With the recent news about Cap and Trade bills, energy problems, and global warming I have not heard any mention of what is happening with the world in relation to peak oil and what the changes in energy consumption are related to peak oil. First most people have never heard of the term peak oil or even know what it means; I will try to clarify what the meaning is of this term and how it relates to the world as we know it.
Peak Oil is the term given to the global oil production and the top it will reach of oil production (plateau) then start to decline to the downward production on the other side of the peak, it does not mean we are running out of oil only it means that the end of cheap oil production is getting nearer. Other forms of oil production such as oil sands (also known as tar sands), oil shale and offshore drilling are more expensive and each has environmental concerns to take into account.
Even Representative Roscoe Bartlett has stated that deep water drilling is expensive and oil would have to be $211 a barrel to be profitable. From January 17-18, 2007 Congressional Record Report Quote :
By the way, the world's experts on oil believe that we have, most of them, we have probably found about 95 percent of all the oil that we will ever find. You notice that when we find oil now, we find it in very difficult places to get to. The last big find was in the Gulf of Mexico, through 7,000 feet of water, and then about 30,000 feet of rock and dirt until you get down to the oil. We aren't now developing that field, and I am told, you can be told a lot of things that aren't true and I don't know the veracity of this, but I am told we will be developing that field when oil reaches $211 a barrel, because that is what it will cost to get the oil out of that field..
With prices of barrels of oil on the rise the severe economic and social problems that will be faced in the future really needs to be addressed by the general public and not only by politicians. Yes I know the price of oil has went down from what it was last year, my opinion on that is if you drastically raise the price of oil people will consume less and like in the 70’s or 80’s this has been shown as a good way to lessen the consumption of oil and if you change the amount of consumption you extend this date when oil will peak.
When will this peak happen there have been many different dates given for the global oil production peak? In 1956 a geologist named Marion King Hubbert had predicted the peak for the United States lower 48 states to be 1970 and many geologist, physicists, bankers, investors, and members of congress believe he was right about the peak in 1970 and we will have a global peak in the future. They all disagree on when this day will come even some like Hubbert predicted that we have already hit that peak, but many factors affect peak oil like consumption, technology and even politics.
You may ask do politicians have plans or are making plans surrounding this issue and yes congress, states, cities and towns are doing just that. There is a very long list of sites so I will not list them all, but here is the peak oil link where they can be found. You should also check with your state and local representatives to see if they have addressed the peak oil situation. You may also check to see if they have an extensive bike route plan or increased mass transit extension (Atlanta to Macon) in the works as I have found in my area (the bike plan also ties in with other counties).
House of Representatives December 2005
House of Representatives March 2006
House of Representatives May 2006
House of Representatives January 2007
House of Representatives March 2007
House of Representatives June 2007
State of Connecticut November 2007
City of Lawrence Kansas September 2008
City of Bloomington Indiana December 2007
City of Portland Oregon January 2007
City of Fort Collins Colorado 2009
Town of Chapel Hill North Carolina October 2008
Town of Westerly Rhode Island August 2008
Is peak oil going to end the world, in a word “NO” but it will change the world as we know it unless more steps are taken to develop cheaper alternative sources of energy. Why did we not develop more cheap efficient sources sooner, the word greed comes to mind all other sources have been underfunded by the government and corporations for years. The powers that be have begun to wake up to the fact that they have failed humanity for their own greed and who are they asking to make up for all the years of doing this why me, you and all taxpayers with the cap and trade bills to pass an unfair tax to consumers thru energy purchases or emissions taxes. Even President Obama agrees this cost will be passed along to consumers for the changes in our economy for the sake of global (peak oil) warming. On global warming I disagree with many people on this issue because I have heard more about this and nothing in the news about peak oil. Now do not misunderstand I believe we all should protect the planet for our children and grandchildren in the future. The global warming and peak oil references are to just too close to be ignored, quoted from President Obama the proposal would save 1.8 million barrels of oil over the lifetime of the vehicles sold in the next 5 years. All the programs being put in place or on the drawing board will not only reduce global warming, but will also extend the peak oil date.
The US has also commissioned several reports about peak oil US Department of Energy Hirsh Report and United States Government Accountability Office 07-283, now if this did not exist why would we have all this information and meetings taking place about a theory. Before you raise the question, yes they have done reports on global warming and have well published the results of those reports in news media and other sources. I doubt any person in the United States could go thru an entire day without hearing or reading something to do with global warming. The same cannot be said for peak oil “WHY” if this is not an important subject why spend money on reports and waste time meeting about a theory.
