posted on Jun, 8 2008 @ 08:02 AM
The G8 - UK, Canada, France, Germany, Italy, Japan, Russia and the United States - were joined by China, India and South Korea which together consume
65% of the world’s crude oil. The 11 countries are urging - say begging - the major oil producing countries to increase production substantially and
promptly lest the world sink into a depression.
Q. Should we let the OIL moguls and the out of control commodity SPECTATORS kill us all?
Solution: 1) Close all commodity markets at once. And not to be reopened until new rules are in place. Primarily new rules must limit
participation only to those who are in the industry that produces, processes and distributes the particular commodity they are bidding on or buying.
“Gamblers take you business to Las Vegas!”
2) Create an world-wide UNITARY Buying Authority - UBA - to which ALL oil producers who engage in international commerce MUST sell their product.
The initial price paid to producers would be rolled back to the prevailing price on August 31, 2001. Refusals would not be accepted. NOte: The
price-fix date was purpose chosen prior to the Nine Eleven Event. Blackwater would be retained on-call to seize hold-out oil fields. Halliburton would
be retained on-call to operate such fields until the recalcitrant country agrees to participate enthusiastically. If you don’t subscribe to UBA, you
The UBA would allot oil production to every nation at 83% of the amount they received on the price fixing date. Russian as a net exporter would not be
effected except the price of their crude would fall by a considerable amount. The US is the LARGEST importer of crude oil despite being the No. 3
producer in the world. You can take it to the bank the US Bush Administration would refuse to participate. So be it.
When pump prices pass the $7 a gallon mark, even George W Bush - The Decider - would wake up. The US would either “come along” or “go it
alone.” Withdrawing at 13 mpd - million barrels per day - how long will our 900 million barrels strategic oil reserve last? Do the numbers.
Immediately the UBA would take applications for product in excess of the initial allotted amount. Each country wanting more crude oil most conform to
Kyoto before more oil will flow. Thank you George, maybe we’ll see you here after all? Other measures such as an approved “sale” of global
warming gasses quotas must be in place.
A fifty-year goal of a per capita EQUAL access to crude oil would be adopted as the guiding principle of the UBA. The obvious temptation by selfish
self-serving national leaders to re-sell all or part of a nation’s allotment could be dealt with very easily.
Radiating natural elements in trace amounts would be added to the crude oil at the well-head and bar coded to each country. Then, follow-up Geiger
counting bar coding devices could easily detect crude oil or refined product that had been transferred outside the UBA.
The offending country would be penalized by reducing by a like amount of its allotment. The accepting country would also be penalized by losing the
same amount of its allotment. By hitting hard and quick both the seller and the buyer, I believe a re-run of the failed Iraq “Oil for Food”
program could be avoided.
It is only a matter of time before the World must adopt some plan like this. If and when we pass the debated PEAK oil moment, it will become an
immediate necessity. The current spike in prices is mostly attributable to our UNREGULATED commodity markets and to our UNREGULATED mutual funds,
hedge funds and sovereign wealth funds. Anyone who calls buying a FUTURES CONTRACT an INVESTMENT does not know what he or she is talking about. (OK,
that’s unless the fix is in). This is no game. This is for survival.
[edit on 6/8/2008 by donwhite]