The Crisis Going On Right Now, That You Are Not Being Told About...
We have seen a lot of crazy things in the last few weeks… like a worldwide quarantine, a complete shutdown of the worlds economy, and the fastest stock market plunge in history.
And despite how shocking those things have been, there is one part of this crisis that hasn’t really been talked about by anyone…yet would likely be the number one story in the world during any other time in history…
The United States, Saudi Arabia, Russia, Iraq, Iran, China, and Canada. What do these countries have in common? Well, not much actually. Except that these countries are the worlds largest oil producers.
And as you may know, Oil has historically been a hot commodity that can single handedly determine if a country or state is going to be rich or poor.
Lets take norway for example. Norway has the 6 highest GDP per capita in the world, it is the 2nd wealthiest country in terms of monetary value, it consistently ranks in the top 3 in the world in regards to standard of living, and has the second largest capital reserve in the world as well.
So it is quick easy to say that Norway is very rich. But it wasn’t always like this. In the 1950s, Norway was largely a fishing and agricultural nation, and wasn’t anywhere near as wealthy as it is today. But then in the late 1960’s Norway struck oil in the North Sea. They ended up discovering one of the largest oil reserves in the world, and soon began extracting it through a state run company called statoil. The companies purpose was to sell the oil to other countries, and then use those profits to invest back into Norway, its citizens, and a state wealth fund.
And over the course of the next several decades after the oil discovery, norway would surpass the likes Canada, Germany, and even the United States in terms of average wealth of its citizens.
And this example of how oil can rapidly increase the wealth of a country, can be applied to virtually every other country that discovers vast quantities of oil within their borders.
However, there is a difference between how countries handle their new found oil winnings. Norway is the best example of how oil can provide both short term and long term wealth for its citizens. But there are some examples of countries mismanaging their new found oil.
Lets take for example, Venezuala who has the largest proven oil reserve in the world. They were a fairly well-off developing nation in the 2000’s, but they built their economy entirely on oil, without a reserve fund or diversification plan like norway. So when the price of oil dropped by 68% over the course of 72 weeks between 2014 and 2016, that sent Venezuala’s economy into a downward spiral.
And I want you to remember those numbers I just mentioned. A 68% drop over 72 weeks.
Now lets bring that back to today.
You see, about 3 months ago, I was at the gas station and my fill up was around $80, or about $1.32/litre. But then about a week ago, I went to that very same gas station and the cost to fill up was around $48, or about $0.75/litre.
And that is when I knew that something nearly unprecedented had happened to the worlds economy.
You see, over the course of the last 12 weeks, the price of has dropped by 68%.
That is the same price drop that caused Venezuala’s economy to enter a crisis. But the only difference is that this drop took 12 weeks, meanwhile the previous drop was over 72 weeks.
This means that we are going through arguably the sharpest decline of an energy commodity in history. Yet, because of the current news cycle, its not being brought up with the frequency that it should be.
So, how did this drop happen? Well it was a two pronged attack. The first of which was the demand for oil began to dry up when the worldwide lockdowns started happening. Think about this. roughly 2 thirds of all oil that is extracted from the ground goes into transportation vehicles such as cars, boats, trucks and planes. But now, there has been over a 90 percent reduction in overall travel since the outbreak, Meaning that people aren’t filling up their cars at the gas station as much, and the same applies to boats, trucks, and planes. And as we all know from basic economics, as soon as the demand for a product drops off a cliff. Transcript too long. Ending here.
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We just passed 100k subscribers 4 minutes ago (might not be updated publicly yet). But thank you guys so much! You have no idea how happy I am!!!
@khanjaane9446
4 жыл бұрын
Jack Chapple i just subscribed you recently..your content is is so informative,in coming days please enrich us with real figures and statistics in your videos unlike other channels who are just making fools gullible people for merely few likes .
@klarion
4 жыл бұрын
I noticed. Good for you.
@mmmfun77
4 жыл бұрын
I'm one of them! ❤❤❤
@elijahgarcia5504
4 жыл бұрын
Of course youre!
@NightDocs
4 жыл бұрын
I found you just hours ago at like 90k. Holy shit congratulations dude. Great informative content and it’s really awesome to see the natural rewards coming your way. Much love.
When I was 13, I was told we'd be out of oil within 10 years. When I was twenty, I was told we'd be out of oil within ten years. When I was thirty I was told.. yep, we'd be out of oil within 10 years. I'm 67 now and we have never had so much oil... What utter bollocks.
@theboxofhotpockets5592
3 жыл бұрын
Controlled rationing...that’s how the controllers control...
@livingladolcevita7318
3 жыл бұрын
it's not about supply just the lack of demand, and when we all go more to electric the demand will decrease.
