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The Gasoline Export Scam

Subsidized Exports Sustain High Gas Prices

Surprise!  Gasoline Prices in the US are Rigged

 

By Gordon Duff, Senior Editor

 

You don’t have to be a genius to know that gasoline costs around $3.50 per gallon in the US. 

What most Americans don’t know is that the only thing keeping the price above $2.00 is the fact that our oil companies are exporting our gasoline at bargain basement prices to their own foreign subsidiaries subsidized by high American prices.

You see, gasoline usage, around the world, has fallen dramatically.

Gas is a liquid.  Imagine a glass of water.  You fill it to the top, you add more, it overflows.

Same with gasoline.  Tank farms fill up, the rusty pickup truck in the driveway has gas in it, the BP station is full to capacity, everything that can hold gasoline except for your bath tub is filled to capacity.  Normally, this would crash prices.

Instead, America exports gas, dirt cheap and in huge volume, 480,000 barrels per day.  But this is an export you say, a good thing.  Is it now?

Hmmm.

Let’s look at some facts:

  • American refineries are the most expensive in the world with the highest wages
  • The gasoline exported was made from crude oil shipped halfway around the world
  • To gain market share, America would have to compete with refineries closer to oil supplies, refineries with cheap labor, most of which are owned by governments or government controlled corporations

This means America’s exports are subsidized.  By “subsidized,” we mean “fixed” or “rigged.”  I think it is safe to say we have known this for a very long time, I don’t expect anyone to have a heart attack reading this.

Ah, but there is more.  A while ago, oil hit $70 bucks a barrel.   Even that was high, high enough for gas to go to $1.79 a gallon though the price never moved an inch, not up to $1.79 or would that be “down?”

Below is a graph showing imported oil hitting $37.00 per barrel after the economic crash.  Today oil is over $100.00 per barrel and the economic crisis has spread to Europe and actually gotten much worse.

A Moment in Oil Market Reality

 

Today, the AP explained to us why oil is only down to $100 per barrel, brought about by the crisis, now decades old, tied to Irans claimed nuclear threat, something nobody has ever seemed to present anything resembling even hard evidence about.  Please read this excerpt from AP.  It is actually quite amusing, to me anyway:

Oil prices fall as concerns about Iran retreat

By CHRIS KAHN, AP Energy Writer

How Could Governments and Media Hush up Oil Marker Rigging

NEW YORK (AP) — Oil prices started the week lower after analysts said that nations should have ample supplies regardless of Iran’s threats to block exports from the Persian Gulf.

Benchmark crude on Monday fell by 84 cents to $100.72 per barrel in New York. Brent crude, which is used to price foreign oil varieties that are imported by U.S. refineries, fell 80 cents $112.26 per barrel in London.

Prices climbed last week on fears that Iran could try to close the strategic Strait of Hormuz in response to international sanctions.

One-sixth of the world’s seaborne oil passes through the narrow strait, and traders feared that a conflict in the region would slow down crude shipments out of the Persian Gulf.

Morgan Stanley analysts pointed out over the weekend that producers can always bypass the strait by transporting oil through pipelines in Saudi Arabia and the United Arab Emirates. Libya also has been ramping up oil fields that were idled during last year’s rebellion, and its exports will help replenish stockpiles.

Also, Morgan Stanley analyst Hussein Allidina said, Europe’s soft economy will further depress the world’s energy appetite this year.

“If tension in the Mideast recedes, the premium that has been built into crude prices is likely to fade, sending crude prices lower,” Allidina said in a research note.

Europe’s flagging economy remains a major source of concern for oil traders. Less government spending is expected to constrict economic growth and possibly send the eurozone into recession this year. German Chancellor Angela Merkel and French President Nicolas Sarkozy met Monday to work on ways to boost the continent’s flagging economy.

Why Are Oil Prices Sky High?

Please excuse my repetition.  Oil crashed into the $30′s when the US economy was being bailed out by President’s Bush and Obama.

There has been no job recovery yet and we have kept running record deficits ever since.  In fact, though employment figures are slightly less horrific, nothing has changed at all or has it?

Now it seems, out of nowhere, Europe is trillions in debt, the EU is coming apart, the Pound is unstable, the Euro hopeless, all facts unknown to analysts in the oil trade who set prices at $37 dollars.

