Wednesday, June 14, 2017

The Big Oil Lie
 We have all heard that the cost to implement renewable energy sources comes with a high price tag. But what if we discovered that other countries have implemented these renewable sources and saved money while in doing so? Would that call for an explanation given the information we have heard so far? According to this video, this theory was formed in 1956 by geoscientist M. King Hubbert. While working for Shell, he calculated that the United States would reach its highest production of oil by 1971, and he was right. He predicted the world's highest rate of oil production would be in 1995; but since then, oil industry experts have continually moved the predicted date of peak oil production. The current prediction is for world oil production to peak by 2030. Because of this, prices are expected to remain high for the next two decades, in order to reduce demand and stop the oil from running out too soon. Once the peak has been exceeded,prices will skyrocket again to reflect the limited supply.

Author Jerome Corsi claims that peak oil production is a false prediction created by the oil industry. Because the predicted date is constantly moving and is determined by scientists working for the industry, conspiracy theorists claim the oil industry is using the Peak Oil Theory as an excuse to charge exorbitant prices for oil for the next 50 years. Oil companies admit setting aside up to 2 million barrels of oil each day for future use. In 2014, Goldman Sachs estimated that the rate of crude oil being produced is increasing nearly twice as fast as the rate of world demand. Conspiracy theorists claim this is clear evidence that the oil industry is lying - they have more than enough oil, and are pretending to have decreased supplies simply so they can rake in the cash.(The Big Oil Lie) Watch the video and decide for yourself whether its a lie or not....

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