In closing friends the public needs to learn more about peak oil and the implications of what is happening in the economy due to this occurring. We all will pay for the greed that has allowed money to be placed at a higher value than human life; the pain and suffering that has been felt in the past and will be felt in the future for the sake of greed needs to be stopped.
Thank You,
Average Citizen
Thursday, May 28, 2009
Millions Being Stolen By Banks Legally
This in my opinion this is the greatest crime in history, the person or persons that planned and orchestrated this should be jailed even though this was done legally. Hopefully all people will realize that the government is no longer on our side and needs to be stopped in giving away taxpayers money.
The following information is public information on many government websites also have included many news articles and they can be accessed by everyone, in the following document I will try to explain how they have done this. Bill S2856 (section 1) was passed to begin paying interest from the Federal Reserve on reserves (bank balances held in the Federal Reserve) this also includes foreign banks, the original effective date was to start on October 1, 2011. The date of bill S2856 was changed in bill HR1424 (section 2) to take effect on October 1, 2008 along with the Economic Emergency Stabilization Act of 2008 allowing the treasury to spend 700 billion dollars to purchase distressed assets and make capitol injections into banks. In the following months there have been several reports of banks hoarding cash (section 5) why I wonder? Deposits at the Federal Reserve have never been higher (section 7 and 8) even Wikipedia has this information (section 10), but mostly this has been ignored by the main stream media. The current deposits total $955,220,000,000 as of May 20, 2009 (section 8) I am not an accountant and could not imagine the amount of money that is being paid out on this astronomical figure, but the Congressional Budget Office has projected estimates (section 9) keep in mind this estimate is based on the start date of October 1, 2011 on normal deposits of 10 to 20 billion dollars and not October 1, 2008 on figures of 900 billion dollars. Where did the banks in the United States get this large amount of money (bailout funds), why from me, you, your children, your grandchildren and generations to come? Is this the perfect crime only time and the judgment of the population will decide, I only hope many will open their eyes to what is going on around them. I have included relevant articles from news sources and government websites that I have not specified in this article they are for more information on this crime.
Many will think this is an attempt to discredit the government or one of the political parties involved and may even think this was written by some nutcase, but sorry I do not try to do any of these only to inform people of the truth with verifiable information. Take the time check the facts from this document, see for yourself that all I have said is true and has been done legally in front of everyone while we were not paying attention. I have learned a lesson while researching this information to pay attention with what is going on around me and to not only be concerned with my own life.
This is the Federal Legislation website if anyone needs to verify the bills below, click on advanced search to access previous year’s legislation pick year of congress and enter bill or keyword.
http://www.govtrack.us/congress/legislation.xpd
1) Bill S2856 for Federal Reserve to (Section 201) start paying interest on bank reserve and excess reserve deposits (Section 203) starting in October 1, 2011. This bill became law on October 13, 2006
http://frwebgate.access.gpo.gov/cgi-bin/getdoc.cgi?dbname=109_cong_bills&docid=f:s2856enr.txt.pdf
2)Bill HR 1424 Economic Emergency Stabilization Act of 2008 (Section 128) date change for Bill S2856 to October 1, 2008, this was tucked neatly into a bill that no one was allowed to read and threatened with marshal law to hurry up and pass.
http://frwebgate.access.gpo.gov/cgi-bin/getdoc.cgi?dbname=110_cong_bills&docid=f:h1424enr.txt.pdf
3) Fed asks for authority article.
http://blogs.wsj.com/economics/2008/05/07/fed-to-seek-authority-to-pay-interest-on-reserves/
4) Fed Paying Interest on Reserves: an Old Idea with a New Urgency
http://blogs.wsj.com/economics/2008/04/29/fed-paying-interest-on-reserves-an-old-idea-with-a-new-urgency/
5) Banks hoarding cash why, maybe large interest payments?
http://businessfinancemag.com/blogpost/what-wrong-tarp-1210
http://www.forbes.com/2009/02/12/ecb-banks-borrowing-markets-econ-0212_libor_12.html
http://www.philly.com/philly/business/Andrews_Banks_hoarding_cash.html
6) From the Federal Reserves own website, why so many changes in the formulas and rates?
http://www.federalreserve.gov/monetarypolicy/reqresbalances.htm
http://www.federalreserve.gov/newsevents/press/monetary/20081006a.htm
http://www.federalreserve.gov/newsevents/press/monetary/20081022a.htm
http://www.federalreserve.gov/newsevents/press/monetary/20081105a.htm
http://www.federalreserve.gov/newsevents/press/monetary/20081216d.htm
7) Federal Reserve Deposits
http://www.forbes.com/2009/02/03/banking-federal-reserve-business-wall-street-0203_loans.html
http://www.rgemonitor.com/financemarkets-monitor/254725/why_exactly_does_the_fed_pay_interest_on_reserves
8) From the Federal Reserves own reports, find the following in the report (remember this figure is in millions of dollars). Also under Release Dates at the top of page on any of these reports you can find past reports.
