File photo shows a construction site of Iran-Pakistan gas pipeline.
Fri Mar 1, 2013 2:28PM GMT
An unnamed Pakistani official confirmed on Friday that an Iranian-Pakistani consortium will start working on the gas pipeline as of March 11, 2013.
The date was announced after Pakistani President Asif Ali Zardari held several meetings with Iranian officials in Tehran earlier this week.
The pipeline will enable the export of 21.5 million cubic meters (mcm) of Iran’s natural gas to Pakistan on a daily basis. Iran has already built more than 900 kilometers of the pipeline on its soil.
Pakistan faces a crushing energy crisis which has caused difficulties in financing the pipeline which stretches from the border between the two countries to Nawabshah region in Pakistan.
Washington has repeatedly voiced its discontent with the joint project, but Pakistan has constantly dismissed rumors that it might pull out of the project amid efforts by the United States to convince the country to abandon the pipeline.
Last month, the Wall Street Journal said in a report that the United States had threatened Pakistan with stringent sanctions if it goes through the project.
“Washington has made it clear that it will impose economic sanctions on Islamabad if it begins to buy gas from Iran. Besides, the UN has mandated sanctions on any trade with the oil-rich country,” the report added.
Iran, the second largest owner of gas reserves in the world after Russia, has said it will provide USD500 million to help Pakistan build the pipeline on its side of the border.
Managing-Director of the National Iranian Gas Company Javad Owji said on February 26 that the Iran-Pakistan gas pipeline is expected to be constructed in 22 months on the Pakistani soil with the participation of Iran.
BANGKOK (AP) — Oil fell below $94 a barrel Thursday as disagreement among U.S. Federal Reserve officials about its super easy monetary policy weighed on prices ahead of the release of a report on U.S. crude inventories.
Benchmark crude for April delivery was down $1.64 to $93.58 per barrel at late afternoon Bangkok time in electronic trading on the New York Mercantile Exchange. The contract lost $1.88, or 2 percent, to finish at $95.22 a barrel on the Nymex on Wednesday.
Oil prices were undercut by expectations for higher U.S. crude supplies when the Energy Department’s Energy Information Administration releases its weekly inventory report later Thursday.
Carl Larry of Oil Outlooks and Opinions forecast a rise of 1.5 million barrels.
“An increase in inventories here may seem like the best thing with refineries cutting runs, but we’re cutting our imports and increasing our domestic production,” he said in an email commentary. Ample supplies tend to lower prices.
The decision on whether to approve the Keystone XL pipeline will be the first major climate change decision Obama will make during his second term. And given Obama’s strong comments on climate change during both his inaugural address and the State of the Union, Whitehouse said it’ll be hard for him to approve the project.
“It would create a huge credibility gap with the administration if they go that way,” he said.
The southern portion of the pipeline — from Oklahoma to Texas — is already under construction, and the 1,179-mile portion from Alberta to Nebraska is awaiting approval of a presidential permit from Obama. Last month, Nebraska Gov. Dave Heineman approved a revised route for the pipeline after the state’s Department of Environmental Quality said the route avoided sensitive areas of the Sandhills region.
The State Department will incorporate the Nebraska evaluation into the supplemental environmental review that will help inform the recommendation Secretary of State John Kerry will make to the president. Kerry thus far hasn’t shown his hand on whether he supports the project or not, but has said that he is committed to studying the pipeline and finishing the process begun by his predecessor, Hillary Clinton.
Kerry’s first foreign guest in his new job was Canadian Foreign Minister John Baird, and the two stressed that the economies of the two countries were inextricably linked and important to the other.
But to California billionaire investor Tom Steyer, the idea that investment in Canada should be the basis for economic growth in America is folly, and he said the investment will keep the U.S. economy dependent on oil for decades.
The following is an interview done by Doug Hagman of Canadian Free Press The first published article in August of 2012 Part I is here. Part II published in December of 2012 is here.
The information brought forth in these two article are bone chilling and very accurate in the case of the events we now see unfolding before us. I am making this available in hopes that it will wake those who are asleep and will fortify those who have known all along that something was horribly wrong. May it not be too late for us as a Nation. Becase if what is being revealed in this interview is fact,we are in for the fight of our lives. Or at least those of us who want to remain free……… Wherever possible I have added the videos or articles that pertain to the specific information being brought forth in the interview.
The following information was provided to me by my DHS contact on two different occasions. Information from my first contact was previously published in two parts . I was asked to withhold the final portion of the information that was provided to me at that time until after the inauguration. The following resumes where part II left off. At the request of this source and for the sake of continuity, the following combines the information withheld and the information from our most recent contact on 4 February 2013.
DH: Do I have your permission to record this conversation?
RB: Please do.
DH: We’ve spoken at different times since the information you gave me was published. You have since given me additional information on top of the information you asked me to withhold until after the inauguration. First, what was the reason for asking me to wait to publish the remainder of our discussion until after the inauguration?
RB: This bunch, top level DHS brass, is clamping down on leaks. One way they are finding leakers is to put out false information specific to certain individuals. They can trace the information directly to the leaker due to the nature and specificity of the information. It was part self-preservation, part vetting one of my closest and most important contacts. It was a test to assure that I am not being used for disinformation purposes or being targeted as a leaker. It was something I felt I had to do, and I’m glad I did. I feel more comfortable now about my sources.
DH: So, if I understand you correctly, your sources “passed” whatever test you were performing?
RB: Yes.
DH: And you still have access to information, I mean, whistleblower type information?
RB: I know what you mean, so I guess that’s one way to put it. Okay.
DH: For continuity and to refresh your memory, I’m going to play the remainder of our recorded interview from our contact last month.
[At this point, we listened to the dialogue previously recorded. After the recording concluded, this DHS source suggested that we combine new information with the previously recorded information to avoid unnecessary repetition. It was agreed and the recorder was turned back on with his consent].
DH: Just to be clear, let me hit this again. The main reason you asked me to wait to publish your previous statements had more to do with you, your sources and well, your own self preservation than the content of our discussion.
RB: I guess you could say that. But the information is still valid and becomes even more important when combined with the latest information I have for you.
DH: Okay, we can get on with it, then.
RB: First of all, two days after the inauguration, at exactly 7:00 a.m. on January 23, something called “the Cyber-Warriors for Obama Project” was activated. I heard about this the week after the election, but only saw a hardcopy draft in late December. From what I was told, I believe this is a project that is being paid for through funds from Obama’s political corporation, the 501(c)4 Organizing for Obama, I believe it’s called. I can’t be sure, but that’s what I was told.
At that time, I was shown a white, three-ring binder with Obama’s circular campaign logo imprinted on the outside of the binder with the name “Cyber-Warriors for Obama” printed in blue across the top. Inside were the names and e-mail addresses of 3,575 “cyber assets,” or “warriors,” listed in alphabetical order under about a dozen or so “team leaders.” From a separate sheet I was shown, most of these “assets” are being paid just over minimum wage, but as I understand it, they work from home and have no overhead. I believe there are about two dozen supervisors who make substantially more.
