OIL/GAS looms to hit $ 5.00 gallon
Whatever you do, don't make the mistake of thinking gas won't hit $5 a gallon...
It's already a fact of life in London, Paris, and Stockholm — and has been for years.
When $5 gas hits our shores, it can either be the best news you've heard in a decade — or the worst. And it's likely to happen sooner than you think...
The CEO of Total SA, one of the world's largest oil companies, recently confessed that the world can't increase oil output beyond current levels.
The Wall Street Journal reports that output from the world's existing oilfields is dropping about 4.5% per year and by up to 18% per year at some of the biggest oil fields in the North Sea, Alaska, and the Gulf of Mexico.
The New York Times reports that many of the world's top oil exporters may have to begin importing oil within a decade to keep up with rising energy demands inside their borders.
Of course, some people – like the OPEC ministers – claim that oil isn't running out. But can we really trust those jokers?
They've got a stranglehold on nearly half the world's oil supply, and are concerned only with maximizing profits and adding to their already obscene wealth.
Just last year they quietly raked in a cool $675 billion - up 10% from the previous year — while we sat back and watched soaring gas prices gobble up our hard-earned cash.
No wonder The Economist says, "OPEC is more likely to worsen a global slowdown by keeping prices high than it is to ease one by allowing them to fall."
And don't forget, a handful of OPEC member nations – including Iran and Venezuela – are openly hostile towards the United States, its economy, and its government.
In fact, as I write you, Venezuela's little big man, Hugo Chavez, is threatening to cut off oil shipments to the U.S. altogether. This from our fourth-largest supplier of oil!
cha-ching
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