Quote:
Originally Posted by strayslack
What hasn't occurred, at least overtly, is the discovery of vast oilfields in Indonesia and northern Russia, yes?
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Hi Strayslack,
Actually I remembered a report of a massive oil field discovered in Russia in July.
http://mjperry.blogspot.com/2008/07/...illing-to.html
http://www.lundin-petroleum.com/Pres...3-07-08_e.html
There are also major discoveries in the Indonesia area but are being blocked by China influence.
I have followed Williams for over 2 years and have been very unsettled by his accuracy.
If I remember correctly the reason the discoveries are a monumental problem for us (USA) is Russia and/or China will flood the market with really cheap oil which will undermine our relationship with OPEC and more importantly Saudi Arabia. They will call in the debt we owe to them and of course we have no funds left. Also Iran is somehow involved in this fiasco.
Since Russia started drilling this major find in September could this drop in oil we are seeing be the result and just another “twist of the knife” of an already mortally wounded world economy?