Now I only had the binder for a minute, and could not take it from the room I was in, so this is strictly from memory.
It was tabbed, and one section with the word “targets” had a list of religious web sites, web sites I recognized as Christian. Another section was a listing of conservative Internet sites. There was another tab with the label “problem sites” that seemed quite extensive. I looked at that section, and it was broken down further into “birther” sites, “pro-gun” sites, “anti-abortion” sites, just to name a few.
There was also a section of the usual news sites, like CNN, ABC, you know. Numerous e-mail addresses were conspicuous under each news organization, which also included Fox… [unintelligible]. I figured you were going to ask.
The first page of the binder had bullet points labeled “objectives” and instructions for the cyber-assets. There was also a very detailed non-disclosure agreement with the word “DRAFT” typed in big, light grey letters across the body of the two-page agreement. The agreement and the instructions were typed on white paper with a warning, printed in red on each page, that the document was not to be copied or disseminated.
DH: Where did you see this? I mean, was it at DHS?
RB: Yes, and that’s as much as I can say on the location.
DH: What’s the magic behind the number 3,575?
RB: I asked the person showing me [the binder] that question. Supposedly, it has to do with their budget, or the project funding.
DH: Go on.
RB: The instructions seemed very specific. Infiltrate web forums, collect screen names, avatars, and posters’ tag lines, and attempt to resolve these to their actual identities. I read one paragraph that listed circumstances when the “asset” was only to monitor but do not disrupt without authorization. There was another section titled “Divert, Disrupt and Destroy,” listing “how to’s” in certain cases.
There was also a section on maintaining a social media presence, and another on the most effective use of Twitter.
Lastly, there was a “reference section,” which included statistics, specific language to use to marginalize different posters, and effective methods to discredit people while maintaining a sense of legitimacy.
It was surreal, to say the least.
Oh, one more thing that’s important. As I said, these “kids,” or young people I believe, are known collectively as “Cyber-Warriors for Obama.” The subheading was “And the truth shall set you free.” Truth? Really? They were hired on their hacking abilities, or more precisely on their abilities to make postings through proxy servers and effectively use alternate identities and multiple e-mail addresses. Their purpose is to spread disinformation, not truth.
There were also motivational statements on various pages, including one that referred to Obama as the “Pharaoh of the Internet,” which I thought was an odd characterization.
But what’s important is that suddenly, through the use of Internet aliases, multiple e-mail addresses, and screen names, a project that employs 3,575 people will have the appearance and effectiveness of maybe 10,000 or more different people.
*************************************************************************************
DH: Do you know if these “team members” have their own copies of the binder you saw?
RB: No. I was told that these people were hired through the campaign offices located throughout the country, and that training meetings were held at various locations. The binders were for instructional purposes, not to hand out. Although I think the people have, or were given, a list of web sites.
I don’t know any more on the actual mechanics of the project.
DH: During our previous contact, you said that we should listen to Obama’s comments about the economy, I mean during the inaugural speech. What’s so significant about that?
RB: Well, this is perhaps the most important issue people need to understand. There will be, and was, talk of a recovery and a stronger economy, but it’s all propaganda. As you heard me say in the recording you just played, the complete inaugural address will be a “Baghdad Bob” moment, and it was. Many economists will use false figures and statistics to deceive the American people. People must not downplay the importance of the economic aspect of this address. The sudden collapse of the U.S. dollar (however it actually plays out) and everything that goes with it (such as social chaos and riots) will be one part of a plan that was set in motion a long time ago.
DH: During our previous contact, you said that we should listen to Obama’s comments about the economy, I mean during the inaugural speech. What’s so significant about that?
RB: Well, this is perhaps the most important issue people need to understand. There will be, and was, talk of a recovery and a stronger economy, but it’s all propaganda. As you heard me say in the recording you just played, the complete inaugural address will be a “Baghdad Bob” moment, and it was. Many economists will use false figures and statistics to deceive the American people. People must not downplay the importance of the economic aspect of this address. The sudden collapse of the U.S. dollar (however it actually plays out) and everything that goes with it (such as social chaos and riots) will be one part of a plan that was set in motion a long time ago.
DH: And you are getting this from your current intelligence sources? Frankly, I’m not sure I completely understand the connection between DHS and what’s going on with the economy. Seems like it should be separate.
RB: What’s not to understand? The economic devastation that will take place is an attack, a planned attack on the U.S. Just look at it that way. This “regime” already knows the outcome, which is the debasement of our national currency. Like I said, it’s been in the works most recently since the 1990s. A collapse does not happen without a lot of pain -people losing everything in their retirement accounts, savings and so on. Don’t you think that will cause one hell of a national security problem? And who is running our national or domestic security? DHS.
Oh, and one of the reasons I wanted to include more recent information into our discussion relates to something you did last month, after our talk. I know you said you did not want to source your own work, but there was one important radio program you did that caused a very angry response inside DHS.
DH: How so?
RB: You had a financial insider on your program who went by some letter, like the first or last letter of his name.
DH: Yes, that was “V” who is a source for Steve Quayle. We did a program at the beginning of January, I think – I’d have to look. [Edited to add that the actual program was 11 January 2013.]
RB: Yeah, that was it. If you ask your network, I think you’ll find a request was made for the transcript of that program by DHS. The information given by that source was protected, or confidential, especially regarding the actions of big bankers here in the U.S. and the foreign markets. These international bankers are playing a big role in killing the U.S., and although they’re bold, they still don’t want certain things disclosed before their time.
DH: But that information had nothing to do with national security. I mean, how would this relate to DHS?
RB: Now you’re giving me a headache [laughter]. Let me spell it out for you, and this is the crux of everything. We have Obama (or whatever his real name is) in the Oval Office. You’ve said it before, that America is a “captured operation.” Well, it is, and every top level operative at DHS and Justice knows it. They have his dossier.
Think about Obama’s mother working in microfinance with Timothy Geithner’s father. What are the odds? And that’s just one “coincidence.”
A lot of people won’t get this until it’s too late, or maybe never get it. But take a good look at Obama and the people who surround him. Look at the 2008 economic crisis under Bush. Look at the run up to where we’re at today. The orchestrated boom of the 1990s. The GLB Act signed into law under Clinton that changed the complexion of our domestic economy. Look at the people who are still around, the architects of this. It’s a big lie! It’s all been rigged, and the insiders know this! Look at the continuity of agenda since “Bush senior.”
