Oil, Gold, and Silver Prices Up as Saudi Arabia Faces Unrest

Oil, Gold, and Silver Prices Up as Saudi Arabia Faces Unrest

www.infowars.com

Oil market speculators used the escalating conflict in Libya as an excuse to jack up crude prices to $106 per barrel today. Crude oil prices rose on news opposition forces and soldiers loyal to Moammar Gadhafi clashed near some of the country’s key energy infrastructure.
Benchmark crude for April delivery was up $2.25 to $106.67 a barrel by early afternoon in Europe. The price increase is the highest since September 2008, according to the Associated Press. In London, Brent crude for April delivOil prices were on a steady rise prior to the engineered revolutions in North Africa. Traders wer

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After rising 4.2% Friday, spot silver traded up a further 2% or 66 cents to $36.33 a troy ounce today, driven by higher oil prices due to political unrest in Libya and elsewhere in the Middle East, the Wall Street Journal reports.
In December, Lindsey Williams predicted the price of oil would skyrocket to between $150 and $200 a barrel this year. Williams served as a pastor on the Alaskan pipeline and has insider sources within the oil industry.
On March 1, Williams told Alex Jones the uprisings in the Middle East are engineered by the global elite and will soon spread to Saudi Arabia.
Protests are planned in the oil kingdom and the government has promised to dispatch 10,000 troops to put down any dissent. The demonstrations were initially planned for Friday – the Muslim day of worship when demonstrations are traditionally held – but organizers of demonstrations have decided to take to the streets today, March 7, according to Forex News. On Saturday, Saudi Arabia announced it would not allow any demonstrations or sit-in protests in the country.
A member of Saudi Arabia’s royal family, Prince Talal Bin Abdul Aziz Al Saud, said on February 17 the kingdom may see protests unless King Abdullah introduces reforms, according to BBC Arabic TV. Abdullah announced plans to spend about 110 billion riyals ($29 billion) on programs aimed at boosting housing, education and social welfare.
In response to the prospect of demonstrations in Saudi Arabia and the growing conflict in Libya, Dubai’s shares retreated for a third day on Monday. “Investors are shunning assets in the region as the political turmoil, which started in Tunisia more than two months ago, expanded to Oman, Bahrain, Yemen, Libya and Iran,” reports Bloomberg.




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It has begun. Buckle up folks.

If Saudi Arabia goes the same way as Egypt, Tunisa, Liyba et al then We are in for SOME SERIOUS TROUBLE everyone....

PDUK

reply to post by PurpleDog UK


You are right, all we can do is prepare right? :/

If the price of oil gets to 120 or more, and stays, massive hyperinflation will be upon us. Never thought Id be alive to see the US fall. Maybe even experience a depression the likes of which no one has ever seen!

Check out THIS thread

I suggest buying some petrol now and putting it in your shed or something for when the prices get even higher, oh and also lock your petrol caps my nan had some petrol siphoned from her car last week in the night.

What's the value on olive oil did it go up as well? more than the price of crude oil per barrel? more than gold per ounce?

I tell ya what. If the oil prices continue to go up, the US will be thrust into massive hyperinflation. With the given state of the US dollar, the purchasing power will decline, ( which further suggests the failure of our monetary system ) With out a tangible asset backing the dollar, US dollar becomes more and more worthless.

And with the continued idiocy of the Federal reserve, pumping more and more worthless dollars into the system, would only expedite that decline.

How is any of this bad news? Just adapt. If you know those things are going up in price, buy it. Buy silver. Build solar. Grow food. Those three things are going to be the real currency. The very fact you are thinking about it now puts you in a position of great wealth later on.

Besides, I think people gaining their freedom and overthrowing their governments far out weigh the amount it impacts our fat asses in the west. It's like complaining about an ambulance rushing to the hospital making you late for work.

reply to post by Cuervo


I agree with you, gardening would save money all around. But as you stated:

If you know those things are going up in price, buy it. Buy silver.

Given the current market, where most people don't have the money to pay their mortgage, much less invest into any commodities, how would you suggest making these purchases with no money? With very little money that would make a difference, squeezing a few dollars for a couple of ounces of gold or silver, aren't going to be tangible assets that amount to much.

Originally posted by Whereweheaded
reply to post by Cuervo

 

I agree with you, gardening would save money all around. But as you stated:

If you know those things are going up in price, buy it. Buy silver.

Given the current market, where most people don't have the money to pay their mortgage, much less invest into any commodities, how would you suggest making these purchases with no money? With very little money that would make a difference, squeezing a few dollars for a couple of ounces of gold or silver, aren't going to be tangible assets that amount to much.

edit on 7-3-2011 by Whereweheaded because: (no reason given)

If you have money in a bank account or any money at all, you can buy it. It doesn't go away. Even if you need that money next week, you can always sell it back for cash with little inconvenience. You would be surprised at the amount of cash you don't need when you start turning it into silver coins. It's much more reliable and convenient than any 401k or money market variant.

I understand people are broke but even the most broke people I know still get Starbucks or shots on Friday nights or a pack of smokes each day. If there is truly nothing to spare then focus on hoarding food with your food stamps.

reply to post by Cuervo


I've started my own garden, you'll be surprised how much money you save on vegetables when you grow them yourself. Not to mention, the quality is better.

I got this in my Email today.... sounds like Lindsey Williams information.... Gull Island Alaska TS oil field.

_____
About 6 months ago, the writer was watching a news program on oil and one of the Forbes Bros. was the guest. The host said to Forbes, "I am going to ask you a direct question and I would like a direct answer; how much oil does the U.S. have in the ground?" Forbes did not miss a beat, he said, "more than all the Middle East put together." Please read below.




