Published on Energy Bulletin (http://www.energybulletin.net)

Saudi Oil Production Dropped by 400,000 Barrels Last Month
Published by LifeAfterTheOilCrash.net on Fri, 08/20/2004 - 08:00
Original article: http://www.lifeaftertheoilcrash.net/BreakingNews.html
by Matt Savinar

Matt Savinar from LifeAfterTheOilCrash.net comments on an article from the E-Commerce Times entitled Nymex Crude Resumes Rally; Yukos Concerns (updated 21 Aug):

You need to scroll about 1/3 of the way through the article to get to the part about Saudi oil production having dropped. As you may already know, the world's largest oil field, Ghawar is at best fading, but more likely, dying. Coupled with Matt Simmons' dire warnings about Saudi oil production, this drop in Saudi production is  a very disconcerting development, especially since OPEC claims they are pumping at full capacity. The situation is worrisome enough that the  EIA just placed Saudi Arabia on its list of "Areas to Watch."

If Saudi oil is truly in decline, $50 oil will seem cheap in near future. Throw in a terrorist attack on Saudi oil infrastructure, or the overthrow of the House of Saud, along with the fact that the world's second largest oil field, "Cantarrel," is also dying, and you have little choice but to reach the dire conclusion that oil prices might hit $125 sooner than even Samsam Bakhtiari predicts.
As you already know, Matt Simmons has predicted oil will reach $182.Somebody like Simmons does not make a statement like that to the press that he knows will be distributed to the public unless he's got a damn good reason to.
What few people realize is that a drop in Saudi oil production could  legally lead to the dissolution of the Constitution and institution of martial law in the very near future. Should oil approach the $125-$200 mark in the near future, the US (and world) economy will be absolutely devastated. Economic growth would grind to a halt. The effects of oil breaching the $100 mark will be far worse than they were in the 1970s because our economy is so much more indebted and leveraged than it was 25 years ago.
The following executive orders may be activated by the President during a crisis that threatens "economic growth and prosperity":  (each one is linked to its full text)
•10995: Right to seize all communications media in the United States.
•10997: Right to seize all electric power, fuels and minerals, both public and private.
•10999: Right to seize all means of transportation, including personal vehicles of any kind and total control of highways, seaports and waterways.
•11000: Right to seize any and all American people and divide up families in order to create work forces to be transferred to any place the government. sees fit.
•11001: Right to seize all health, education and welfare facilities, both public and private.
•11002: Right to force registration of all men, women and children in the United States.
•11003: Right to seize all air space, airports and aircraft.
•11004: Right to seize all housing and finance authorities in order to establish “Relocation Designated Areas” and to force abandonment of areas classified as “unsafe.”
•11005: Right to seize all railroads, inland waterways, and storage facilities, both public and private.
•11921: Authorizes plans to establish government control of wages and salaries, credit and the flow of money in US financial institutions.
In other words, Saudi oil production in decline = massive economic meltdown = Germany 1939-1940 here in America 2004-2005.
And it would be legal. No input by Congress. No review by the Supreme Court.  No protesting in the streets. No calling into the talk shows. No posting on message boards. No running to Canada.
Nothing.
"But this is just liberal paranoia," right? Not according to the ultra-conservative Newsmax.com or the even more conservative CATO Institute.
Folks, even the chief of OPEC has stated the recent run up of oil prices has him "very concerned."  Al-Jazeera is as worried about Saudi oil production as Matt Simmons is.
When the chief of OPEC and Al-Jazeera are both this concerned about high oil prices, you know something big is around the corner.
There's a reason Bush won't release oil from the Strategic Petroleum Reserve even though doing so would bring down oil and gas prices and thereby increase his chances of reelection.
It's the same reason he won't drop Cheney and replace him with Giuliani on the ticket even though doing so would be politically expedient.
Connect the dots yourself. The corn is already over our heads.
Kerry will do the same if he gets into office. He has promised to fight the "war on terror" better than Bush.  The foreign "war on terror," (which is really the "war for oil") is intricately connected and intertwined with the war on dissent here at home.
As Martin Luther King warned us, "Remember, everything Hitler did was legal."
As FDR's Vice-President Henry Wallace warned us, "It can happen here."

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Source URL: http://www.energybulletin.net/stories/2004-08-20/saudi-oil-production-dropped-400000-barrels-last-month

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