Now listen to what I am telling you. This is a continuing operation that involves many of the same people on both sides of the aisle in Washington. This is one of the reasons why no one wants to talk about Obama’s past. He is the product of a continuing intelligence operation, put in power to oversee the dismantling of the U.S., with the economy being the lynchpin of our destruction. Obama, Jarrett, and the Clintons are in constant contact with all high level operatives inside the DHS. Perhaps not directly in all cases but through their contacts. They are working together to see to it that the U.S. economy is brought down, robbing the people of their wealth and then blaming partisan politics for the crash.
For the first time in recent history, you’re going to see people hungry and out in the streets. Those unprepared or those thinking this is all [expletive deleted], desperate and begging for food. Think Katrina, but on a national scale. That’s what is being planned for Americans, and few people are willing to see what’s happening, or willing to believe it. Now here’s where DHS, my sources and information comes in.
WASHINGTON – President Barack Obama did some cherry-picking Tuesday night in defense of his record on jobs and laid out a conditional path to citizenship for illegal immigrants that may be less onerous than he made it sound.
A look at some of the claims in his State of the Union speech, a glance at the Republican counterargument and how they fit with the facts:
OBAMA: “After years of grueling recession, our businesses have created over 6 million new jobs.”
THE FACTS: That’s in the ballpark, as far as it goes. But Obama starts his count not when he took office, but from the point in his first term when job losses were the highest. In doing so, he ignores the 5 million or so jobs that were lost on his watch, up to that point.
Private sector jobs have grown by 6.1 million since February 2010. But since he became president, the gain is a more modest 1.9 million.
And when losses in public sector employment are added to the mix, his overall jobs record is a gain of 1.2 million.
OBAMA: “We have doubled the distance our cars will go on a gallon of gas.”
Everybody is looking at the gun “problem” in America. Fights over the Second Amendment. State laws that go against the Constitution. Blame it on Sandy Hook or Colorado. Tell people we need to be disarmed because it’s for the children. It’s all [expletive deleted]. Most people know it’s all [expletive deleted], but that’s where their rational assessment stops. Why do you think the people in power want to -no – need to disarm the public? It’s because they are planning an economic collapse, and an armed and informed populace is a danger to their plan.
In the aftermath of a deadly shooting at Sandy Hook Elementary School in Newtown Conn., President Obama addresses the nation on gun control and also talks about ongoing fiscal negotiations.
Caught on Camera: Joe Biden admits gun control will not stop mass shootings or save lives
Published on Feb 3, 2013
Joe Biden was caught on camera in Washington saying that new gun control laws will notprevent another mass shooting or lower the number of gun deaths. Yet the President and Biden are telling us that we MUST pass gun control even if it saves just one life.
Gun Control — No matter what your opinion, you need to see this
Published on Feb 6, 2013
Gun Control — No matter what your opinion, you need to see this
The Constitutional government of the United States has been overthrown, and the American people have been captured. The only question now is what are we, as true Americans believing that our Constitution is the one and only law of the land, going to do about it? It’s now simply a matter of what the blowback from the tyranny being thrust upon us will look like, how or even if it will play out.
If you are looking for normal political solutions out of this legal, financial, moral and spiritual mess of a country, I believe that time has long passed. If your hope rests in a change with the midterm elections, go back to sleep or better yet, increase the dosage of your medication. It is clearly evident by the actions and inaction of the spineless or compromised leaders in whom you’ve placed your hope and future, and the future of your children and grandchildren, that doing so again will change nothing. We are a captured operation, and partisan politics is nothing more than theater to divert your attention from the iron fist of tyranny that is about to change life as you know it.
You must understand that our nation today is ruled not by democrats or republicans, but by the party of royalty with a European mindset and a Globalist agenda. The morphing from a two-party system into one of elite royalty did not happen overnight, but incrementally and under the proverbial radar of a deliberately distracted public.
Much of what you see, hear and read is a lie so big that you don’t recognize it as a lie, and so bold that it operates without question or impediment right in front of us. There are plenty of writers and talkers who will sugar-coat the lie or participate in political theater for air time, print space or a paycheck, but I refuse to be one of them. Allow me to walk you through my investigative findings into the “Obama conspiracy” to show you just how deep the lie goes. By the end of this summary report, I hope that you will better understand the lie, the objectives of those involved, and the fate intended for us all.
They are not coming for our guns
“Did you really think we want those laws observed?” said Dr. Ferris. “We want them to be broken. You’d better get it straight that it’s not a bunch of boy scouts you’re up against… We’re after power and we mean it… There’s no way to rule innocent men. The only power any government has is the power to crack down on criminals. Well, when there aren’t enough criminals one makes them. One declares so many things to be a crime that it becomes impossible for men to live without breaking laws. Who wants a nation of law-abiding citizens? What’s there in that for anyone? But just pass the kind of laws that can neither be observed nor enforced or objectively interpreted – and you create a nation of law-breakers – and then you cash in on guilt. Now that’s the system, Mr. Reardon, that’s the game, and once you understand it, you’ll be much easier to deal with.” -Ayn Rand, Atlas Shrugged
Would you believe me if I wrote that the government is not after our guns? Probably not, as it certainly looks that way with the pending executive orders and new gun legislation. Well, the guns are secondary. I urge you to think bigger, “think outside of the box.” Make no mistake about this, they will come after our guns, but they are coming after us.
DH: Wait, wouldn’t it make sense to let the guns stay in the hands of the people and have the people shoot it out among themselves? Wouldn’t this fit in with their desire for chaos, and make it easier for Martial Law to be implemented?
RB: In a way, but you’re still not thinking big enough. The way this is being planned includes that scenario, but they are very afraid that once total chaos breaks out, they will become the targets. So to a point you’re right, but then a crackdown must take place.
DH: But the elected ones are well protected.
RB: Yeah, but you are not thinking like them. There are several scenarios or models they have commissioned. They exist in printed form and have been given to Obama and Jarrett specifically. It’s war gaming with the American people. That caused some mid-level military people with a conscience to ask what the hell is going on, and some even refused to take part in these exercises. By the way, Napolitano is the go-to person for these models.
Anyway, there is a fear that their own people won’t be loyal to them when everything begins to implode. You’ve been seeing purges lately. Remember what Jarrett supposedly said about being “hell to pay” after the re-election? That process has started.
These are just three of the many that have taken place in the last 6 years. There are so many more ranging from the Gay members of Reverend Wrights church of which Obama was a member and had been tied to Obama in intimate ways. Just as you will find the mysterious deaths of 0/11 witnesses. This is more than just Obama this has to do with those who are truly in control and are tightening the noose. Dont believe me do your own research look up all the mysterious deaths and see what you find for yourself.
