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OIL $200 A Barrel

By Michael Webster 12-6-07 4:15 PM PST

Venezuela's Hugo Chavez says he wants to send oil to $200 a barrel. Robert Zubrin has a plan to stop him. In his just released book, Energy Victory: Winning the War on Terror by Breaking Free of Oil, Zubrin, an American aerospace engineer known previously primarily for his inventive approach to Mars exploration, lays out the strategy.

The world leaders must come together to form an alliance and show the OPEC that the world no longer intends to depend on oil & other fossil fuels as the primary sources of energy. The road to renewable energy is very long & we are still at the beginning of our journey to a cleaner world but at least we can show the OPEC that we want to move towards cleaner fuels.

It has become apparent that there is a new strategy to destroy America. It is a new kind of warfare designed to destroy the value of American currency via a carefully coordinated attack against our dollar by a coalition of our enemies. And, based on the rapid shrinking of the dollar's worth, despite an economic boom, it appears to be working.

Since October, the dollar has fallen 4 percent against both the euro and the Japanese yen. And very recently, the dollar hit the lowest it has been against the euro since March 2005.

With the Dow setting records every week and America creating more jobs than it can fill, why is the dollar falling?

There are several reasons one of which is that approximately 70 percent of all foreign-exchange currency is currently held in U.S. dollars. The U.S. then sells Treasury debt into that foreign exchange market that we are losing.

Another reason id for years, North Korea's Kim Jong-il has been flooding the global economy with so-called "supernotes" – counterfeit U.S. $100 bills so good even Secret Service agents can't tell the difference without conducting sophisticated tests.

The 2005 arrests of major Asian crime figures in several U.S. cities led investigators straight to Pyongyang – and from there to Beijing. Experts now believe that a significant percentage of U.S. $100 bills now in circulation are counterfeit.

One of the obvious strategies is to flood the market with counterfeit dollars to deflate its value. Then to convert U.S. holdings to euros, thus pushing the dollar into a deflationary freefall.

In January 2006, China announced an intention to reduce 75 percent of its foreign exchange reserves currently held in U.S. dollars.

Since China is the world's second-largest holder of U.S. dollar-denominated foreign-exchange reserves, it has the power to create a catastrophe.

Still more reasons Venezuela and Iran are now demanding that all payments for oil shipments be paid for in euros – not dollars.

In addition, both nations are planning regional central banking schemes designed to hold all foreign exchange holdings of participating countries in euros instead of dollars. This explains why enemy operators, spearheaded by members of the Saudi royal family, have flooded hundreds of millions of dollars into Venezuelan held bearer-bonds that are used to buy as many banks as possible throughout the Caribbean and South American areas.

All these factors cannot be coincidence. They reveal a concerted, well-coordinated strategy to destroy America through economics.

I believe oil is being used in this same overall strategy against America. Last October, OPEC agreed to reduce production to keep oil prices up near $60 per barrel. The price was suggested by Hugo Chavez after consultation with his friends in Tehran and Moscow and accepted by OPEC.

With that one brilliant maneuver, Chavez cornered the global oil market. Venezuela has vast deposits of heavy oil in the Orinoco, but heavy oil is expensive to extract and refine at free-market prices. However, at $60 or above per barrel, the Orinoco reserves give Venezuela the largest proven oil reserves in the world.

So for those reasons and others $200 dollar a barrel oil will break the back of America’s economy. The only long term answer is alternative energy and we must replace America’s dependence on fossil fuels. This needs to be done immediately. The current administration with Bush’s families close ties with the Saudis they will do nothing but help to maintain the struggle hold the Middle East has on us. The congress is doing nothing. So we must make this the major issue in this current presidential campaign. Write your candidate see what his/or her views are on the subject and the one with the strongest position is the one we must all get behind.