The Fletcher Prouty Commentary - June
Greasing the Palms of the Oil Barons
In the first place what is oil? Is it 85% carbon, 13% hydrogen and 0.5% oxygen with traces of sulfur and nitrogen. Most geochemists ( in the pay of oil companies) believe that the oil originates from the decomposition of organic matter. They would have us believe that because organic matter - that is, formerly living organisms - is quantifiably a very limited source, the supply of oil itself must be limited.
It is not.
Oil is often called a "fossil" fuel; the idea being that it comes from formerly living organisms. This may have been plausible back when oil wells were drilled into the fossil layers of the earth's crust; but today, great quantities of oil are found in deeper wells that are found below the level of any fossils. How could then could oil have come from fossils, or decomposed former living matter, if it exists in rock formations far below layers of fossils - the evidence of formerly living organisms? It must not come from living matter at all!
Furthermore, if all the plants, insects and animals that ever lived were all squeezed into a massive ooze, there is no way they could have amounted to the volume of oil that has been found to date. They just would not make that much juice. On top of this, oil geochemists will admit, if pressed, that if all the oil wells ever drilled by their so - called scientific methods of divining had been drilled totally at random, they would have found as much oil with random drilling as by " educated " drilling. In other words, there is a lot of oil down there.....most everywhere. Just drill for it - and if you don't strike it, drill a little deeper.
There can only be one answer to the misinformation we have about oil. The oil men have always wanted a monopoly control, and with it, they want to charge as much money as they can for every gallon of gasoline. With this, they gross hundreds of billions of dollars per - year. They want us to believe that our present rate of oil consumption, we have possibly 20 to 30 years before we run out. They make this sound credible with their " decomposed organic matter" fable.
By bursting this bubble and pulling the plug on this scenario, we discover that petroleum is a natural organic product that is rising, in enormous quantities , from deep within the earth; with deeper drilling, as wildcatters are already doing, there will adequate oil for a long, long time, even at the present rate of consumption.
From 1956 to 1971, the number of giant oil fields more than doubled as drills go deep into the Paleozoic strata and below. Today, there is a glut on the market, and those who control oil are doing all they can to limit production in order to keep the prices very high. To do this, they get a lot of government help.
Shortly before William J. Casey became the head of the CIA, he made a speech before the American Bar Association during which he advocated " international agreements to establish commodity reserves and maintain prices". This is the kind of policy oil men like. At the same conference, Hans Heymann, one of Casey's deputies at the CIA, talked about the "enormous oil inventory building that we've had", and that " we (CIA) developed a system of institutions and codes of conduct that make it far easier for those who influence the international marketplace to exercise that influence". It is " those who influence the marketplace" who are the oil barons, and they are taking us for hundreds of billions of dollars every year - with the aid of almost all Western governments.
L. Fletcher Prouty