@johnmurphy9550
3 жыл бұрын
@@livingladolcevita7318 when 'we go all electric', they'll be using even more oil because nobody has developed the magic wand that produces electricity from nothing. 'Renewables' aren't ever going to replace oil, coal and gas, it will require nuclear fusion or some other as yet not discovered method to do so. Pretty much the only reason the electricity supply keeps up now is because of more efficient lighting etc & there's not many more savings available.
@crystalsanders4334
3 жыл бұрын
That is cause Rockefeller who is from the Illuminati, and owns Standard oil company. Rockefeller said oil is fossil fuel. He lied it is a recurring mineral. He said it is fossil fuel, so he can raise price on gasoline, under the guise that fossil fuel can run out.
@jean-rochdion4898
3 жыл бұрын
yup....and for a double price ( close To triple). happy new years to you and your family! from a fellow Vet.👊
Can we take a moment to appreciate the effort of this guy in picking good clips for the video?
@mansoryO
4 жыл бұрын
ok
@treyjarvis6116
4 жыл бұрын
Il take a moment ladz
@pettermillar4158
4 жыл бұрын
@Ronald McFondle Madonna is not actress.
@signalfire6
4 жыл бұрын
Gorgeous photography.
@Rotisseriechicken1200
4 жыл бұрын
There's a website where you can buy 10-30 second videos. I'm sure that's where he gets them. I forgot the name of the site though.
This video was made 7 months ago, and our fuel prices have climbed nonstop since January. They are the highest I have seen since I moved here three years ago.
@jacobwells9207
2 жыл бұрын
You can thank Biden for canning the Keystone XL Pipeline project for that. A project Trump started to lower gas prices in America and make us less dependent on foreign oil
@Num6er47
2 жыл бұрын
Let's go Brandon!
@DJW1959Aus
2 жыл бұрын
You mean 19 months ago.
@iHasaComputer
2 жыл бұрын
Still climbing. 5$ a gallon
@titirititiri6360
2 жыл бұрын
@@jacobwells9207 it’s most logical to use other countries oil first, and save ours for a stock pile reserve
Norway is the exception. In most poor countries where oil is discovered, a few connected to the regime get fantastically rich while 99.999% of the population is worse off than they were before.
@unclesam1002
2 жыл бұрын
This is what we call new reset once upon a time two countries did that NORWAY AND LIBYA NOW EVERY country WEALTH BACK TO THE PEOPLE
Retired, introvert, just waiting for it to warm up enough to take the boat out and go fishing.
@katewizer2736
3 жыл бұрын
Sounds like a plan 👍
@jungsomewhat
3 жыл бұрын
ha ha me too..
@maestrulgamer9695
3 жыл бұрын
Congratulations,now you don't need to give a s#it about what happens in the rest of the world!
@rickpicone9751
3 жыл бұрын
@@maestrulgamer9695 Been that way all my life.
@markusbuergi4600
3 жыл бұрын
Either is not for everyone ... just do not miss that Third Adam, will you? In case you feel tempted to post a snazzy reply, you're in good company: it is the way of the world, after all.
Jack's Back! Thanks, Jack, for everything I never needed to know - but was forced to find out. How fragile the economy it. Amazing production - and a wonderfully educational presentation. Thank you.
The practical brilliance that underpins every piece of your work is sobering and awe-inspiring Jack.
The old saying stands true: Don,t put all your eggs in one basket.
@crand20033
4 жыл бұрын
You have to if that's all you have.
@davemwangi05
4 жыл бұрын
I did exactly that.
@jago09
4 жыл бұрын
yup. destined for disaster. But i think those oild rich cities, states will survive this
@robintumman1527
4 жыл бұрын
Dear Rick, I don't have any eggs, can you give me some please? Robin (France)
@catnhat1117
4 жыл бұрын
Another timely saying is "An ounce of prevention is worth a pound of cure".
....get ready everyone this is just the beginning..
@aaronnbroussard3108
4 жыл бұрын
WHAT ELSE 🤔😏
@bobbyamandaflores4470
4 жыл бұрын
Yes these are just the first phases , mans steps towards the tribulation
@jamiebutler1762
4 жыл бұрын
All we need now is a major natural disaster somewhere in the world to really set this powder keg off.
@faridajaj6126
4 жыл бұрын
wrong .......thiss is the tine to make big money place stocks in refinery an oil...........
@byranpierce5967
4 жыл бұрын
3 days of darkness coming, global reset
Well that was a short period of cheap. We are back to the high prices.
Your videos are brilliant mate. Well done and keep it up the good work!
Can someone please reload 2020, I believe it's got a virus.
@xeri4697
4 жыл бұрын
Reloading doesnt help with viruses tho
@Glitterrattrap_
4 жыл бұрын
Can we skip to like 2022?