~Desert Rose~~
…
Bizarre last Days of Top White House Aide Found Murdered and Dumped in Landfill – Alex Jones Tv
Uploaded on Jan 5, 2011
Disorientated and wearing just one shoe’: Bizarre last sighting of top White House aide found murdered and dumped in landfill
John Wheeler III DC Murder Mystery: Parking Lot Footage
Whistleblower Andrew Breitbarts Convenient Death
Published on Oct 14, 2012
Radio host Alex Jones talked about the death of Andrew Breitbart. He was suspicious of the circumstances surrounding the conservative blogger’s demise, since it fell on the very day that Breitbart had previously announced plans to release damning videos of Barack Obama. Additionally, Jones contended that the swift media reports claiming that Breitbart died of “natural causes,” despite subsequent news releases saying it would take weeks before that could be determined, was “a big sign that this was some type of staged event.” While he washopeful that Breitbart’s death was not the result of a nefarious plot, Jones declared that “we would be fools” not to consider the quizzical timing of the journalist’s passing.
Andrew Breitbart (/ˈbraɪtbɑrt/; February 1, 1969 — March 1, 2012) was a conservative American publisher, commentator for The Washington Times, author, and occasional guest commentator on various news programs, who served as an editor for the Drudge Report website. He was a researcher for Arianna Huffington, and helped launch her web publication The Huffington Post.
He owned the news aggregation site, Breitbart.com, and five other websites: Breitbart.tv, Big Hollywood, Big Government, Big Journalism, and Big Peace. He played key roles in the Anthony Weiner sexting scandal, the resignation of Shirley Sherrod, and the ACORN 2009 undercover videos controversy.
Death
On March 1, 2012, Breitbart collapsed while walking in Brentwood. He was rushed to Ronald Reagan UCLA Medical Center, where he later died. He was 43 years old. An autopsy by the Los Angeles County Coroner’s Office showed that he had cardiomegaly and died of heart failure. The toxicology report showed “No prescription or illicit drugs were detected. The blood alcohol was .04%. No significant trauma was present and foul play is not suspected.” Personal friend of Breitbart, Bill Whittle, had said that Breitbart had a “serious heart attack” just months before his passing.
In remembrance, Republican presidential candidates Rick Santorum, Mitt Romney, and Newt Gingrich praised Breitbart. Santorum called Breitbart’s passing “a huge loss” that strongly affected him, while Romney said Breitbart was a “fearless conservative”, and Gingrich called him “the most innovative pioneer in conservative activist social media in America….”
His funeral was held March 6, 2012, at a Jewish cemetery in West Los Angeles. Attendees included his father-in-law Orson Bean, Matt Drudge, Herman Cain, Thaddeus McCotter, Greg Gutfeld, Ed Morrissey, Guy Benson, and Rob Long.
Andrew Breibart’s LA Coroner Dies!
Published on Apr 29, 2012
Medical examiners in Los Angeles are investigating the possible poisoning death of one of their own officials who may have worked on the case of Andrew Breitbart, the conservative firebrand who died March 1, the same day Sheriff Joe Arpaio announced probable cause for forgery in President Obama’s birth certificate.
Michael Cormier, a respected forensic technician for the Los Angeles County Coroner died under suspicious circumstances at his North Hollywood home April 20, the same day Breitbart’s cause of death was finally made public.
“There are mysterious circumstances surrounding his death,” said Elizabeth Espinosa, a news reporter for KTLA-TV. “We’re told detectives are looking into the possibility that he was poisoned by arsenic.”
Cormier, 61, had been rushed to Providence St. Joseph Medical Center in Burbank after complaining of pain and vomiting.
Andrew Breitbart’s Assigned Coroner Dead? Poison Suspected
Published on May 2, 2012
Medical examiners in Los Angeles are investigating the possible poisoning death of one of their own officials who may have worked on the case of Andrew Breitbart, the conservative firebrand who died March 1, the same day Sheriff Joe Arpaio announced probable cause for forgery in President Obama’s birth certificate.
Michael Cormier, a respected forensic technician for the Los Angeles County Coroner died under suspicious circumstances at his North Hollywood home April 20, the same day Breitbart’s cause of death was finally made public.
“There are mysterious circumstances surrounding his death,” said Elizabeth Espinosa, a news reporter for KTLA-TV. “We’re told detectives are looking into the possibility that he was poisoned by arsenic.”
Help Sheriff Joe blow the lid off Obama’s fraud. Join the Cold Case Posse right now!
Cormier, 61, had been rushed to Providence St. Joseph Medical Center in Burbank after complaining of pain and vomiting.
“He was transported there early in the morning, and passed away late at night,” Ed Winter, assistant chief of operations and Cormier’s colleague at the Los Angeles County Department of Coroner, told KTLA. “It affects everybody when you lose a co-worker, but we’ll proceed and do our job and try to figure out why Michael died.”
The hospital then notified Los Angeles Police about Cormier’s death.
“At this point we haven’t ruled out foul play,” police Lt. Alan Hamilton told the Los Angeles Times. “It is one of the things being considered. We are waiting for the coroner’s results.”
Toxicology results are not expected for five to six weeks.
Sources told the Times several hazardous materials experts and officers searched Cormier’s home in search of what may have caused his sudden demise.
Michael Cormier
“The sources, who spoke on the condition of anonymity, said that finding the presence of poison does not necessarily mean the death was a homicide, because the substance could have accidentally entered his system,” the Times reported.
Hamilton also noted investigations are standard procedure when there’s a suggestion of anything other than natural causes in someone’s death.
It’s still unclear if Cormier personally worked on the probe into Breitbart’s death, and WND has left messages with the coroner’s office seeking comment.
On April 20, the same day Cormier died, the coroner’s office released its findings into the death of Breitbart, stating the 43-year-old conservative media powerhouse died of natural causes, listing cause of death as heart failure.
“No prescription or illicit drugs were detected. The blood alcohol was .04%,” the official report said. “No significant trauma was present and foul play is not suspected.”
Breitbart was founder of BigGovernment.com among other websites.
The night before Breitbart died, WND senior staff reporter Jerome Corsi arranged for Breitbart to interview Arizona Sheriff Joe Arpaio, who the very next day held a news conference to announce there was probable cause to believe President Obama’s birth certificate released on April 27, 2011, was a forgery, as well as Obama’s Selective Service Card.
“I have known Andrew for nearly 15 years and considered him a friend. His passion and energy for seeking the truth will be greatly missed by the nation
“What or Who killed Andrew Breitbart? Now the Coroner is dead! What did he know?” by Fred Brownbill
“What or Who killed Andrew Breitbart? Now the Coroner is dead! What did he know?” by Fred Brownbill http://www.saveamericafoundation.com/…
DH: Okay, but wouldn’t they be safer by speaking out, by telling everything they know? Some ordinary people might call them cowards. Why not just go public[interrupted/over talk]
RB: Yeah, how’d that work out so far? And go public to who? CNN? They are in real danger, and so are their families. Anyone close to them. Even if one or two would go public, how do you think that would work out for them? I’ll tell you how. They would make [Senator] McCarthy look like an American hero, which he was, but that’s… They’ve made it so that no one will be able to make any real difference to their agenda. They know that.
