$200 Dollar a Barrel Oil Is the Bilderberg Plan to Destroy the Middle Class

Oil Settles Above $105, as Gasoline Demand Rises

“The global elite are conspiring to send oil prices crashing through the $200 dollar a barrel mark as part of an organized agenda to hike profits, bring about a global economic crash and torpedo the middle class.” - Steve Watson, Oil Continues Steady Climb, Infowars, January 5, 2011

March 23, 2011

AP - Oil prices made up for a week-long slump following the Japanese earthquake and are now trading at the highest levels since September 2008.

Prices climbed early Wednesday after an Energy Department report showed that gasoline consumption continues to grow despite sharp price increases at the pump.

Traders also kept a wary eye on pro-democracy protests and outright rebellions in North Africa and the Middle East. The region supplies 27 percent of the world's oil. Crude prices jumped after a bomb exploded at a crowded bus stop in central Jerusalem, killing one person and wounding 20 others. Authorities called it the first major Palestinian militant attack in the city in several years.

Benchmark West Texas Intermediate crude for May delivery added 78 cents to settle at $105.75 per barrel on the New York Mercantile Exchange. Oil hasn't settled that high since Sept. 26, 2008.

The Energy Information Administration's report suggested that motorists are handling higher fuel costs without cutting back. At a national average of $3.548 per gallon, gasoline pump prices are the highest ever for this time of year and have reached a point where economists expect consumers to start to cut spending.

If they use less gas, it'll be a key tipping point for the fragile economic recovery.

Many Americans are reluctant to trim their driving, so a drop in gas consumption means "they're doing a lot of other things less," said Kenneth Medlock, an energy expert at Rice University.

"It means they're going out to dinner less, going to the mall fewer times, going to the movies fewer times," Medlock said.

Consumer spending will drop in other areas, and that will hurt businesses that have been trying to rebound from the recession, he said. So far, however, the U.S., which consumes more petroleum than any other country, doesn't seem to have balked at higher gas prices.

The EIA said motorists consumed an average of 9.1 million barrels per day of gasoline, up 1.2 percent from the same period last year. EIA said demand has increased each of the past five weeks when compared with 2010. The government report also said gasoline supplies dropped last week by 5.3 million barrels, more than twice as much as expected.

Oil prices have jumped about 24 percent since the middle of February when fighting broke out in Libya and threatened the country's oil fields. The clash between Moammar Gadhafi and rebels has shut down most of the country's oil production, which had supplied nearly 2 percent of world demand. Experts say Libya's exports will stay off-line for months.

The surge in oil prices slowed with the crisis in Japan. The earthquake and tsunami hammered the world's third-largest economy, and Japan's oil consumption was expected to shrink while it picks up the pieces. That only lasted for a week, however, and oil prices rose again as Japan's damaged refineries went back online.

Gasoline has followed oil higher this year, jumping 37.7 cents per gallon just in the past month, according to AAA, Wright Express and Oil Price Information Service. The increase has forced Americans to pay roughly $142.5 million more per day to fill up.

"It's very possible we'll see a national average of $4 per gallon this year," PFGBest analyst Phil Flynn said.

And it could go higher. If fighting in the Middle East escalates to the point where exports from other countries are affected, Flynn said oil prices could spike to $200 per barrel, pushing gasoline to $5 per gallon.

Until the unrest is resolved, "I'm not taking $5 gas off the table," Flynn said.

Experts disagree at what point motorists will begin to conserve fuel. Exxon Mobil Corp. CEO Rex Tillerson said Americans started cutting back in 2008 when gasoline hit $4 per gallon. Three years later, analysts say the tipping point could be from $3.50 to $4.50 per gallon.

Fred Rozell, retail pricing director at Oil Price Information Service, said "it's too early to tell" whether surging energy prices will force drivers to buy less gas. Rozell said some gas station owners are noticing that people are buying less on the weekend, though it's unclear whether those customers have simply found cheaper prices somewhere else.

In other Nymex trading for April contracts, heating oil dropped 2.12 cents to settle at $3.0550 per gallon and gasoline futures added 1.68 cents to settle at $3.0213 per gallon. Natural gas gained 8.1 cents to settle at $4.335 per 1,000 cubic feet.

In London, Brent crude lost 17 cents to settle at $115.47 per barrel on the ICE Futures exchange.

Flashback: $200 Dollar a Barrel Oil Is Bilderberg Plan to Destroy Middle Class

Elitists use peak oil scam, market turmoil, threat of Iran war to hike profits, torpedo middle class

September 17, 2007

Prison Planet - The global elite are conspiring to send oil prices crashing through the $200 dollar a barrel mark as part of an organized agenda to hike profits, bring about a global economic crash and torpedo the middle class, and they're not afraid to attack Iran as a means of achieving their goal.