Current report (this link will change when archived). Depository institutions 955,220
As of May 20, 2009
http://federalreserve.gov/releases/h41/Current/
http://federalreserve.gov/releases/h41/20090507/
9. Consolidated Statement of Condition of All Federal Reserve Banks (continued)Millions of dollars Depository institutions 825,623 Wednesday May 6, 2009
http://federalreserve.gov/releases/h41/20090108/
9. Statement of Condition of Each Federal Reserve Bank, January 7, 2009 (continued)Millions of dollars Depository institutions 846,140 Total
http://federalreserve.gov/releases/h41/20081002/
4. Consolidated Statement of Condition of All Federal Reserve BanksMillions of dollars Depository institutions 179,291 Wednesday Oct 1, 2008
http://federalreserve.gov/releases/h41/20080807/
5. Statement of Condition of Each Federal Reserve Bank, August 6, 2008 (continued)Millions of dollars Depository institutions 10,862 Total
9) Congressional budget office estimates costs in millions to taxpayers, but date change starts in 2008 not 2011 and the estimates are based on normal deposits.
http://www.cbo.gov/doc.cfm?index=7692&type=0
10) http://en.wikipedia.org/wiki/Emergency_Economic_Stabilization_Act_of_2008
Taken from Wikipedia website.
The Fed announced that it would begin paying such increased interest on both reserve and excess reserve balances on October 6, 2008.[153] Banks immediately increased the amount of their money on deposit with the Fed, up from about $10 billion total at the end of August, 2008, to $880 billion by the end of the second week of January, 2009.[154][155] In comparison, the increase in reserve balances reached only $65 billion after September 11, 2001 before falling back to normal levels within a month.
How much interest is paid on $800,000,000,000??????????
Have found more important information on this and it looks like Senator Chris Dodd knew this would increase the federal deficit, as stated in a letter dated October 1, 2008 from the Congressional Budget Office Director Peter R. Orszag to The Honorable Christopher J. Dodd Chairman Committee on Banking, Housing, and Urban Affairs United States Senate.
http://www.cbo.gov/ftpdocs/98xx/doc9852/hr1424Dodd.htm
Quote from the letter:
Other provisions in Division A would on net increase the budget deficit. For example, the legislation would allow the Federal Reserve to pay interest immediately on certain reserve balances of depository institutions, rather than starting on October 1, 2011, as allowed under current law. CBO estimates that, over the next three years, the provision would reduce the Federal Reserve’s payments of its profits to the Treasury, which are classified as revenue in the federal budget.
Another reason Bill S 2856 from 109th Congress in 2006 needs to be repealed, this is just another way they are allowing corporate America to commit crimes legally. Sadly not a single member of Congress voted against this Bill, the Senate passed it unanimously and the House passed it with 417 yea votes with 15 not voting.
From the Bill:SEC. 720.
ELIMINATION OF CRIMINAL INDICTMENTS AGAINSTRECEIVERSHIPS.(a) INSURED DEPOSITORY INSTITUTIONS.—Section 15(b) of theFederal Deposit Insurance Act (12 U.S.C. 1825(b)) is amended byinserting immediately after paragraph (3) the following:‘‘(4) EXEMPTION FROM CRIMINAL PROSECUTION.—The Corporationshall be exempt from all prosecution by the UnitedStates or any State, county, municipality, or local authorityfor any criminal offense arising under Federal, State, county,municipal, or local law, which was allegedly committed bythe institution, or persons acting on behalf of the institution,prior to the appointment of the Corporation as receiver.’’.(b) INSURED CREDIT UNIONS.—Section 207(b)(2) of the FederalCredit Union Act (12 U.S.C. 1787(b)(2)) is amended by addingat the end the following:‘‘(K) EXEMPTION FROM CRIMINAL PROSECUTION.—TheAdministration shall be exempt from all prosecution bythe United States or any State, county, municipality, orlocal authority for any criminal offense arising under Federal,State, county, municipal, or local law, which wasallegedly committed by a credit union, or persons actingon behalf of a credit union, prior to the appointment ofthe Administration as liquidating agent.’’.