DH: So no one is going to say anything – ever?
RB: That’s not what I said. Some will talk when the time is right. Some have “insurance policies” that will be used at the right time, when they will make the most difference.
DH: I feel like we’re getting off point. So, what is being planned?
RB: The DHS will oversee the domestic crackdown that will happen when the perfect storm bears down on us. And the perfect storm is the economy, meaning the U.S. dollar collapse and hyperinflation, racial or class riots sparked by a high-profile incident, and another mass causality event involving guns. Watch for these three things to happen all at once, or in close succession.
The polarization caused by these events will be sufficient to cause a second civil war.
DH: When? How soon will all of this happen?
RB: I don’t have a crystal ball, but I have seen various reports referencing unprecedented “drills” to take place in later March and April. I’ll mention this because I know a lot of people on the inside at DHS have seen this. A document called “Operation Thunderdome.” It’s maybe 50 or 60 pages, I’m not certain. It describes an economic collapse in the U.S., followed by an attack on the government by “a made-up patriotic group.” It combines gun owners, Constitutionalists, and even Christians into an enemy group that pulls off an attack in Washington.
But don’t fall into the trap of trying to pick the time of these events. Their plans are flexible, but their objectives are carved in stone.
DH: Sounds like a Reichstag type event- sometime.
RB: Exactly. Maybe not just one. They have plans and back-up plans and back-ups for the back-ups. And in spite of the warnings, and history, enough people will be outraged and side with the government. This brings me to my final point. What do you think all of the prepositioning of paramilitary assets, caches of ammunition, and the opening of non-descript buildings owned or leased by the federal government are for?
It’s for you and people like you. It’s for those who are turned in by their neighbors, friends, co-workers, and others who are hungry, broke and broken. What we are about to experience will be like it was during the Civil War, only worse. People will be outgunned, surveillance will be everywhere, and it will be much more difficult to hide and fight back. Not impossible, but more difficult.
DH: So you’re painting a picture of a Mad Max scenario, hence the reference to Thunderdome?
RB: Believe it or not, part of the model, or at least one of them, includes the depiction of a somewhat “normal” society, at least after the initial “hostilities.” People will be controlled by the national government, centralized – in order to escape the chaos. Think of it this way. You want food and medical care? You will not be able to own a gun, period. The current federal legislation is all window dressing – a distraction. No one expects anything meaningful to pass. It won’t have to. States, yes, but those states are lining up for federal money. The elected leaders are of the same ideology as Obama, but aside from those, we’ll see many people turning in their weapons for food, shelter, medical care, and false guarantees of safety. That’s what the new normal will look like.
As I said, you’ve got to think bigger – much bigger. The lies are bigger than most people can imagine. The people at the top are laughing at us. Think about that. They are laughing at us because it’s right in front of our noses. And you know, the bigger the lie…
DH: Yes, the more people will fall for it.
RB: Right. I think we’re done here for now. I’ve given you as much information as I know, as I have seen. Watch the economy – the indicators. Watch for a false flag. We are being baited. Let people pooh-pooh this information, seek information through FOI requests. Not gonna happen. We’re talking about an operation so black and so big, and one that has to be done in the next few years, under Obama.
This is something that is international in scope. The plan is international, and is dedicated to the dismantling or destruction of America. It’s happening right in front of us, but too few can actually see it.
DH: I’m sure you, well… We’ll be accused of scaring people without citable evidence.
RB: People need to wake up. Believe me or don’t. It’s their choice.
Douglas Hagmann, founder & director of the Northeast Intelligence Network, and a multi-state licensed private investigative agency. Doug began using his investigative skills and training to fight terrorism and increase public awareness through his website.
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With revolution percolating through the oil-rich sands of the Middle East, the Rothschild/Rockefeller energy oligopoly that has enslaved humankind and decimated planet Earth for the last century is coming apart at the seams. The arrogance and stupidity of the self-proclaimed “illuminated ones”, who operate their energy matrix from the City of London, is being writ large for all to see.
Troops from Saudi Arabia and the United Arab Emirates (UAE) have entered Bahrain to help the al-Khalifa petro-monarchy put down pro-democracy protests. Protests have been violently suppressed in Kuwait and Saudi Arabia. This desperate coercion, condoned by Western powers, represents a last-ditch effort at salvaging the Gulf Cooperation Council (GCC) – the neo-colonial modus operandiorganized by the London banksters.
The six GCC nations – Saudi Arabia, Kuwait, Bahrain, UAE, Qatar and Oman – sit atop 42% of the world’s oil. The single-family monarchies that control them were hand-picked by the British Empire. They work in tandem with Israel to steal crude oil from the Arab people. They – not China or Japan – are the biggest foreign sovereign purchasers of US Treasuries. Their interests lie not with the Arab people, but with the City of London and Wall Street.
The bloodline elite of the six GCC nations are heavily invested in Western economies. High volume crude oil production keeps this investment capital flowing to Wall Street and the City of London while allowing the GCC elites to live opulent lifestyles. As Saudi Oil Minister Hisham Nazer put it, “We now have a mutual bond of self-interest and reciprocal security interests.”
As Western dependence on Third World resources has increased, it has become increasingly necessary for the international bankers and their corporations to include local elite cliquesin their capital accumulation schemes, making a small group of local people extremely wealthy so that this group will cooperate in selling local resources cheaply to the West.
The bloodline elite of the six GCC nations are heavily invested in Western economies. High volume crude oil production keeps this investment capital flowing to Wall Street and the City of London while allowing the GCC elites to live opulent lifestyles. As Saudi Oil Minister Hisham Nazer put it, “We now have a mutual bond of self-interest and reciprocal security interests.”
An example of this utilization of local elites as surrogates can be seen through the case of the richest man in the world. He is Sultan Hassanal Bolkiah, Sultan of Brunei – a tiny oil enclave on the island of Borneo, where Royal Dutch/Shell holds a virtual monopoly over the oil industry and has paid the Sultan well to keep it that way. The Sultan of Brunei is worth over $60 billion and lives in a 1,778-room palace.
These local elite, in turn, hand over their wealth to Western bankers for protection from devaluation and bank failure. This robs their home country of much-needed capital and often precipitates devaluation and debt crises. The US has itself become a debtor nation and owes its debts, in part, to these same Third World elites, who own trillions on deposit at large US banks, while their fellow countrymen live in abject poverty.
Egyptian elites, for example, hold $60 billion in deposits in foreign banks, while the average Egyptian earns $650/year. In the case of the GCC, the amount of recycled petrodollars flowing back into Western investments is truly staggering.