The U. S. Geological Service issued a report in April 2008 that only scientists and oil men knew was coming, but man was it big. It was a revised report (hadn't been updated since 1995) on how much oil was in this area of the western 2/3 of North Dakota, western South Dakota, and extreme eastern Montana ..... check THIS out:


The Bakken is the largest domestic oil discovery since Alaska 's Prudhoe Bay , and has the potential to eliminate all American dependence on foreign oil. The Energy Information Administration (EIA) estimates it at 503 billion barrels. Even if just 10% of the oil is recoverable... at $107 a barrel, we're looking at a resource base worth more than $5...3 trillion.



"When I first briefed legislators on this, you could practically see their jaws hit the floor. They had no idea.." says Terry Johnson, the Montana Legislature's financial analyst.






"This sizable find is now the highest-producing onshore oil field found in the past 56 years," reportsThe Pittsburgh Post Gazette. It's a formation known as the Williston Basin , but is more commonly referred to as the 'Bakken.' It stretches from Northern Montana , through North Dakota and into Canada . For years, U. S. oil exploration has been considered a dead end. Even the 'Big Oil' companies gave up searching for major oil wells decades ago. However, a recent technological breakthrough has opened up the Bakken's massive reserves..... and we now have access of up to 500 billion barrels. And because this is light, sweet oil, those billions of barrels will cost Americans just $16 PER BARREL!




That's enough crude to fully fuel the American economy for 2041 years straight. And if THAT didn't throw you on the floor, then this next one should - because it's from 2006!


U. S. Oil Discovery - Largest Reserve in the World




Hidden 1,000 feet beneath the surface of the Rocky Mountains lies the largest untapped oil reserve in the world. It is more than 2 TRILLION barrels. On August 8, 2005 President Bush mandated its extraction. In three and a half years of high oil prices none has been extracted. With this motherload of oil why are we still fighting over off-shore drilling?


They reported this stunning news: We have more oil inside our borders, than all the other proven reserves on earth.. Here are the official estimates:

- 8-times as much oil as Saudi Arabia


- 18-times as much oil as Iraq
- 21-times as much oil as Kuwait


- 22-times as much oil as Iran


- 500-times as much oil as Yemen


- and it's all right here in the Western United States .


HOW can this BE? HOW can we NOT BE extracting this? Because the environmentalists and others have blocked all efforts to help America become independent of foreign oil! Again, we are letting a small group of people financed by (George Soros group) dictate our lives and our economy.....WHY?

James Bartis, lead researcher with the study says we've got more oil in this very compact area than the entire Middle East -more than 2 TRILLION barrels untapped. That's more than all the proven oil reserves of crude oil in the world today, reports The Denver Post.
Don't think 'OPEC' will drop its price - even with this find? Think again! It's all about the competitive marketplace, - it has to. Think OPEC along with George Soros, just might be funding the environmentalists? (We don't have to think about it. It's a
known fact--Morry)


Got your attention yet? Now, while you're thinking about it, do this:


Pass this along. If you don't take a little time to do this, then you should stifle yourself the next time you complain about gas prices - by doing NOTHING, you forfeit your right to complain.


Now I just wonder what would happen in this country if every one of you sent this to every one in your address book.

By the way...this is all true. Check it out at the link below!!!
GOOGLE it, or follow this link. It will blow your mind.

reply to post by ISRAELdid911


If this is the case then my mind has made a connection already, Oil runs out, who do we turn to? What next?... break out the new tech? No! America has oil! Eventually it will run out... oh more oil found in Sweden?...

OR -

We are dependent on America, America pushes the world, We (the collective countries that are now dependent on America's oil) wage war on each other or America, or all.

Oil > $120USD > 90 days =

1. destabilization of global trade

2. insufficiency of most nations to adequately provide basic services for their people


these two lead to:

ww3

which means:

get your ass to mars, get get your ass to mars, get get get get your ass to mars.. or something similar.

reply to post by unityemissions


yup, a Total Recall! ( no pun intended )

reply to post by unityemissions


Those type of prices start to put so much strain on countries like the UK, we'll have no choice but to start thinking about going back to a 3 day week (as we did in the oil crisis of the 70s)

en.wikipedia.org...

from 1 January until 7 March 1974 commercial users of electricity would be limited to three specified consecutive days' consumption each week and prohibited from working longer hours on those days.

In all honesty they could not survive a return to such an age, hence why I feel we'll see some drastic measures being taken.. and a good chance it'll lead to a wider conflict.

Originally posted by thoughtsfull
reply to post by unityemissions

 

Those type of prices start to put so much strain on countries like the UK, we'll have no choice but to start thinking about going back to a 3 day week (as we did in the oil crisis of the 70s)

Can you be more clear with your comment. People now-a-days have more info and because of that know there was no energy shortage in the 70's..american gas prices went from 36.9 cents a gallon to 69.9 cents a gallon .Gas stations ran out of gas because americans PANICKED, the oil tankers were sitting in the bays waiting to be let in to our refineries. Why did oil prices fall from $147Bbl to $37Bbl in the summer of 2008? Exploitation of North American Oil.
The Fat Lady hasn't sang her song yet.

reply to post by mikeybiznaz


The U.S. has roughly two months of oil supplies ready to go. That's if all outside sources were cut. Opening up a little bit to drop prices could be done for a longer time, but at what long-term consequences?!

If we truly start to permanently open up reserves, that pretty much signals ww3, and the end of civilization as we know it... until a viable energy solution becomes scaled up to handle global demand.

Have you any evidence that the temporarily boost from US reserves is what triggered the price collapse in oil back in late 2008? I'm interested to take a look at whatever you can bring to light. It's my understanding that the price drop had more to do with the global recession taking it's toll.... people simply drive less, and purchase less.... they use less oil.. in a recession.