In closing just to let everyone know I am not a reporter and did not write this for financial gain only to inform, the reason I wrote this is last year an internal alarm went off when I heard about the bailout and I knew something was not right about what was happening. I like to think of it as starting a journey to the truth and I hope this is found out by all.
Sincerely,
Average Citizen
The following information is public information on many government websites also have included many news articles and they can be accessed by everyone, in the following document I will try to explain how they have done this. Bill S2856 (section 1) was passed to begin paying interest from the Federal Reserve on reserves (bank balances held in the Federal Reserve) this also includes foreign banks, the original effective date was to start on October 1, 2011. The date of bill S2856 was changed in bill HR1424 (section 2) to take effect on October 1, 2008 along with the Economic Emergency Stabilization Act of 2008 allowing the treasury to spend 700 billion dollars to purchase distressed assets and make capitol injections into banks. In the following months there have been several reports of banks hoarding cash (section 5) why I wonder? Deposits at the Federal Reserve have never been higher (section 7 and 8) even Wikipedia has this information (section 10), but mostly this has been ignored by the main stream media. The current deposits total $955,220,000,000 as of May 20, 2009 (section 8) I am not an accountant and could not imagine the amount of money that is being paid out on this astronomical figure, but the Congressional Budget Office has projected estimates (section 9) keep in mind this estimate is based on the start date of October 1, 2011 on normal deposits of 10 to 20 billion dollars and not October 1, 2008 on figures of 900 billion dollars. Where did the banks in the United States get this large amount of money (bailout funds), why from me, you, your children, your grandchildren and generations to come? Is this the perfect crime only time and the judgment of the population will decide, I only hope many will open their eyes to what is going on around them. I have included relevant articles from news sources and government websites that I have not specified in this article they are for more information on this crime.
Many will think this is an attempt to discredit the government or one of the political parties involved and may even think this was written by some nutcase, but sorry I do not try to do any of these only to inform people of the truth with verifiable information. Take the time check the facts from this document, see for yourself that all I have said is true and has been done legally in front of everyone while we were not paying attention. I have learned a lesson while researching this information to pay attention with what is going on around me and to not only be concerned with my own life.
This is the Federal Legislation website if anyone needs to verify the bills below, click on advanced search to access previous year’s legislation pick year of congress and enter bill or keyword.
http://www.govtrack.us/congress/legislation.xpd
1) Bill S2856 for Federal Reserve to (Section 201) start paying interest on bank reserve and excess reserve deposits (Section 203) starting in October 1, 2011. This bill became law on October 13, 2006
http://frwebgate.access.gpo.gov/cgi-bin/getdoc.cgi?dbname=109_cong_bills&docid=f:s2856enr.txt.pdf
2)Bill HR 1424 Economic Emergency Stabilization Act of 2008 (Section 128) date change for Bill S2856 to October 1, 2008, this was tucked neatly into a bill that no one was allowed to read and threatened with marshal law to hurry up and pass.
http://frwebgate.access.gpo.gov/cgi-bin/getdoc.cgi?dbname=110_cong_bills&docid=f:h1424enr.txt.pdf
3) Fed asks for authority article.
http://blogs.wsj.com/economics/2008/05/07/fed-to-seek-authority-to-pay-interest-on-reserves/
4) Fed Paying Interest on Reserves: an Old Idea with a New Urgency
http://blogs.wsj.com/economics/2008/04/29/fed-paying-interest-on-reserves-an-old-idea-with-a-new-urgency/
5) Banks hoarding cash why, maybe large interest payments?
http://businessfinancemag.com/blogpost/what-wrong-tarp-1210
http://www.forbes.com/2009/02/12/ecb-banks-borrowing-markets-econ-0212_libor_12.html
http://www.philly.com/philly/business/Andrews_Banks_hoarding_cash.html
6) From the Federal Reserves own website, why so many changes in the formulas and rates?
http://www.federalreserve.gov/monetarypolicy/reqresbalances.htm
http://www.federalreserve.gov/newsevents/press/monetary/20081006a.htm
http://www.federalreserve.gov/newsevents/press/monetary/20081022a.htm
http://www.federalreserve.gov/newsevents/press/monetary/20081105a.htm
http://www.federalreserve.gov/newsevents/press/monetary/20081216d.htm
7) Federal Reserve Deposits
http://www.forbes.com/2009/02/03/banking-federal-reserve-business-wall-street-0203_loans.html
http://www.rgemonitor.com/financemarkets-monitor/254725/why_exactly_does_the_fed_pay_interest_on_reserves
8) From the Federal Reserves own reports, find the following in the report (remember this figure is in millions of dollars). Also under Release Dates at the top of page on any of these reports you can find past reports.
