Posted by
theoilpatchplug on Saturday, October 25, 2008 12:59:16 PM
A few days ago I received an email from a long time friend with a link to a Youtube video by Lindsey Williams. I watched his 8 part video from November 2007. He explained that Peak Oil is a hoax and Alaska has a 200 year supply of oil and gas for the US that’s being kept under wraps.
Then he said we would soon have $5 gasoline. Ok he’s lucky I thought.
Then Mr. Williams stated the Mortgage Crisis and the high price of oil would destroy the economy.
So, I looked at some more recent video post. These posts are from radio shows that I don’t listen to but heck, I believe he’s right on about peak oil and gas did go to $5 and the economy has taken a hard hit. I am no Ron Paul fan.
In late July while Oil prices were at their peak he said Oil will soon go to $50 a barrel ($2 gas)and that there are 2 huge oil fields that are coming on line that have more oil than the Middle East. One field is in Indonesia and the other is north of Russia, he continued.
If this happens the way Lindsey Williams suggest our domestic oil & gas exploration business will be destroyed in a few months, the countries of the Middle East will not be able to buy our Treasury Debt, the dollar’s value will be near worthless and our nation will not be able to service its debts. He said it will take us years to recover from this capitulation.
I pray he’s wrong. The scary thing is he’s been right too much for my comfort level. Oil prices are currently at $64 a barrel; weeks ago it was $140.
Glenn Beck calls this a perfect storm, Williams calls it an agenda. I hope it’s just Halloween.