Wednesday, March 2, 2011

And now, the "explanation" for high long-term oil prices

(Reuters) - High oil prices are a threat to the global economic recovery and present a challenge the world will have to face over the long term, the International Energy Agency's chief economist said on Wednesday.
Oil prices have surged in recent weeks on unrest in the Middle East and North Africa, producing regions that Birol said are among the few places that could increase production in coming years.

"In the current context, I see risks that those investments may be deferred for some years as a result of cost increases and ... increasing risks for domestic and international investors," he told Reuters.

So, we're supposed to believe that high oil prices are the result of chaos in a major oil-producing country controlled by a brain-damaged swine, and that they'll stay high because of the potential for more chaos. After all, the chaos began at about the same time as the high oil prices, so that proves it. The rise in oil prices will now be used to explain the rise in the price of everything else.

In fact, Libya is a British colony run by their puppet who was selected to help "explain" what's happening now. We're not supposed to realize that pumping trillions of unbacked dollars into the world economy would obviously cause inflation, and that the chaos is partly an orchestrated attempt to conceal this fact.

You've got to stop seeing these "experts" as independent voices, and more as mouthpieces for the global virtual-reality generator, a.k.a. Mammon's media, which despite its monopoly on "truth" still has difficulty keeping its lies straight.