Sign of the Times? Peak Oil Website Shuts Down

[Solstice Goat]

For years, we've been pointing out that Peak Oil is a dominant social theme, a scarcity meme used by the powers-that-be to reinforce the US petrodollar and generally to control economic and sociopolitical elements of society.
And now comes word via various news reports including a story at MarketWatch that a main Internet proponent of the Peak Oil myth � The Oil Drum � is shutting its doors.
Here's how MarketWatch describes it:
... A website created and frequented by advocates of "peak oil," is closing its doors July 31 after an eight-year run. The site will be kept as a repository of old articles, but will no longer offer new ones, according to a post on the site dated July 3.
The decision was reached thanks to "scarcity of new content caused by a dwindling number of contributors" and the cost of running the site, the post said. The post garnered more than 700 comments from readers mourning the site's virtual death. Commenters suggested "donate" buttons and other ideas to raise money.
With news of record-breaking North American oil and gas production seemingly every day, maybe it just got too hard to maintain a site devoted to the notion that the world's oil production was at or near a peak ... Detractors gleefully pointed out that the theory did not take into consideration technological advances, while defenders retort that, inevitably, demand for oil will outstrip supply, leading to higher oil prices and shortages.
Count us among the detractors.
For close to a decade, we've been identifying and exposing pernicious scarcity memes that seek to scare middle classes into giving up power and wealth to globalist enterprises such as the United Nations, International Monetary Fund, World Bank, etc. Peak Oil was among the higher profile of these memes probably because it was among the most useful.
When top men in the US government and at the Federal Reserve wanted to go off a gold standard, they used Peak Oil concepts to justify the petrodollar. People were led to believe that the only large-scale oil reserves were in the Middle East and then various green manipulations made it difficult to gain oil throughout the West. The Saudis agreed to demand dollars for oil and the rest was history. The world had to hold dollars and dollars became a "reserve currency."
But now the game is changing. Shale oil and gas � extracted via fracking � have suddenly made it clear that far from suffering from oil scarcity, the world is awash in energy.

Once 'Peak Oil' had fizzled, some other reason to continue the warfare campaign had to be invented; Enter the Muzlim as the worlds new 'Boogyman'. Perhaps the campaign in the Middle East is to prevent the oil from flowing, further erroding prices, and making Algores' holdings in Oxidental Petrolium worth far less.

https://www.thedailybell.com/29387/An...ite-Shuts-Down

[Mad Scientest]

Yes we have more oil and natural gas then we know what to do with. It is now estimated that we have a 400 year supply without having to look for a single new drop. Of course TPTB have been well aware of this for a long time. Peak oil was never the real issue rather it was money, power and control over the people.

A deal was made with the mid-eastern countries; we would limit our oil production and buy their oil if in turn they would buy our national debit. This was done because the US is actually broke and has been for many decades, in affect we have been using one credit card to pay off another credit card. This is obviously a house of cards that will eventually come crashing down.

It is starting to look like all the wars and back room deals that have been used to prop up the system may soon be coming to an end.

[jfh]

What irks me is that the US is still paying subsidies to the oil companies in the disguise of research needs. It is all about money. And there is a great deal of it where oil is concerned. I'm still wondering if Iran is so low on oil that they know they need to move to nuclear for power. This way the can sell the oil to other countries, instead of using it themselves.

Kind of reminds me of the diamond industry. Prices are fixed and manipulated among all the players.