Robert Newman's: History of Oil
45 min 23 sec

http://video.google.com/videoplay?docid=-5267640865741878159&q=en

As shown on Ch4 and repeated several times on More4, available at IndyBay on the web and many other places, now on google video (not great video quality) Robert's stand-up act examines the history of the last 100 years or so but putting oil center-stage. Brilliant!

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"Be who you are and say what you feel, because those who mind don't matter and those who matter don't mind." - Dr. Seuss

Anyone watch this? I thought it was great.

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"Be who you are and say what you feel, because those who mind don't matter and those who matter don't mind." - Dr. Seuss

Yesterday I just heard that light sweet crude closed above $80 for the first time. Maybe it's time for some alternatives.

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I have a couple posts on alternatives in the non seti forums. Lemme see...

Zinc-air batteries

Hydrogen

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"Be who you are and say what you feel, because those who mind don't matter and those who matter don't mind." - Dr. Seuss

No one else yet?

Great video.

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"Be who you are and say what you feel, because those who mind don't matter and those who matter don't mind." - Dr. Seuss

Freedom Fuels

http://joox.net/cat/44/id/1212732


http://www.divx.com plugin required


.

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"Be who you are and say what you feel, because those who mind don't matter and those who matter don't mind." - Dr. Seuss

The history of oil was good. Some eye opening points were made. I had no idea that the dollar was the only currency used for oil trading!

Great work peanut,

Your a scholar.

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"Be who you are and say what you feel, because those who mind don't matter and those who matter don't mind." - Dr. Seuss

Another good point made in the monologue was the way our corporations aided Hitler's military build up by funneling in capital. I can see a similar situation developing in China. Our companies are investing in building China's economy. What are the Chinese doing with all that cash? They are building a navy to surpass ours.

Nukes take ships out of the equation. China is not a threat, to us anyhow.

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"Be who you are and say what you feel, because those who mind don't matter and those who matter don't mind." - Dr. Seuss

Nukes take ships out of the equation. China is not a threat, to us anyhow.

Wanta bet...they own a hugh chunk of our treasury bonds, and they are
in the process of launching their first nuclear boomers...go figure.

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Account frozen...

I had no idea that the dollar was the only currency used for oil trading!

Yeah, it's a bit of a shocker, I remember hearing about it early last year as a result of this article. Being a bit of a skeptic by nature and not being an economist at all, I'm not sure I'm completely persuaded, but ...

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I think you'll find it's a bit more complicated than that ...

I had no idea that the dollar was the only currency used for oil trading!

Yeah, it's a bit of a shocker, I remember hearing about it early last year as a result of this article. Being a bit of a skeptic by nature and not being an economist at all, I'm not sure I'm completely persuaded, but ...

I'm sorry but your source in your link is just plain crapola. It's just another whacky conspiracy site for paranoid 'new world order' right wing fanatics.

29 September 2007
Web informationclearinghouse.info


Number Of Iraqis Slaughtered In America's War on Iraq 1,069,836

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That's a death counter at the top of their site. That figure is laughable. You mean to tell us that one in 16 of ALL Iraqis have been killed? That's what? 50 an hour!!!???

That's just absurd.

Furthermore. It doesn't matter what currency oil is traded in. Euro, US dollar, or any other thing matters nought. All currencies are interchangeable. No currencies used for oil trading are currencies backed by oil. Currency markets operate independent of this variable.

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Founder of BOINC team Objectivists. Oh the humanity! Rational people crunching data!
I did NOT authorize this belly writing!

Yes. It's the shocking truth, even if you don't like it or ignore it.
You invade a country, you have to establish security - not only around oil infrastructure. Did you know that criminals threw ill people from their beds in hospitals, just because the US did not care about internal security? Weapons captured from the Iraq army could be stolen without problems because they were not even really guarded and are now used by terrorists and criminals. But let the poor GI's pay the price for the incompetence of their leadership - this terror could have been easily prevented, if the plan would not have been only focused on oil. People cheered the US as liberators, but now they see you as oppressors. How would you feel if someone in your family was killed? How would you feel if foreign soldiers and mercenaries rape and kill and are often not even really punished? How would you feel if americans would be tortured in prisons like Abu Ghreib? Do you even watch the news how much bombs explode every day in Iraq, how many people get shot every day? You don't like that numbers? Ok, so you decide that they are not real, right? Tell that the million dead iraqi...

Yes. It's the shocking truth, even if you don't like it or ignore it.
You invade a country, you have to establish security - not only around oil infrastructure.

The vast majority of what the coalition has secured is NOWHERE near an oil field. Don't be silly. You're always eager to believe anything anti-american aren't you? This site with their EXACT counter down to the '867' number has been laughed at and debunked by numerous media outlets of all political stripes. It's just simply silly. What basis do you have for believing it? What is the basis for them claiming it? (They claim that they get their daily estimate from some sort of 'demographics formula' proposed by The Lancet-reminds me of Lyndon Johnson's make believe bombing body counts in Vietnam) You're saying you believe that for 4 years about 50 Iraqis have been killed each hour EVERY hour.?? Uh huh. Remember earlier this year when some militias were fighting and one side would slaughter 50-60 people? Remember how quickly those stories were spread throughout the media? Now you want us to believe that level of violence is occurring EVERY hour..day and night. LOL.

Did you know that criminals threw ill people from their beds in hospitals, just because the US did not care about internal security? Weapons captured from the Iraq army could be stolen without problems because they were not even really guarded and are now used by terrorists and criminals.