The Saudis have over $600 billioninvested abroad. Citigroup owns 33% of the Saudi American Bank but is itself now controlled by members of the House of Saud. In 1993 Saudi Prince al-Waleed bin Talal, owner of Saudi Commercial Bank, plunged $590 million into Citibank. bin Talal now owns 17.34% of Citigroup, while Crown Prince Abdullah owns a 5.4% share, making them the bank’s two largest shareholders. bin Talal is also the 2nd largest shareholder in Rupert Murdoch’s Newscorp, parent of Fox News and the Wall Street Journal.
The Saudi Citigroup share purchases were facilitated by the Washington-based Carlyle Group, which is 20% owned by the Mellon family that owned Gulf Oil and now owns a large chunk of Chevron Texaco. Carlyle is led by former Reagan and Bush Defense Secretary and Reagan NSC Chairman, Frank Carlucci. George Bush Sr., James Baker III, and former British Prime Minister John Major, are senior advisers and board members at Carlyle.
Bush Sr. served as Carlyle investment advisor to the bin Laden family until November 2001.
In 1995 Prince bin Talal teamed up with Canadian developer Paul Reichmann, Loews chairman Larry Tisch and Lebanese financier Edmund J. Safra – a close friend of war-criminal Henry Kissinger – to buy London’s Canary Wharf complex for $1.04 billion.
UAE ruling Sheik Zayed runs the Abu Dhabi Investment Authority. Much of its money is handled by private investment and equity firms like Carlyle Group and Donaldson, Lufkin & Jenrette, which is 18% owned by the Saudi Olayan Group. Olayan also owns big chunks of JP Morgan Chase and CS First Boston. The director of the Abu Dhabi Investment Authority serves as Carlyle Group’s Asian adviser.
Bahrain plays a role in this petrodollar recycling, serving as the key unregulated offshore banking center for both the GCC sheiks and their international mega-bank partners. Bahrain is also home to the US Fifth Fleet and a large number of refineries, which process Saudi crude.
The Saudis have over $600 billion invested abroad. Citigroup owns 33% of the Saudi American Bank but is itself now controlled by members of the House of Saud. In 1993 Saudi Prince al-Waleed bin Talal, owner of Saudi Commercial Bank, plunged $590 million into Citibank… and the 2nd largest shareholder in Rupert Murdoch’s Newscorp, parent of Fox News and the Wall Street Journal.
Lebanon had been the premier bankingcenter of the Middle East in earlier days, but with Beirut reduced to rubble by Israeli shelling, merchant banking has moved to the duty-free port of Dubai in the UAE, which is now the biggest gold market on the planet. Investment banking is centered in Kuwait.
But it is Bahrain that is home to the vast multi-billion dollar pool of money market funds derived from GCC/Four Horsemen petrodollar revenues. Most banks in Bahrain are foreign-owned and all US mega-banks have operations there. Many of Bahrain’s banks are owned by GCC elite and serve as a major conduit in the petrodollar recycling process. The Kuwait Burgan Bank, for example, owns a 28% stake in one of Bahrain’s largest banks – the Middle Eastern Bank.
Investcorp’s First Board of Directors. 1982
The most powerful firm in Bahrain is Investcorp, which took big stakes in Saks Fifth Avenue, BAT, Tiffany, Gucci, Color Tile, Carvel Ice Cream, Dellwood Foods, New York Department Store of Puerto Rico, Circle K and Chaumet.
Investcorp was co-founded in 1983 by Bahrain ruling family scion Sheik Khalifa bin Sulman al-Khalifa – who also owned a big chunk of the infamous BCCI. A recent Investcorp prospectus lists the Bahrain Minister of Finance as an owner.
Investcorp’s chairman is Abdul-Rahman Al-Ateeqi, former Oil and Finance Minister of Kuwait. Its Vice-President is Ahmed Ali Kanooof the wealthy Saudi Kanoo family, which is worth an estimated $1.5 billion. Former Saudi Oil Minister Sheik Yamani was one of Investcorp’s founding shareholders, along with seven members of the Saudi royal family.
WASHINGTON – The Obama administration has delayed a decision on TransCanada Corp’s rerouted Keystone XL oil pipeline until after March, even though Nebraska’s governor on Tuesday approved a plan for part of the line running through his state.
“We don’t anticipate being able to conclude our own review before the end of the first quarter of this year,” said Victoria Nuland, a spokeswoman at the State Department, which had previously said it would make a decision by that deadline.
She said the department would take into consideration approval of the line by Nebraska Gov. Dave Heineman.
Interest in the fate of the $5.3 billion pipeline that would link Canada’s oil sands to refineries in Texas has been heightened after President Barack Obama promised to fight climate change.
Obama said in his inaugural address on Monday the United States will respond to the threat of climate change and that failure to do so would “betray our children and future generations.
The Keystone pipeline is staunchly opposed by environmentalists, who say it will lock the United States for 50 years into dependence on fuel that has higher emissions than average crude oil refined in the United States.
They want the State Department to re-examine the climate impact of the line after it previously said the project would not result in additional emissions because the oil would find its way to market even if Keystone were not built.
Germany’s forests have become an attractive target for thieves.
With energy costs escalating, more Germans are turning to wood burning stoves for heat. That, though, has also led to a rise in tree theft in the country’s forests. Woodsmen have become more watchful.
With snow blanketing the ground, it’s the perfect time of year to snuggle up in front of a fireplace. That, though, makes German foresters nervous. When the mercury falls, the theft of wood in the country’s woodlands goes up as people turn to cheaper ways to heat their homes.
ANZEIGE
“The forest is open for everyone to enter and people just think they can help themselves, but they can’t!” says Enno Rosenthal, head of the forest farmers association in the northeastern German state of Brandenburg. “Naturally, those log piles belong to someone and there is a lot of money and work that goes into them.”
The problem has been compounded this winter by rising energy costs. The Germany’s Renters Association estimates the heating costs will go up 22 percent this winter alone. A side effect is an increasing number of people turning to wood-burning stoves for warmth. Germans bought 400,000 such stoves in 2011, the German magazine FOCUS reported this week. It marks the continuation of a trend: The number of Germans buying heating devices that burn wood and coal has grown steadily since 2005, according to consumer research company GfK Group.
Benchmark oil for January delivery was down 33 cents to $87.95 per barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange. On Friday, the contract rose 90 cents to close at $88.28 a barrel on the Nymex after Israeli troops fired on crowds in Gaza surging toward a border fence, killing one Palestinian.
Prior to the shooting, oil prices had been falling, thanks mostly to optimism that the cease-fire agreement between the two sides would prevent a broader conflict in the region that could disrupt crude supplies. The truce was struck last Wednesday to end to an eight-day Israeli offensive against Gaza militants who had fired rockets into Israel, but remains fragile.
Traders were also keeping a close eye on developments in Egypt, said independent oil analyst Stephen Schork. Egyptian President Mohammed Morsi on Sunday moved to grant himself near-absolute power, sparking street clashes between his supporters and opponents.
