dilettantedude

The Global Oil Scam: 50 Times Bigger than Madoff

I'm always skeptical of conspiracy theories, which this seems to be in spades. One has to compare conclusions arrived at via conspiracy theory with other informed actors such as the DOE's EIA and knowledgeable individuals such as Harold Hamm.

Billionaire Harold Hamm, head of Continental Resources, is cranking up capital spending in the hugely productive Bakken in North Dakota because he sees a shortage of oil. I'll take his deep, practical knowledge of world oil markets over conspiracy theory accounts based on hazy trading data any day.

The EIA obtains its data not from traders, but from actual measures of oil production and estimated reserves. They disagree totally with you, and have for several years now. There are some great charts on their website to show their summary of the data.

I'm assuming you aren't crazy enough to claim Hamm and the EIA (plus many others in academia, business and government) are part of your conspiracy, so I'd have to see a compelling explanation of where they are missing something huge before I'd take your conspiracy theory seriously over their data, on the ground savvy, and money.