This could be a deathblow for the economy. If Romney/Ryan don’t make domestic drilling and refining into a national security issue, then they deserve to lose. And if we re-elect that marxist/muslim bastard who has hamstrung our energy policy, then we all deserve the pain to come.
This sh!t just got serious and we’re debating windmills and electric cars.
Very smart to release this news on Sept. 11, when the nation was fixated on the Muslim attacks on our country, even as we were remembering the Twin Towers destruction. China may start calling in its chits if their economy continues to worsen, and the U.S. will be in deep doo-doo.
Lindsey Williams wrote a book called “The Non-Energy Crisis” about how oil is manipulated by the oil companies and the government. It is an easy read, not very well-written and very hard to find.
Even if a third of the book is accurate, still very frightening.
http://www.reformation.org/energy-non-crisis.html
Because Chine is such a huge exporter of oil, this will be devastating!
/s
I think it will be determined sometime around November 7th!
The dollar is dead.
I think it will be determined sometime around November 7th!
weak article and questionable source.
This issue is always comming up.
oil to be priced in yen.
oil to be priced in euro
oil to be priced in rubles
on and on.
meanwhile china is having its own ecconomic issues.
BRIC (Brazil, Russia, India, China and like-minded smaller countries) have been working hard to eliminate the use of the US $ in their international trade. They are well along and Bernanke is insentivizing them to work harder and faster to complete the process. Once the dollar is no longer a universal reserve currency the spell will be broken, the emperor will be seen to have no clothes and the rout will commence. It’s hard to say how close we are to that point but we are close.
China only exports around 400,000 barrels per day.
No one is going to want to buy oil with a currency that does not float.
Does China still peg the Yuan to the Dollar?
Not. Good.
At all.