Brent, which is used to set prices for many international varieties of oil, fell 33 cents to $111.05 a barrel.
Other futures on the New York Mercantile Exchange:
— Wholesale gasoline lost 0.2 cent to $2.719 a gallon.
— Natural gas lost 5 cents to $3.851 per 1,000 cubic feet.
Wholesale prices in the U.S. rose more than forecast in September, reflecting a jump in fuel costs that failed to trickle down to other goods.
The producer price index climbed 1.1 percent after a 1.7 percent gain in August, the Labor Department reported today in Washington. The median estimate in a Bloomberg survey of 76 economists called for a 0.8 percent increase. So-called core producer inflation, which excludes volatile food and energy prices, was unchanged, the first time it didn’t increase since October 2011.
Facing a global economic slowdown, businesses may have difficulty passing higher energy costs onto customers, keeping a lid on prices. In addition, weak demand from abroad and in the U.S. will probably prevent the cost of raw materials from flaring, limiting inflation pressures and allowing the Federal Reserve to focus on jump-starting employment growth.
“Inflation is still non-problematic,” said Avery Shenfeld, chief economist at the Canadian Imperial Bank of Commerce in Toronto, who correctly forecast the jump in the price index. “The Fed has made clear that getting unemployment down is priority number one as long as inflation is reasonably contained, and we don’t see anything that’s going to shift that in the near term.”
Stock-index futures held earlier gains after the report. The contract on the Standard & Poor’s 500 Index maturing in December rose 0.2 percent to 1,431.7 at 8:46 a.m. in New York. Treasury securities dropped, erasing earlier gains and bringing the yield on the benchmark 10-year note to 1.66 percent, little changed from 1.67 percent late yesterday.
Survey Results
Economists’ estimates for the price index ranged from an unchanged reading to a gain of 1.7 percent. Core prices were projected to climb 0.2 percent, the Bloomberg survey showed.
Compared with a year ago, companies paid 2.1 percent more for inputs after paying 2 percent more in the 12 months ended August. The core index increased 2.3 percent in the year ended in September, the smallest 12-month advance since June 2011.
The increase in the producer price index was led by a 4.7 percent jump in energy prices. The cost of gasoline climbed 9.8 percent, while diesel fuel surged 9.2 percent, the most since December 2010, the report showed.
Core prices were restrained by a 0.7 percent drop in the cost of communications gear, the biggest decrease in more than eight years. Prices for computers and related equipment dropped 1.5 percent, the most since August 2011, helping to offset a 0.3 percent gain in light motor trucks.
Production Line
Price pressures bubbled up all the way down the production line reflecting the cost of fuel, according to today’s data. The price of intermediate goods climbed 1.5 percent, and crude costs rose 2.8 percent.
“In regards to inflation, we have seen rising costs in commodity-related products throughout the year although at lower levels than last year,” William Giles, chief financial officer at AutoZone Inc. (AZO), said during a Sept. 19 earnings call. “We expect subdued producer pricing heading into the new year, and therefore we feel costs will be predictable and manageable.”
With subdued inflation, the Fed can focus on the other part of its dual mandate: achieving full employment. The central bank said Sept. 13 it would buy $40 billion of mortgage bonds a month until the U.S. sees what Chairman Ben S. Bernanke described as an “ongoing, sustained improvement in the labor market.” The Fed also said it would probably hold its target lending rate near zero at least through mid-2015.
Fed’s View
“Members generally continued to anticipate that, with longer-term inflation expectations stable and given the existing slack in resource utilization, inflation over the medium term would run at or below the Committee’s longer-run objective of 2 percent,” according to the minutes of the Federal Open Market Committee’s Sept. 12-13 meeting.
Producer prices are one of three monthly inflation gauges reported by the Labor Department. The consumer price index, due Oct. 16, rose 0.5 percent in September following a 0.6 percent gain the prior month, according to the median estimate in the Bloomberg survey. The cost of goods imported into the U.S. rose 1.1 percent last month, reflecting higher fuel costs, Labor Department data showed yesterday.
Interview conducted By. James Stafford
Washington DC (SPX)
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Nowadays the energy picture is confusing at best as the more information we are shown the more blurred our vision seems to become. Mixed messages, poor reporting and a media hungry to sensationalize anything it thinks can grab a The Real Cause of High Oil Prices – An Interview with James Hamilton have led to many wondering what the true energy situation is. We hear numerous reports on how the shale revolution will transform the energy sector, why alternatives are just around the corner, why advances in oilfield extraction techniques and new finds will help to lower oil prices.
Yet no sooner have we read these rosy reports than we are bombarded with negative news on the Middle East, on why alternatives will never compete, on peak oil and declining oil production.
So where do we really stand? Is our energy future one of falling prices and plentiful supply or should we prepare for declining supply and sky high prices?
To give readers a real understanding of where we are Oilprice.com was fortunate enough to speak with the world’s leading energy economist, Professor James Hamilton.
James is a professor in the Economics Department at the University of California, San Diego. He has been a visiting scholar at the Federal Reserve Board in Washington, DC as well as many of the Federal Reserve Banks; and has also been a consultant for the National Academy of Sciences, Commodity Futures Trading Commission and the European Central Bank and has testified before the United States Congress. You can find more of his work on his website Econbrowser
James Stafford: Oil prices have shot up in the last month. What range do you see oil prices trading in over the next 12 months?
James Hamilton: Oil prices have always been very volatile. If you look at 12-month logarithmic changes in WTI going back to 1947, you come up with a standard deviation of 0.27. In other words, 25% moves up or down within a year are fairly common, and 50% moves or greater have also been seen on a number of occasions.
If you look at options prices at the moment, they imply the same level of uncertainty looking forward. For example, somebody today is willing to pay $2.90/barrel for a NYMEX option to buy oil in September 2013 at $120/barrel, consistent with a standard deviation of annual log changes of 0.26. The market is saying that prices that high or higher are not that remote a possibility.
And if you look at current fundamentals, it’s not hard to imagine big moves in either direction coming fairly quickly. The price of oil would surely collapse if we saw a significant economic downturn in China (something nobody can rule out) or if Iraq succeeds in producing even half of its ambitious production targets (though I personally consider the latter unlikely). On the other hand, a military confrontation with Iran could produce a pretty spectacular price spike. If the Strait of Hormuz were to close, for example, it would represent a shock to world production that in percentage terms would be 3 times as big as the 1973-74 OPEC embargo.
Because the demand for oil is so insensitive to the price over the short run, and because there is little excess capacity in the world at the moment, even small disruptions or additions could produce big price changes. For this reason, I do not have a lot of confidence in anybody’s near-term oil-price forecasts.