@hatoftricks7132
4 жыл бұрын
@@Glitterrattrap_ but you're dead in 2021
@klacadaver
4 жыл бұрын
@@xeri4697 lmfao 🤣🤣🤣 omg tho
@lmeza1983
4 жыл бұрын
you mean format.
Hi Jack. It’s Sean from SMC. This was well done and super informative. The Smart Money Cafe community is watching . Congrats on crossing 100K subscribers👍🏽
@notafuckinpplperson8233
4 жыл бұрын
Smart Money Cafe who are you?
@RonaldMcPaul
4 жыл бұрын
@@notafuckinpplperson8233 - He has 61 subscribers, show some goddamn respect!!
Thank you for a well made documentary without a leading undertone to control our conclusions.
As the Price of oil goes up the demand will decrease dramatically.
When you mentioned "Ghost Cities" Immediately what came to my mind was Detroit MI, in 09.
My brother was already affected by the oil markets. He was laid off and he has children to feed at home. It's very sad, things are going to get crazier.
@mycologist1372
4 жыл бұрын
Yeah he could’ve gotten into solar energy years ago..
@filesshared9431
4 жыл бұрын
What’s his role?
@bigbrisket4911
4 жыл бұрын
@@filesshared9431 he works on generators
@anemonaloco
4 жыл бұрын
@M T it is not about money, it is about efficiency. public schools don't make money yet are necessary for many people who can't afford a private one. many businesses today are making a profit out of the inefficiency of the system while other businesses might as well create the aforementioned inefficiency for a later profit. today most ideas to improve life are not profitable at all and our financial system is unable to fix it. it is not black and white, there is a lot in between my friend.
@troyrowland7344
4 жыл бұрын
Not all the parents have the luxuries of staying home and homeschooling their kids
When Al gore started global warming he said we will be extinct in 15 years that was about 35 years ago . But ask him how much money he made on this topic
@mrray6983
2 жыл бұрын
Dan Pena said he wished he had come up with that idea before Gore did.
@vallee7966
2 жыл бұрын
May be off by a couple decades, but we are well on our way to making the planet uninhabitable. Killing everything along with ourselves
@fasteddie7997
2 жыл бұрын
@@vallee7966 the problem I have I have been hearing this for decades, and the only problem I see is development of the land
@walterkavanagh9337
2 жыл бұрын
ManBearPig.... I'm serial y'all!
@sour-vampire
2 жыл бұрын
@@vallee7966 do you know what happens if we cut our carbon emissions and produce excessive oxygen, a global cooling called an ice age majority of humans will die.
Albertan here. Thank u for mentioning us and how rough things are here. One correction: Leduc is pronounced Le-Duke. Otherwise, great video.
@d22tetreau
2 жыл бұрын
It's le-duck from now on. Like common, so much better.
@stephenjokela
2 жыл бұрын
Another major error: Leduc #1 has absolutely nothing to do with the oil sands. It was the first of many traditional drilled oil wells which tapped into underground deposits. The oil sands came much later.
@geraldbly4903
2 жыл бұрын
Ledook not Leduck. Otherwise a good video. Oil prices have now climbed back to unprecedented highs. The price drop was only for a short period.
A few months ago I finally got the last of my solar panels installed so I am completely fossil-fuel free and off-grid, and *now* the price of oil *drops.* I’ve always had bad timing...
@rosemma34
4 жыл бұрын
so you did it for the money
@jpe1
4 жыл бұрын
Emma Nation of course money was a consideration. There are other advantages, like not worrying about blackouts, and I do feel a certain satisfaction that I’m making a positive impact on climate change, even if is a very small impact, and perhaps a bit of pride in making my home nicer... hard to quantify how much each piece motivated me. I think that grid independence was a fairly big factor, actually, since it was a 4 day long blackout in the middle of winter that prompted me to look into solar in the first place, and once I saw that the system would pay for itself in 10 years or less I was convinced to do it.
@rosemma34
4 жыл бұрын
@@jpe1 yippie skippie for you, bud, please take care of your neighbors with your overabundance
@srealone788
4 жыл бұрын
I think this time? You finally had good timing. Everyone else who doesn’t have their own energy supply like you? Is gonna end up screwed if the world keeps going the way it is..
@thedevilsadvocate5210
4 жыл бұрын
They will last just long enough for you to figure out how to dispose of your clean solar panels
This is gonna be an interesting chapter in our grandkids' history books.
@GP-wt8eo
4 жыл бұрын
Probably not. It's just one of many many global episodes they will experience...welcome to the new normal. Nothing, I mean nothing surprises me during these times.
@davidsummit9851
4 жыл бұрын
Give a child a silver coin today
@Belovelyava
4 жыл бұрын
If grandkids are allowed
@FazeParticles
4 жыл бұрын
@Samuel Black i don't see the problem?