Weapons were scattered throughout the cities, countrysides, and among the populace long before the invasion began.

But let the poor GI's pay the price for the incompetence of their leadership - this terror could have been easily prevented, if the plan would not have been only focused on oil.

Again, very few military personnel are required to guard oil facilities.

People cheered the US as liberators, but now they see you as oppressors. How would you feel if someone in your family was killed?

This statement is just a lie. Plain and simple. Soldiers on the ground overwhelmingly contradict this typical anti-American nonsense.

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Founder of BOINC team Objectivists. Oh the humanity! Rational people crunching data!
I did NOT authorize this belly writing!

We are not talking about now, but what happened short after the invasion. It was a complete screw up and GI's guarded oil installations and left public places like hospitals without guard. If you would take some time to research you'd see it for yourself. There was not real plan to establish security after the invasion, GWB and friends probably either did not care or think people would cheer the US and uphold order without police and army. Wonder how the US would look like without police.

Weapons were collected and then stored without the needed security and got stolen (as well as occupied hospital beds out of hospitals). Incredible such failures stay without consequences and cost countless GI's and Iraqi lives.

Bush and Cheney are War criminals without doubt. The fact that they have passed legislation to in advance pardon themselves is good evidence that they know they are afoul of international law. One murder is enough for the death penalty here in the States. Bush is responsible for thousands if not millions of killings.

What really upsets me as a US citizen is that we are building 14 permenant military bases in Iraq. My tax dollars are going to something I am totally against. I just saw something that said 40% of our tax dollars are going to the Wars we are fighting.

Just think what all the BOINC projects could do with all that money. And it would be for a far better cause.

Bush and Cheney are War criminals without doubt. The fact that they have passed legislation to in advance pardon themselves is good evidence that they know they are afoul of international law. One murder is enough for the death penalty here in the States. Bush is responsible for thousands if not millions of killings.

What really upsets me as a US citizen is that we are building 14 permenant military bases in Iraq. My tax dollars are going to something I am totally against. I just saw something that said 40% of our tax dollars are going to the Wars we are fighting.

Just think what all the BOINC projects could do with all that money. And it would be for a far better cause.

Where'd you see this figure of %40 of our tax dollars are going to 'wars we are fighting' ? LOL.

What 'legistlation' did they pass to allow them to pardon themselves? (Bush can pardon anyone he wants already....I don't follow. Try using mainstream reliable news sources. No conspiracy sites please. I heard somewhere that not everything you read on the internet is true. :-)

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Founder of BOINC team Objectivists. Oh the humanity! Rational people crunching data!
I did NOT authorize this belly writing!

I had no idea that the dollar was the only currency used for oil trading!

Yeah, it's a bit of a shocker, I remember hearing about it early last year as a result of this article. Being a bit of a skeptic by nature and not being an economist at all, I'm not sure I'm completely persuaded, but ...

Another good posting by Bobby. That article was written in 2006 and it pretty much predicts the next country on Bush's hit list. Iran. Seems like any country that wants to trade oil for something other than the dollar is a target.

I had no idea that the dollar was the only currency used for oil trading!

Yeah, it's a bit of a shocker, I remember hearing about it early last year as a result of this article. Being a bit of a skeptic by nature and not being an economist at all, I'm not sure I'm completely persuaded, but ...

I'm sorry but your source in your link is just plain crapola. It's just another whacky conspiracy site for paranoid 'new world order' right wing fanatics.

29 September 2007
Web informationclearinghouse.info


Number Of Iraqis Slaughtered In America's War on Iraq 1,069,836

--------------------------------------------------------------------------------

That's a death counter at the top of their site. That figure is laughable. You mean to tell us that one in 16 of ALL Iraqis have been killed? That's what? 50 an hour!!!???

That's just absurd.

Furthermore. It doesn't matter what currency oil is traded in. Euro, US dollar, or any other thing matters nought. All currencies are interchangeable. No currencies used for oil trading are currencies backed by oil. Currency markets operate independent of this variable.

R/B, hate to say it but you're using a little bit of misdirection, by talking about the site and it's (possibly) dubious counter, you're avoiding discussion of the article I referenced, which ends:

About the Author: Krassimir Petrov (Krassimir_Petrov@hotmail.com) has received his Ph. D. in economics from the Ohio State University and currently teaches Macroeconomics, International Finance, and Econometrics at the American University in Bulgaria. He is looking for a career in Dubai or the U. A. E.

I did say when I posted the link that I'm not an economist, so you may take it as read that I'm not best placed to provide a critique. I posted the link merely to suggest that Newman's inclusion of the issue in the video posted by MrGray does have some validity, at least sufficient to warrant a better understanding of said issue.

There is something peculiar about the situation, that oil is the only currency used to trade oil ensures that those who wish to make a trade must first purchase dollars, thus an artificial market in dollars exists (said traders may have chosen another currency if they were free to do so). The artificial market appears to have been created by OPEC, which itself operates as a cartel, such an organization is normally frowned upon by proponents of free-markets, indeed collusion over prices by different sellers of the same product (i.e. a cartel) is illegal in many nations (the U.S. included) as an anti-competitive practice.

Whether Newman and the author of the article are correct in their analysis that the value of the dollar may fall should a different currency be chosen for the oil trade, is at least of passing interest and I'd say perhaps not something to be so lightly dismissed. If you have evidence for your view (“It doesn't matter what currency oil is traded in”) please provide it.

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I think you'll find it's a bit more complicated than that ...