importantly Starbucks and the hospital are all within a 1 mile radius of me.

posted on Jun, 25 2014 @ 01:00 AM
This happens every year, around the same time. Right around the time when Americans are most likely to be out driving more for camping trips and vacations.

I'm not saying its a global conspiracy to make the gas prices in the US go way up, but it is odd that every year, without fail, gas prices go through the roof for all of summer, then trickle back down come fall.

The sad part is that they prices never quite go down to where they were before, and the slightly higher price gets accepted as the new normal price. They have been playing this game for as long as i can remember.

posted on Jun, 25 2014 @ 01:29 AM
Prices rise in an unstable situation because other sellers are afraid they may be undercut in price and raise prices to compensate that momentary disruption. Prices always stabilize and steadily increase (or dollar decreased value).

Remember, if ISIS takes hold of Iraq's oil, people (US EU UK Russia China) will still buy it, just at a cheaper rate until the next "democracy installment"

posted on Jun, 25 2014 @ 01:40 AM
Could be interesting times ahead.
Here in the UK were less than 18 months from a general election.
The conservative government always gives a false economy (running up to an election ) that everything is getting better.
Costs of living comes down in 18 months of an election to tempt the population to vote conservative back in.
If the conservatives get voted back in the cost of living goes back up again.

Its going to be interesting to see how the price of oil affects us at the pumps and what the government will do to keep it lower

posted on Jun, 25 2014 @ 02:02 AM
a reply to: diddy1234

in the states we are always 4 years from change, and it never changes

posted on Jun, 25 2014 @ 02:02 AM
Another influence to consider is the effects of quantitative easing and other inflationary pressures. The USD is an unusual currency with strong national and international circulations. While the price of housing and loaf of bread reflects what is happening on the national level with inflation, the price of oil reflects what is happening on the international level.

posted on Jun, 25 2014 @ 03:41 AM
a reply to: SubTruth

We could get AWAY from fossil fuels if we proceed with a transition - not only via Blume's book but also
read the chapter on FILL ER UP WITH HEMP in Doug Fine's recent book ($15):

Hemp Bound... toward the Next Agricultural Revolution.

Although Doug on Coast to Coast during Hemp History Week in June postulates that hemp would probably be used for producing energy before being used at the pump -- like Roger Ford, CEO of Patriot Biofuels is planning in Kentucky - buying contaminated properties, bio-remediating them with hemp, then using industrial waste and hemp for gasification to produce steam to produce electricity - putting people to work in rural areas.

Eventually farmers could pull up to hemp fuel pumps and trade hemp waste for hemp biodiesel or alcohol fuel.
Optimally, hemp will be grown throughout the US for seed oil, food and then for housing, fuel, paper, paint, plastics, biocomposites,hemp crete and other building materials - Google building with hemp for a universe of the possible - already being done in 31 industrial nations that have legalized industrial hemp.

edit on 25-6-2014 by EarthShine because: misc.

posted on Jun, 25 2014 @ 04:50 AM
a reply to: TheOneElectric

Sorry to tell you this TheOneElectric but you cannot patent a solar panel in America that is more than 20% efficient.

The American Dollar is linked directly to the price of a barrel of oil, that is the true cause of the conflict in the middle east.

Conflict = Uncertainty and Uncertainty = Price Rises.

Price Rises = More Money to those who hold positions of control, influence and absolute power.

So continual conflict is good from the perspective of those who's gain from it, continually escalates!

Quite simple really...

posted on Jun, 25 2014 @ 09:52 AM
a reply to: TheOneElectric

Do go on...

posted on Jun, 25 2014 @ 11:00 AM
Time to drop oil and start making steam engines again. Even if electric vehicles gain foot, it is already owned by these greedy trash. Steam engines work and it is cheap to run. Something has to change. People should stay home for 6 months and buy nothing - let the system collapse. And what's going on in the world has nothing to do with oil's the wall street speculators who control that and they all need to be arrested for crimes against humanity. Time to stop it!

posted on Jun, 25 2014 @ 11:03 AM
a reply to: skunkape23

Uh huh, I feel ya bro.

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