@Deri_Seh
4 жыл бұрын
Even worse things happened to our grandparents. These things are nothing new. World will always keep changing. Our kids will may even have rather drastical occurences
Very impressive research; very frightening results. Thank-you.
Very interesting & illuminating, (n beautifully illustrated ! ). Thanks.
I REMEMBER WHEN GAS WAS 19 CENTS A GALLON SO IT CAN STILL COME DOWN A LITTLE MORE
@EriPages
4 жыл бұрын
How old are you?
@PrinceCbass
4 жыл бұрын
taxes are more than that now
@proverbs2life
4 жыл бұрын
Cost of living was also 19 cents
@gilbertwoodward75
4 жыл бұрын
Hey, i can remember back then, Remember when they used to pump your gas and wipe your windshield? I'm in Mexico right now, they still do that here.
@jgren4048
4 жыл бұрын
Per liter?
Well done, high class product!
I hadn’t even realised how hard some people are having it, thanks for sharing
I enjoyed learning from your video. Want more! You are good at this - keep it up.
Haha,the oilprice is down by 70% but here we still paying the full price at the gas station, so somewhere they are minting money 😖😡
@wildwilly4266
4 жыл бұрын
Yep- oil goes up 5% next day gas is up 10% - oil drops 70% gas stays the same.
@FinnishArmy
4 жыл бұрын
It is? I just drive electric. 😋 סבתא רבא
@supercarakita945
4 жыл бұрын
It's flooked up here in Alaska, we may as well have the Russian mafia control everything.💀
@supercarakita945
4 жыл бұрын
@Mr. Sarcastic nobody will have money to buy any Tesla shit soon ☠️
@rpgeek22
4 жыл бұрын
It's getting near 1.50 where I am, dont know about you
Venezuela began it's current economic decline long before oil prices dropped. It was Hugo Chavez' economic war on the upper class, his price controls, his seizure of private assets and incompetent management of them that caused massive shortages and loss of faith in the currency. THEN the oil prices dropped.
@htunlin2000
4 жыл бұрын
That Hugo Chavez was a DUFUS and a BULLY! Pickin' on the innocent Upper-Class.
@JohnSmith-fq7hj
4 жыл бұрын
@Wicked Jester well just know bernie sanders wants to do the same but hes gona do it the right way lol
@mototrials582
4 жыл бұрын
Venezuela was destroyed by socialism.
@joyafreeman1751
4 жыл бұрын
Wicked Jester they fuck up everything
@isthisshit4real
4 жыл бұрын
@@mototrials582 - That is NOT socialism. That is a dictatorship.
Worked in the oil industry in ND before the crash. Had a nice life. Made good money and provided good for my family. Lost my job, had to leave and have been struggling ever since.
@larryfoster8820
3 жыл бұрын
Wishing you prosperity
@michaels4255
3 жыл бұрын
The commodities industry is tough. It has always been a boom and bust cycle.
Awesome job Jack. Thank you
I have been screaming about this for 3 weeks. No one gets it. Oil this low will destroy the global economy by itself.
@Lee-rq5eb
4 жыл бұрын
Screaming online? No wonder no1 heard you.
@michaelsclark
4 жыл бұрын
If the prices keep going down will gas stations continue to sell it or will they just stop all together creating a shortage 🤔
@kittylaflamme818
4 жыл бұрын
Maybe the earth might have a chance...In your face Kinder - Morgan No pipeline in Vancouver....boooooooi and boo hoo for you Huge Oil companies...
@Carl6801force
4 жыл бұрын
@@kittylaflamme818 what kind of car do you drive?🤔
@Mrs.LadeyBug
4 жыл бұрын
Alberta’s been screaming for a year or two already. :(
When life switched to hard mode.
@NoLifeGamer1080
4 жыл бұрын
lol when was it in easy mode?
@Greg12839
4 жыл бұрын
Just use the death cheat code
@Churlz
4 жыл бұрын
When was life 'not' in hard mode? lol
@Nerco-Romancer
4 жыл бұрын
When America wasn't as greedy and cared about it's citizens 🤥🤣
@raytracer2651
4 жыл бұрын
Press up up down left left r1 l1 l2 down left up right r3, 😎
You've just got yourself a new subscriber.
"We’ve seen many crazy things in the last few weeks" So innocent...
We talk about this every day. The price of fuel keeps dropping and we can't take advantage of it because no one can go anywhere
@DonCatherman
4 жыл бұрын
I was just saying that very statement today....can't use my boat, race car , RV... everything is closed....but I do take the hot rod out now n then..the race car just sits there all depressed.... cleaned my boat for what I'm not sure...and filed up the RV since gas is so cheap...but again I'm not going anywhere right now. Can't.....it's the law now,,stay home or go to jail.. wtf is all this really about...one can only imagine....