Current report (this link will change when archived). Depository institutions 955,220
As of May 20, 2009
http://federalreserve.gov/releases/h41/Current/
http://federalreserve.gov/releases/h41/20090507/
9. Consolidated Statement of Condition of All Federal Reserve Banks (continued)Millions of dollars Depository institutions 825,623 Wednesday May 6, 2009
http://federalreserve.gov/releases/h41/20090108/
9. Statement of Condition of Each Federal Reserve Bank, January 7, 2009 (continued)Millions of dollars Depository institutions 846,140 Total
http://federalreserve.gov/releases/h41/20081002/
4. Consolidated Statement of Condition of All Federal Reserve BanksMillions of dollars Depository institutions 179,291 Wednesday Oct 1, 2008
http://federalreserve.gov/releases/h41/20080807/
5. Statement of Condition of Each Federal Reserve Bank, August 6, 2008 (continued)Millions of dollars Depository institutions 10,862 Total
9) Congressional budget office estimates costs in millions to taxpayers, but date change starts in 2008 not 2011 and the estimates are based on normal deposits.
http://www.cbo.gov/doc.cfm?index=7692&type=0
10) http://en.wikipedia.org/wiki/Emergency_Economic_Stabilization_Act_of_2008
Taken from Wikipedia website.
The Fed announced that it would begin paying such increased interest on both reserve and excess reserve balances on October 6, 2008.[153] Banks immediately increased the amount of their money on deposit with the Fed, up from about $10 billion total at the end of August, 2008, to $880 billion by the end of the second week of January, 2009.[154][155] In comparison, the increase in reserve balances reached only $65 billion after September 11, 2001 before falling back to normal levels within a month.
How much interest is paid on $800,000,000,000??????????
Have found more important information on this and it looks like Senator Chris Dodd knew this would increase the federal deficit, as stated in a letter dated October 1, 2008 from the Congressional Budget Office Director Peter R. Orszag to The Honorable Christopher J. Dodd Chairman Committee on Banking, Housing, and Urban Affairs United States Senate.
http://www.cbo.gov/ftpdocs/98xx/doc9852/hr1424Dodd.htm
Quote from the letter:
Other provisions in Division A would on net increase the budget deficit. For example, the legislation would allow the Federal Reserve to pay interest immediately on certain reserve balances of depository institutions, rather than starting on October 1, 2011, as allowed under current law. CBO estimates that, over the next three years, the provision would reduce the Federal Reserve’s payments of its profits to the Treasury, which are classified as revenue in the federal budget.
Another reason Bill S 2856 from 109th Congress in 2006 needs to be repealed, this is just another way they are allowing corporate America to commit crimes legally. Sadly not a single member of Congress voted against this Bill, the Senate passed it unanimously and the House passed it with 417 yea votes with 15 not voting.
From the Bill:SEC. 720.
ELIMINATION OF CRIMINAL INDICTMENTS AGAINSTRECEIVERSHIPS.(a) INSURED DEPOSITORY INSTITUTIONS.—Section 15(b) of theFederal Deposit Insurance Act (12 U.S.C. 1825(b)) is amended byinserting immediately after paragraph (3) the following:‘‘(4) EXEMPTION FROM CRIMINAL PROSECUTION.—The Corporationshall be exempt from all prosecution by the UnitedStates or any State, county, municipality, or local authorityfor any criminal offense arising under Federal, State, county,municipal, or local law, which was allegedly committed bythe institution, or persons acting on behalf of the institution,prior to the appointment of the Corporation as receiver.’’.(b) INSURED CREDIT UNIONS.—Section 207(b)(2) of the FederalCredit Union Act (12 U.S.C. 1787(b)(2)) is amended by addingat the end the following:‘‘(K) EXEMPTION FROM CRIMINAL PROSECUTION.—TheAdministration shall be exempt from all prosecution bythe United States or any State, county, municipality, orlocal authority for any criminal offense arising under Federal,State, county, municipal, or local law, which wasallegedly committed by a credit union, or persons actingon behalf of a credit union, prior to the appointment ofthe Administration as liquidating agent.’’.
In closing just to let everyone know I am not a reporter and did not write this for financial gain only to inform, the reason I wrote this is last year an internal alarm went off when I heard about the bailout and I knew something was not right about what was happening. I like to think of it as starting a journey to the truth and I hope this is found out by all.
Sincerely,
Average Citizen
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