Europe was just fine then and America was as it is now, pretty much.

Get the picture?

 

Oil should be at $20 dollars, gasoline here should be at $1.35, the US would have no trade deficit because of this, our economic recovery would be spectacular, everyone would go out and buy a new SUV, employment would be up, spendable income would increase dramatically or are there signs that this is simply “not allowed.”

Can the manipulation of oil prices be seen as a sign of the collective economies of the US and EU as being systematically pushed into debt for the profit of banks, with oil companies fully participating and no government saying a word.

Worse yet, governments, so many of them, seem to be enjoying destroying themselves as though it were some kind of sick game.

Let’s add two more factors to this:

  • New oil discoveries have placed “inventories” worldwide at 40% above last year’s estimates.  Oil is being found everywhere, West Africa, the Eastern Mediterranean, in fact oil companies are now actually afraid to look.  It seems the planet is floating on oil
  • World natural gas supplies are the same, supplies are infinite, cheap to deliver and wholesale prices are collapsing.
  • Energy technology, including “cold fusion,” long presented and “junk science” are turning out to be “suppressed science” instead.  Surprise, Surprise.

What should we be asking?

 

Why No Public Screaming Over Oil Price Rigging?

The big question, why has nobody said anything about this?  Why isn’t President Obama screaming from the rooftops or Ron Paul standing on a milk crate on some lonely corner in New Hampshire?

For the average family, the savings are enough to pay rent or a house payment, fuel costs are that much.  If we add a 75% reduction to heating bills, which is where the natural gas market really is, what would that do?

Oh, did I forget?  Last year we had the highest increase in food prices in history.

Food prices are driven, primarily, by the price of diesel, which should almost be free except for market manipulation.  Currently, the Bush family has taken a position in “corn” which means “ethanol.”

Imports of corn for ethanol will crash the market, this is already in motion and has been for months.

Food should nearly be free, not going up 2% per month.

This is all being rigged too.

We don’t need ethanol for gasoline, in fact we probably won’t need gasoline in 3 years, not if we use new technologies.  I saw my first 100 mpg gasoline engine, powerful and conventional two years ago. 

It puts out more horsepower than most hybrids and has no batteries, motors or other such wasteful expense.  It was so “green” that you could pump its exhaust into an incubator.

We have a hundred suppressed technologies, have done everything possible to kill mass transit in the US and have worked, day and night, to make it impossible for Americans to survive.

New Maglev Train - Have You Heard of It?

The cash for a nationwide mag-lev train system sits in the Federal Reserve Bank of Richmond, one trillion dollars of private funds, held up for years.

This is 400,000 jobs.

The project, and I have seen the court filings, the bank transfers, the pay orders, has been held up for years now, a project that would end much of America’s unemployment and make national travel at over 300 mph dirt cheap and totally clean.

The game?

We are going to send “the fleet” to threaten Iran, pretend that oil should be $100 per gallon when we don’t need it at all, keep putting the $3.49 per gallon signs at the gas stations and keep selling hamburger for $2.89 per pound instead of $1.39.

Electric bills will stay triple what they should, natural gas even more.

Cell phones, internet and television will always cost equal to half your rent with every source priced within pennies of the other although all use government paid for resources resold to the public.

Some call it slavery. Eventually, some may call it a time for war.

Editing:  Jim W. Dean

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Posted by on Jan 9 2012, With 0 Reads, Filed under Editor, Politics. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

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7 Comments for “The Gasoline Export Scam”

  1. Most greedy rich corporations and individuals want to undermine democratic government (removing one person one vote/declaring corporations are people), impoverish the majority of people (reducing real jobs/increasing debt) and destroy the natural environment (pollution/wars) all in pursuit of lining their pockets with more money, wealth and resources.

  2. This is even more proof that OIL is not the reason why our young men are fighting so many wars in Arab lands. Oil and profit is often quoted by otherwise cynical people to explain the reason why our military attention has to be fixed on the Middle East. (If it was the prices would be tumbling!) This rigging of oil prices is all brought about by politicians acting against national interests and FOR certain foreign interests – in order to keep our military on the other side of the world. I am a Brit – but the same rules apply. Alaska is awash with high grade, easily extracted crude oil – and there is enough to supply North America for at least for the next two centuries. The so called ‘world bank’ will also use the massive tax revenues associated with this to fund their planned World Government. Pastor Johnson was on to this many years ago.