@michellegriffiths8955
4 жыл бұрын
Thats the plan re-set everything every 100 or so years dont you think the people in the know all the CEO that left there jobs last year they know i think the people in the know the elites some counties govt etc look at the EU giving SA millions of pounds we all know it wont be for the people why would they get money when its a rich country its so in our faces we just dont see it
@michellegriffiths8955
4 жыл бұрын
@@DonCatherman it a re-set and the govts the top 5 know it is just think 100 or so years ago it happened all planed . 5G roll out virus people dieing same thing ww1 spanish flu radio waves
@DonCatherman
4 жыл бұрын
@@michellegriffiths8955 I was checking out Black swan comming....look at that,,,,it's on KZread...check it out... makes sense....this is not going back to normal...well the normal we knew...this is a mass population reduction... anyone left will be forced in to poverty...look up population control...we did not react we have been complacent for way too long..the movie contagant ,, i am legend and so on was the precursor we missed... ignored ,, how ever you want to see it...I always said watching these movies, this is what's going to happen...and low and behold..it is happening right now... before our eyes.....the new world order is now ..I never thought it would happen in my life time...but here we are....agenda 21...Black swan event 2030... Population reduction by killing us off is happening right now...the goal is to reduce the population....get everyone in to big city's.easy to control..easy to track , fear porn is the easiest way to do it.....get your vaccine your chip it will save you...it's what's best for all. If you do not comply ..you will die,,,,not from a virus...all others will force you to drink the coolaid.....or shoot you...the parinoa will drive everyone mad,,,,you will fear anyone being close to you..in fear they have the virus and will infected you...it's been 90 yrs..see black swan comming.....
@michellegriffiths8955
4 жыл бұрын
@@DonCatherman cheers i'll check that out its like people are wanting the army in they just dont see the big picture ie common purpose
Looks like your channel is having a boom of it's own :)
Thanks for a well-researched and very informative video.
I actually really did enjoy this video. I didn't think I would based on the background music usually reserved for videos with annoying top 10 list consperacy theory type videos, but this video was really great, so thank you!! :D
As this isn’t enough, there is something else. This feels off to me. It is a distraction for something bigger. Believe it or not.
@helenwilks4304
4 жыл бұрын
Linda Campbell I agree Linda. I keep having the feeling we don’t know the full story about what is going on
@stackedhippiechick
4 жыл бұрын
Don't be surprised when the media and the globalists use the virus event as the end all excuse for why the economic system is breaking down. Certainly, the disruption of the supply chain will be the final nail in the coffin of the Everything Bubble, but the central banks killed the economy years ago by feeding the largest debt bonanza in history, addicting companies and markets to easy cash and then cutting that liquidity just enough to cause the system to go into convulsions. Currently, corporate debt, consumer debt and national debt are all at historic highs. There is no stimulus measure that can fix this problem - at the most the central banks could prolong the inevitable for another year perhaps, but why would they when they have multiple scapegoats to blame the crash on?
@tonykari5124
4 жыл бұрын
@@stackedhippiechick Bravo, finally someone sane and on point.
@Suge212
4 жыл бұрын
Been feeling and saying the same thing for 2 months. Something is totally off about all of this.
@StoneCoolds
4 жыл бұрын
Yep, i think the same, it all looks like a big circus to hide something really big and bad
I never took economics but I’ve learned a few things in my life... 1. Don’t get accustomed to low gas prices because they won’t stay that way. 2. You can talk about “green energy” all you want but at the end of the day you’ll be pulling into a gas station to fill your tank.
@Tailspin80
4 жыл бұрын
Not if you’ve got a Tesla.
@keithlynch3169
4 жыл бұрын
@@Tailspin80 What fuels a Tesla? Power stations fuelled by fossil fuels or nuclear energy.
@letsgorangers5264
4 жыл бұрын
Tailspin80, I know, and believe me, I think that pickup truck they debuted is bad-ass!!, but we’re a long, long way away from electric cars being the norm and gas-burners being the exception. And I’ll never get rid of my Wrangler so I’ll always have to rely on gas.
@Dude-Smellmyhelmet
4 жыл бұрын
@@keithlynch3169 True but that can change. Electricity can come from a variety of methods. Gasoline cant.
@turningpoint4238
4 жыл бұрын
@@keithlynch3169 It's changing quickly.
Excellent information and perspective. Thank you! Sharing....
Good Job!!! Enjoyed the video!
I work at a hotel in Red Deer, Alberta, and yes, I can confirm that the oil and gas sector is hurting for sure. It's not just people who are directly hired in that industry that will hurt, but also the business that serve them, hospitality being one of them. We are considering moving out of this city, but not quite sure where too.