On the other hand, I think we understand pretty clearly the main factors behind the overall increase in oil prices since 2005. Demand for oil, particularly from the emerging economies, has grown significantly, and we have had a hard time increasing global production. The single most likely outcome is that both conditions will continue to be with us. The most likely scenario is that the next decade will look something like the last, with oil prices volatile but exhibiting an upward trend.
James Stafford: For the past century or so, economies have generally been built upon energy. The economies with access to plentiful, cheap energy have developed the most. With the stagnation of oil production growth, how do you suggest economies could continue to grow from here? Should we stop expecting to see constant economic growth as the norm?
James Hamilton: I think this has put a significant burden on the oil-consuming countries. These economic problems have been compounded by the fact that some of the key manufacturing that once came out of countries like the United States and Japan has now been taken over by the emerging Asian economies.
But there is still a strategy for trying to take advantage of the resources we do have. The United States has had astonishing success in producing natural gas. This could be the basis for a renewed manufacturing advantage, a new source of U.S. exports, or an alternative transportation fuel. We should be looking for regulatory reform and infrastructure investment to encourage consumers and entrepreneurs to adopt alternatives to conventional gasoline-powered vehicles.
James Stafford: Apart from the Iran and Syria situations – are there any other geopolitical risks that could lead to increased volatility in the energy markets?
James Hamilton: The list of oil-producing countries is almost a Who’s Who of world trouble spots. There is ongoing unrest in Sudan and Nigeria, and it wouldn’t take much to see a major turn of events in Venezuela and Kazakhstan. Iraq, a key hope for future increases in production, has been a place of conflict for most of the last three decades. The same forces that disrupted production in Egypt and Libya last year could easily return. And the key worry about Syria and Iran is the possibility that instability there could spill over into other nations of the region.
James Stafford: Even though many Asian nations have found a way to continue trading with Iran, its economy is still suffering from high inflation and high unemployment. Do you believe that the US Sanctions are having enough of an impact on the Gulf state’s economy to force them into a deal over their nuclear program?
James Hamilton: I was surprised that the sanctions were as effective as they were in preventing Iran from selling all the oil it wanted. But the other key element of that diplomatic strategy is the assumption that Iran will respond to economic pressure by acceding to U.S. demands. The other possibility is that, if significantly wounded, the regime would lash out more desperately. This looks to me like a scary situation.
James Stafford: Whenever oil prices spike politicians are quick to blame speculators and oil companies for manipulating the markets. Are you in agreement with this – are speculators and oil companies to blame? Or are there other factors that are overlooked deliberately or otherwise by the mainstream media?
James Hamilton: The story is pretty simple, and even though politicians may try to distort it, you’d hope that the media would do a better job of reporting the truth than they have. World oil production was basically stagnant between 2005 and 2008, even though world GDP was up 17%. With economic growth like that you’d normally expect increased demand, particularly from the rapidly growing emerging economies, and in fact China did increase its consumption by a million barrels a day over these 3 years. But with no more oil being produced, that meant that the rest of us– the U.S., Europe, Japan– had to reduce our consumption. It took a pretty big price run-up before that happened. To those claiming the price is too high, I would ask, how high do you think the price had to go to persuade Americans to reduce oil consumption by a million barrels a day?
James Stafford: Could you let us know your thoughts on the shale revolution. How do you see it playing out and do you think we have been oversold on shale’s potential?
James Hamilton: This is a real success story, and a primary reason that U.S. production is now rising rather than falling. But there are several key points to keep in mind. First, it is not cheap to produce oil with these methods– tight oil is never going to be the reason we get back to $50/barrel. Second, we’re likely to face much steeper production decline rates from individual wells than was the case for conventional oil production. The same also applies to deepwater production. So those who think these new technologies will put us back in the world we once knew are in my opinion missing the big picture.
James Stafford: Drilling technology advances, new oil finds and now all the hoopla over shale oil – one would assume we are swimming in the black stuff, yet we have seen no material increase in global annual crude oil production for six straight years. Have we reached a period of peak oil? Or is Daniel Yergin correct in saying that we have decades of further growth in production before flattening out into a plateau?
James Hamilton: I do not think the expression “peak oil” is the most helpful way to frame the question. Too many people have a knee-jerk reaction as soon as they hear the phrase. I can’t tell you how many times I’ve seen people assume that it means that we’re “running out of oil”, which straw man they then try to debunk. I would instead call attention to the basic fact that the annual production flow from any given field shows an initial period of increase followed by subsequent decline. Anyone who tries to deny that has a serious lack of grip on reality. Production from the original Oil Creek District in Pennsylvania peaked in 1873, and from the state of Pennsylvania as a whole in 1891. There’s a long, long list of areas that have exhibited declining production rates for a long, long time. Global production nonetheless continued to increase for a century and a half, not so much because we got more out of the old fields, old states, old countries, but because we turned to new ones. But that game is obviously not one we can continue to play forever.
Yes, Yergin today is optimistic about the future. But I remember that Yergin was also very optimistic in 2005, and the last 7 years have not looked at all like he was predicting they would. We’ve increased production only a little bit since 2005, despite tremendous incentives to do more. I think many people are making a mistake if they assume that world oil production is always going to increase, year after year.
James Stafford: What are your thoughts on the Keystone XL Pipeline – is it something that needs to be pushed through after the presidential elections? Or something the country can live without?
James Hamilton: It is ridiculous to see oil selling in Cushing at a $20 discount to the world price and oil in North Dakota selling at a $20 discount to WTI. Since the 1860s we understood that pipelines were the logical way to transport oil. Somehow the Keystone pipeline became a symbol of some bigger controversies that in my opinion should be completely separate from the question of the most economically efficient (and for that matter, the most environmentally friendly) way to transport oil.
There are several work-arounds in progress, such as reversal of the Seaway Pipeline and plans to build just the Gulf Coast portion of Keystone. But I think that given the magnitude of the drop in U.S. demand and success of North American production, we’ll need additional measures.
James Stafford: How would you see energy production changing in the U.S. under a Romney Administration?
James Hamilton: Romney wants to be more aggressive in approving oil exploration and development, and that should make a difference. But it’s easy for the politicians to overstate how much they can change. The U.S. is moving ahead with tight oil production, and is going to do so no matter who is the president, because the economic incentives are just too powerful for anybody to stop it. On the other hand, it’s a big world out there, and anyone who thinks that U.S. production alone is going to make up for declines from mature fields and burgeoning consumption of emerging economies is in my opinion way too optimistic. The world faces a huge challenge, and I think we need to take that challenge very seriously.
James Stafford: James, thank you for taking the time to speak with us.
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The following information was provided to me by my DHS contact on two different occasions. Information from my first contact was previously published in two parts . I was asked to withhold the final portion of the information that was provided to me at that time until after the inauguration. The following resumes where 
Investcorp’s First Board of Directors. 1982