  3. Fake Economy, Fake Oil Industry, Fake Government, shall I go on?…

    It’s all an illusion to make you think you have a choice, you have no choice you have owners.

    George Carlin:
    “You have no choice, you have OWNERS. They own you. They own everything. They own all the important land, they own and control the corporations. They’ve long since bought and paid for the Senate, the Congress, the State Houses, the City Halls. They got the Judges in their back pockets and they own all the big Media companies, so they control just about all of the news and information you get to hear. They got you by the balls. They spend BILLIONS of dollars every year lobbying, lobbying to get what they want. Well we know what they want.

    They want MORE for themselves and LESS for everybody else.

    But I’ll tell you what they don’t want. They don’t want a population of citizens capable of critical thinking. They don’t want well informed, well educated people capable of critical thinking. They’re not interested in that. That doesn’t help them. That’s against their interests, that’s right.”

  4. Jim, now why would governments take actions that would seem to bring about their own collapse? I have a theory. Another one of their shell games is hiding government assets and profits. Each annual budget neglects to include these so we’re always only talking about deficits. In fact, if you look up the Comprehensive Annual Financial Reports for every city, county, state and federal governments, you have no choice but to realize that, collectively, people-owned government holds dozens of TRILLIONS in assets, corporate shares, etc. We have so much money that taxes are unnecessary and talk of deficits, loans from China, billions in interest payments alone and all other references to how broke we are are seen for the adsurdity they are! It’s all a lie.
    So, back to the theory of why self-inflicted destruction.
    If governments collapse, corporations will get to KEEP all our money–since practically nobody knows it exists anyway.
    As for what time it is, yeah, don’t be afraid to say it’s time for war. It is. They’re stealing every last penny we own. They’re keeping advanced technologies from us that could save the planet’s ability to sustain our lives and give us more free time and money. They’re spraying our skies with toxic chemicals, poisoning our air. They’re poisoning our water with flouride and other heavy metals. They’re poisoning our food with GMO’s and toxic chemicals. They have declared WAR on us and I say it’s about time we returned the favor!!
    Sooner or later we gotta press the ‘go’ button.

    Matt

    Lexington, ky

    • sorry, meant to address that to Gordon, not Jim. Guess seeing Jim’s name at the last line distracted me.

      • That’s OK, MP…it distracts me, too !!! :-)

        Since Lee Wanta wrecked the Soviet economy by destroying the ruble, with only $250 billion of trading capital, and basically a one man operation…it opened Pandora’s box on the sums that could be make with international market manipulation. And of course such things became a strategic weapon.

        The government is not legally allowed to do such things, hence Wanta was set up as a private deal, and even paid back the $250 billion after a year or so. What makes it a zoo now as there are huge amounts of trading money in the hands of a few, and things like derivatives allowed them to literally create trading money out of thin air.

        But all of this said, MSM has done just a horrible job on reporting any of it, including the financial news, who are beholden to the financial structure for their ad income, so are hardly going to bite the hand that feeds them, a bit like the ‘rating agency’ problem that blew up in our faces.

  5. Well, we all know that oil is the big money magnet. We have all heard over the years about millionaires many times over who are into oil. I can recall decades ago the kind of superior snivelling in the media about “backward” middle east countries awash in oil profit.
    Lately, we certainly have been conditioned to believe that fossil fuels are on the brink of disappearing. Books ranting about peak oil have turned their authors into celebrities, and conditioned people to accept crushingly high energy prices.
    If we did have a free market economy, these towering prices would drive research and investment into cheaper energy sources. Instead we are told that the only alternatives are those controlled by the same group of terrorists who control oil. Indeed.
    We are told that mass transit can’t work, yet before the onset of the oil economy, our cities were bustling with mass transit.
    Now we find that those oil barons, and their apologists, are as usual, creating another false picture for mass consumption. It is impossible for supply to be off the scale, demand to be lower than any stress level on the supply, and prices to continue to be sky high without significant manipulation. It is not just politically that we have been the victims of a coup, it is very much economically as well.
    The question that continues to be asked is-who is really pulling these strings?

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