@scanjet1000
4 жыл бұрын
O shit I used to live there ahha
@henryderymacneil1707
4 жыл бұрын
Montreal has a booming economy and a relatively cheap cost of living... but you would have to learn french
@loulfw2513
4 жыл бұрын
@@henryderymacneil1707 and put up with the racism and anglophobia, although the STM has gotten better at getting people around. Do not take the car!
@danboate2780
4 жыл бұрын
@@henryderymacneil1707 not for long, Quebec is funded by tax dollars, and the bilingualism industry, meaning the rest of Canada pays for their right to speak it.
@henryderymacneil1707
4 жыл бұрын
angloo 1959 what tf. I’ve never experienced any anti Anglo sentiment lol.
Its about time, is my feeling on this. The oil industry stuck it to us in the middle of one of the worst economic down turns in Amercan history. The housing
Very well produced video. Very informative.
Good work bro. Love the channel
"That sent Venzuela's economy into a downward spiral" Emperor Lemon: "OOF"
Yes gasoline should only cost a $1.00 a gallon. But governments do their best to prop up the price. Before you start shouting I don't know nothing. I'm third generation oil brat from Texas.
@investingthelike111
4 жыл бұрын
yer then they use the money to build roads, hospitals and bail out oil companies in times like these.
@Sinn3246
4 жыл бұрын
YOU KNOW NOTHING FREDRICK ROURK!
@mullcrumthesage6303
4 жыл бұрын
It's also heavily taxed..at least in California.
@louislschulte7596
4 жыл бұрын
As
Very informative! And trueful!
Great editing, dude👍
Yep, when the second wave of lay offs started at ATCO I knew things were not good. I went through 4 years of lay offs then after 15 years working for them I was laid off. The executives talked about the expected slow down for years but they kept hiring and building new buildings like it was never going to end. I thought I had a future in this company thinking that electricity was the future.
My grandpa always said..."it all comes down to gas and oil Veronica, remember that."😆
@fufufu418
4 жыл бұрын
And money and greed
@CarFreeSegnitz
4 жыл бұрын
Let me guess... your name is Sam.
@valenachristopher3596
4 жыл бұрын
I wonder why
@cheetyliciousmeowmeow1085
4 жыл бұрын
@@CarFreeSegnitz my picture says I'm a girl....but Sam..I get it😀lolol I'm not an Uncle either.lolol
@justinnix1347
3 жыл бұрын
It all comes down to suppressing technology and information to keep cheap, unlimited energy from being mass released to the public. We are going to need a new word because humanity is beyond sin. The vast majority anyway.
It is a great observation Jack! However the burning question right now is how can the oil dependent countries and corporation would diversify and ensure their prosperity? Becuse end of oil economy is inevitable. The more challenging question would be how can oil companies survive?
OnPoint love the information thank you.
I've just been assuming that they're covering up something really bad this whole time.
@upinoyatbp.5165
4 жыл бұрын
Financial currency reset worldwide.
@chriszablocki2460
4 жыл бұрын
Whatever it is, I'd appreciate if they'd turn the library and gym back on.
@lebeckchris
4 жыл бұрын
I don't think the virus is causing the flu! I think it's the 5G that they are installing world wide right now. The radiation sickness is the same as the covid-19 symptoms. A doctor just came out and said he is seeing the same symptoms as altitude sickness. Wuhan turn the 5g on fully then the breakout happened. People have done a corona virus map where breakouts have occured, and layed it over a 5g tower map and they match up exactly!
@AlamBarzakh99
4 жыл бұрын
JACKinURbox do you have a link of the map, Thanks
@benson0002
4 жыл бұрын
i dont think so we have no 5g towers or for that matter no 5g internet anywhere in our part of the country and we still have the covic 19 virus going around so i think that conspiracy theory is a flop..
Much to be said for the old adage "don't put all your eggs in one basket"
@joannetolond5782
4 жыл бұрын
or all your oil in one bucket!
@Merseyrock
3 жыл бұрын
Yeah. As in the examples of Norway and Venezuela, in the video: Where the first one used the oil to diversify, while the second one went all in...
Thanks for the information.
The overproduction has been going on for several years now. Anything lower than $50 a barrel for crude oil stops many of the capital spending projects. Which cause me to be laid off numerous times during the past 15 years. Lost my home and now downsized into another property I was fortunate enough to have. Needless to say this "perfect storm" is much worse with a barrel of crude in the teens. Large capital projects have been put on hold or cancelled putting many out of work with no light at the end of the tunnel.
.
@sleepingrabbit4011
4 жыл бұрын
Sorry to be such a downer but for myself no more traveling just staycations I'll create my own in my home and back yard . It's safer that way!