Crude oil prices returned to near record high prices today after having surged past the $80 a barrel benchmark on Thursday.

Now there is serious debate about oil crashing not just the $100 dollar, but the $200 dollar a barrel level in the next two years.

The 24/7 Wall Street blog, which is affiliated with both Dow Jones' MarketWatch and The Wall Street Journal, carried an article over the weekend that entertained the possibility of oil tipping the $200 mark, citing experts in the industry who expect the $95 a barrel level to be surpassed by the end of the year if the recent stock market turmoil continues.

The ultra-secretive Bilderberg Group, a consortium of power brokers from banking, business, politics, academia and oil, met in Munich Germany in May 2005 when crude oil prices were around the $40 a barrel mark.

During the conference, Henry Kissinger told his fellow attendees that the elite had resolved to ensure that oil prices would double over the course of the next 12-24 months, which is exactly what has happened.

During their 2006 meeting in Ottawa Canada, Bilderberg agreed to push for $105 a barrel before the end of 2008. This information was gleaned from sources inside Bilderberg who have proven reliable in the past.

Though Bilderberg claim they are merely a talking shop and formulate no policy, they were also responsible for the decision to delay the invasion of Iraq until March 2003 after it was initially intended to take place in late 2002.

Bilderberg have sworn to bring about what Jose Barroso, President of the European Commission and a Bilderberg member, refers to as the "post-industrial revolution," which in layman's terms translates as a global economic crash, another great depression and the total evisceration of the middle class.

This will be accomplished by hyping the doomsday threat of global warming in alliance with the promotion of peak oil.

Peak oil is a scam manufactured by the oil companies to create artificial scarcity and drive up profits for transnational oil cartels. It was first originated in 1956 by Shell Oil's M. King Hubbert, who said that only one and a quarter trillion barrels of crude were left, a figure that was surpassed at the end of 2006. According to Hubbert's original calculations, the planet should already have produced its last drop over nine months ago.

By pushing peak oil theories and tying them in with the man-made global warming fraud, Bilderberg seeks to jack up oil prices to the point where the living standards of the middle class become unsustainable and the west is lowered into second world status while fat cat elitists reap the financial and political bounty.

A military attack on Iran is also essential for the globalists to kick-start an economic collapse coupled with a massive hike in oil prices. French Foreign Minister Bernard Kouchner told a French TV station yesterday that the world should prepare for war with Iran as rhetoric around the possibility of conflict grows bellicose.

Experts have predicted that should an attack occur, Iran would immediately cease oil exports, pushing the price per barrel well beyond $100 almost immediately, inflating gasoline prices and kicking off a worldwide energy crisis and a recession.

2003 to 2008 World Oil Market Chronology

Back in 2004 the government’s worst case scenarios had oil reaching $26 per barrel by 2025. This afternoon oil reached $125.98, the fifth day this week we had a record high price for oil. And we are not even halfway through 2008 yet. Goldman Sachs recently pronounced that oil may soon reach $200 per barrel. - The sooner oil hits $200 per barrel, the better!, GreenMonk, May 9, 2008

Wikipedia - From the mid-1980s to September 2003, the inflation adjusted price of a barrel of crude oil on NYMEX was generally under $25/barrel. Then, during 2004, the price rose above $40, and then $50.

A series of events led the price to exceed $60 by August 11, 2005, and then briefly exceed $75 in the middle of 2006. Prices then dropped back to $60/barrel by the early part of 2007 before rising steeply again to $92/barrel by October 2007, and $99.29/barrel for December futures in New York on November 21, 2007.

Throughout the first half of 2008, oil regularly reached record high prices. On February 29, 2008, oil prices peaked at $103.05 per barrel, and reached $110.20 on March 12, 2008, the sixth record in seven trading days.

Prices on June 27, 2008, touched $141.71/barrel, for August delivery in the New York Mercantile Exchange (after the recent $140.56/barrel), amid Libya's threat to cut output, and OPEC's president predicted prices may reach $170 by the Northern summer.

The most recent price per barrel maximum of $147.02 was reached on July 11, 2008. After falling below $100 in the late summer of 2008, prices rose again in late September. On September 22, oil rose over $25 to $130 before settling again to $120.92, marking a record one-day gain of $16.37.

Electronic crude oil trading was temporarily halted by NYMEX when the daily price rise limit of $10 was reached, but the limit was reset seconds later and trading resumed. By October 16, prices had fallen again to below $70, and on November 6 oil closed below $60.

As the price of producing petroleum did not rise significantly, the price increases have coincided with a period of record profits for the oil industry. Between 2004 and 2007, the profits of the six supermajors - ExxonMobil, Total, Shell, BP, Chevron, and ConocoPhillips -- totaled $494.8 billion.

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