Oil Production: No End in Sight and Why Gas Prices Are High and Going Higher

why gas prices are high and going higher

Look at the graph above. Why are gas prices going up and up when production is going up and up? Why are gas prices going up and up compared to a few years ago when production was going down and down? The answer is simple. Gas prices do not respond to supply and demand. They respond to market control. And the market is 100 percent controlled by the oil companies, which are able to do so because governments are owned by Wall Street and Big Oil and a few other economic sectors.

So what happened to peak oil back in 2001 since production is going up and up? The answer once again is simple.

Peak oil is a myth created by the oil corporations to justify jacking up their prices beyond what supply and demand would dictate. How do we know that we’re past peak oil? We don’t know. We only have the word of the oil companies on that, and they would always lie to us in a heartbeat, as they always have.

There is an alternate reality that is probably much closer to the truth. Peak Oil is a thousand years into the future. Oil is plentiful and easy to drill for. But if people knew the truth, gasoline prices would likely be closer to around .50 cents a gallon.

This suggests that current gasoline prices are a scam to redistribute income from the 99 percent to the 1 percent via higher corporate earnings, rising share prices and larger dividends than would otherwise be the case.

Click the link below for a look at gasoline prices around the world, and remember this, the United States is a net exporter of oil starting in 2011, and that was for the first time in over sixty years. Production is up  since the article below came out.

Gasoline Prices Around the World–The Atlantic Magazine

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Obama under fire for high gasoline prices and then he does something incredible!

It’s an election year and that’s why President “Wall Street” Obama “urged Congress to toughen penalties for improper manipulation of oil markets and called for stricter government oversight of energy markets.” Apparently, the president thinks there is a proper way to manipulate the market. Nobody should take the president seriously.

The price of gasoline in the United States is probably two to three dollars per gallon higher than if there was some kind of real, competitive, market. Gasoline may be even three dollars or more per gallon higher than it should be. The United States has been exporting more oil than it is importing for several months now, for the first time since the late 1940s. That suggests the market has been manipulated for a long time, that US production has been artificially curtailed and manipulated for decades, and that there is an overabundance of oil available, but the president hasn’t done anything as the price of gasoline has risen, fueled by the demands of the financial markets. The big boys are making us pay so they can keep their stock values high. It’s been a scam for a long time and the president hasn’t instructed his Department of Justice to use the Sherman Anti-Trust Act to break up the oil oligarchs and send some of these big and slick oil barons and their Wall Street cronies to prison for their crimes.

Related Story

The Myth of Peak Oil

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The Lie About Peak Oil

Did you ever notice that every time there is a short-term shortage of oil or the price begins to rise, there is talk of running out of affordable oil, an idea captured by the concept of Peak Oil. You remember that slick slimy scam artist who talked of it a decade ago; Dick Cheney, our then unelected but acting president. As soon as he said it, the price of gas zoomed from $1.25 a gallon to $4. People actually believed the liar as income was redistributed from our pockets into the pockets of rich oil company executives and their shareholders. In other words, after Cheney’s propaganda campaign took root, an income redistribution scam took place. The rich were sucking us dry even while there was plenty of oil for which we should have been paying half a dollar at the pump or less, if market mechanisms were allowed to function. Nowadays, the process is happening, but the problem isn’t Peak Oil. No, sir. The problem is too much oil and too few producers that act together to squeeze the middle class and redistribute income from the 99 percent to the one percent. Of course, we have a government of slimy plutocrats, like Senator Ron Wyden of Oregon, working to ensure this income redistribution scam works.

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