@Jhartun
4 жыл бұрын
😂😂😂😂
@dennismadigan2023
4 жыл бұрын
rabbit I've always been a staycation person.
@questioneverything8301
4 жыл бұрын
And yet the virus is so deadly it could kill everyone in the world and they are still trying to sell oil who to?
@northeastbirdsmore2281
4 жыл бұрын
It's no coincidence
This is such a huge deal and yeah no one is talking about it. its crazy
Excellent compilation
lol. "the outbreak". That's comedy gold.
Norway!!! Why couldn’t our own Australian govt., invest the SELLOFFS, back into OUR country??
@loulfw2513
4 жыл бұрын
Why doesn't your country DEMAND the extradition of Julian Assange, who is being tortured in prison for committing journalism?
@FZ-TAS
4 жыл бұрын
Because our parasite politicians sold off all our mining leases to offshore companies! She'll be right mate, grab a beer and watch the footie. Oh, and keep voting Labour or Liberal and she'll be right mate.
@richardpickersgill3434
4 жыл бұрын
Australia was sold with the LIMA agreement in the 70's. we are a company, and continue to get screwed over. The voters are sheep like in canada
@sibiria519
4 жыл бұрын
...at last we don't need to explain the fires , rains and other disasters in Australia and everywhere else;):))! you got your answers. thanks to all)))))
@RC-hm9vg
4 жыл бұрын
Because Australia is terrible to work with. Too much bureaucracy!
The Environment must be having a big breather at the moment. Let’s try and give Earth some more fresh air. 👌
@keithadams812
4 жыл бұрын
I hope you remember this post when you grow up... And giggle and think of how stupid you were and how you have brainwashed
@DrumToTheBassWoop
4 жыл бұрын
keithadams812 I can’t see how I would have a giggle ? If I was wrong great 👍
I have been watching a lot of videos regarding geopolitics but for now you are the best 🙏🙏🙏🙏🙏
I feel like Alberta finally got called out for our problem with diversification. A problem which the populous of Alberta has been telling the provincial government to fix for years now.
@kotyd123
2 жыл бұрын
One way or another we will use the oil for products and fuel. Just depends who prospers from it. Why are we setting ourselves to failure when we can make ourselves beneficial in both oil and gas and also the environment. Politics destroyed the Alberta economy while countries like Norway handle it properly
Does anyone else remember gas rationing in the U.S. in the 1970’s?
@josephwebster9817
4 жыл бұрын
yes
@crforfreedom7407
4 жыл бұрын
Yep. The first time Americans realized they weren't all-powerful, all self-sufficient. For the first time, we realized we were vulnerable and dependent on foreign enemies for our existence and prosperity. Sobering as hell.....
@speakingout6345
4 жыл бұрын
GTW turns out there’s enough oil to turn the pumps on high 50 yrs later, smh
@samuelsanchez4885
4 жыл бұрын
GTW oh yeah I remember those days...long lines and here in Cali we odd days and even days to get ⛽️ gas
@johnlennon4958
4 жыл бұрын
Ohh yea
The situation with Venezuela sounds like Hawaii where I grew up - they're basing their whole economy on tourism because it's "clean" (it's not, really) and now they're in trouble. They need to aim for self-sufficiency in food production at least.
@daddyeyez740
4 жыл бұрын
@Dream Theory stop lying man. Just stop lying.
@awsumbry
4 жыл бұрын
@Slippery Slope Yes very much so. But a great point to realize is how the resources of a country is used; is it used to lift up the country as a whole, or just to make super rich a very small group. Dictatorship can work wonders, IF you have a leader that is respectable and cares about the people a lot more than money. We can all see it if we look, our leaders do not lead, they do what they are told from the higher ups and dont make better the country their lead. It also helps if you can have security keep the jackels from assassinating you for not playing ball with their corporate sponsors.
@litesp
4 жыл бұрын
@@awsumbry Any government that spends money from its natural resources to benefit its own citicizens if instantly an enemy of western governments.
@micheltrumbach1718
4 жыл бұрын
Don't worry my fellow beings our beloved divided states of america will soon be a full functioning socialist country. Welcome to hell!!🤮
Sisters moved mom away from the farm and stole younger bother's inheritance of an old shut in oil well that they knew was being considered for fracking. They sold the farm and kept the mineral interest. Now they are holding an empty bag. Lil bro studied the stock market and is doing well and sleeps very well.
I was in Alberta working in the oilfield from 2013-2016. They hadn't recovered from the 2013 crisis so this is more or less the end of Canadian-owned Canadian oil extraction. Look for US companies to buy up what's left of our oil industry and wages and working conditions to continue to plummet.
