VSF: Are the 1% storing up oil for what is coming? Was the so-called oil glut created by the Saudis at the behest of the United States a covert way to stock up for our very dim future much like the Svalbard Gloabal seed Vault on the Norwegian island of Spitsbergen?
Exposing The Oil Glut: Where Are The 550 Million Missing Barrels?!
By Leonard Brecken / 09 March 2016
“Of the 1 billion barrels reportedly produced but not consumed, roughly 420 million are being stored on land in member countries of the Organization for Economic Cooperation and Development (OECD). Another 75 million barrels are thought to be stored at sea or in transit by tanker somewhere from the oil fields to the refineries. That leaves 550 million “missing barrels” unaccounted for, apparently produced but not consumed and not visible in the inventory statistics…”
So, in other words, OVER HALF of the supposed glut that the IEA has reported is unaccounted for. Not 5 or 10 percent, but greater than a whopping 50 percent. Does anyone believe that half of the glut is just missing?
In the article John explains that it could be in hidden or unaccountable locations. But that doesn’t seem credible. It is hard to believe that HALF of the entire world’s excess supply cannot be justified with the data? At $40 oil, that is some $22 billion in oil that is squirreled away somewhere that millions of people simply don’t know where it is?
Yet does anyone care to even question such non-sense? No, of course not, just like every other government statistic that is taken at face value and traded on by headline-driven algorithms. There used to be a time when Wall Street did real research, but that appears to be gone now. Either demand has been understated by the IEA, or supply has been vastly overstated…any rational person would conclude the same.
Pictures: “Doomsday” Seed Vault Safeguards Our Food Supply