I just can't imagine the collapse of the economic oil system in Latin America, because in these countries we quickly find out many cracks on their economic structures. At this time of globalization in countries like Mexico or Venezuela there are decadent oil and economic infraestructures. In economical or politic terms, in developing or backward countries there will be huge systematic crisis in the next couple of months like in the rest of the world, but this mentioned area is specially vulnerable!!!
@robertquinn8210
4 жыл бұрын
OK, you're a talker (or typer) and I'm an American who doesn't know shit. Cracks on economic structures? What do you mean? Is the Brazilian economy based on Energy/Oil reserves? This is information I can not easily access. Yes, the sky is falling, but why do you think this mentioned area is ESpeciably vulnerable? (Aside from being a bot.)
@Albert4H
4 жыл бұрын
@@robertquinn8210 I think that the awkward phrasing in Luis Carlos Garcia Gonzalez's post is possibly just a translation problem. As to why Latin America might be especially vulnerable is because of the speed and "economic density" of the oil economy. Until recently the relatively large amount of money has allowed for epic mismanagement and still allowed benefits to accrue to the general population. As the amount of money suddenly shrinks it exposes all the graft and corruption. Think of the collapses of Argentina and Venezuela only magnified by the size of the area affected.
big oil has been ripping us off for decades, this is b-e-a-utiful. Some would say this is karma, others would say, what goes around, comes around.
@danielleh7112
4 жыл бұрын
Yeh, to me it's not really cheap $1.88 per gallon around Nashville. At this price big oil still can report a profitable first quarter of 8 billion. I don't see them hurting at all.
@gusgus7850
4 жыл бұрын
@@danielleh7112 got gas for 1.39 a gallon in ft worth TX
@GallowayJesse
4 жыл бұрын
It's just simple cause and effect
@furrrankkk3980
4 жыл бұрын
3.29 /gallon in California
@furrrankkk3980
4 жыл бұрын
So stop whining
Great YOuTube post, very informative. Also, how come the oil prices are still super high in Australia?
Leduc # 1 was a conventional oil well and was located just outside of Edmonton, Alberta (the Capital). The oil sands are located about 450 Km(300 milles) northeast of Edmonton . The oil here is very hard to extract and therefore far more expensive to get out of the ground.
Man now rests precariously on the teetering house of cards he has created for himself. I feel a light breeze coming on.
@johndowe9251
4 жыл бұрын
Presage to the storm
@planbmindset9475
4 жыл бұрын
Well said
@GERAH717
4 жыл бұрын
🤘
@thinkmackay8954
4 жыл бұрын
It is called-- Life! Life has always been teetering on the brink, and occasionally, it slips!
@maytons
4 жыл бұрын
@@thinkmackay8954 Which is why it's existed for billions of years?
Environmentalists: We need to cut oil production to save the environment. Covid-19: You got it!
@whirled_peas
4 жыл бұрын
@DT Undercover whooa dude have some consideration you might blow someone's mind with that take
@DilbeardAlbeard
4 жыл бұрын
@DT Undercover You never know. Since you mentioned 'what if', and we're all stranded in lock-down, you can spend sometime tonl read/watch nonsensical accuses of Event 201, Bill Gayes connection to Monsanto, Bayer, Jeffrey Epstein, Ted Talk Bill Gayes depopulation, Agenda 21/30. I find all these videos to be fascinatingly outlandish. But fun to watch at the same time.
@sandragambrel9721
4 жыл бұрын
Be careful what you wish for.
@christopherkleinbach5237
4 жыл бұрын
Pre planed fail safe by our government in an attempt to save our species.😱
@MB-oi2em
4 жыл бұрын
Mother Nature will always eventually have her way.
That was well explained. I didn't realize the competition between Russia and Saudi Arabia created the cheap oil prices.
Let's hope this will be enough to persuade bigger traditional energy companies to shift their main focus on renewable and localized energy production. I am getting excited as somebody that studied resource economics.
I'm doing my part. I drink a gallon of crude oil every day.
@grantkruse1812
4 жыл бұрын
Yeah, but that's only worth 5 bucks Amer. right now...Cheaper than water. Open up the pipelines to water and Native Americans will support it...
@ronaldoh6825
4 жыл бұрын
Toxic crusader
@ReturnToSender1313
4 жыл бұрын
peeing diesel or petrol? You selling?
@beavinator420
4 жыл бұрын
@@grantkruse1812 we dont really need people we need a decrease in pollution and people
@eternaldragonwood
4 жыл бұрын
@@beavinator420 Sadly true
....one good thing about it, gives mother earth a break from pollution :)
@BumpyRyder
4 жыл бұрын
not much...
The fact that Venezuela went full socialist may be a more significant factor in it's economic collapse than the price of oil.
@rcschmidt668
2 жыл бұрын
The video swept that under the rug really fast.
@KnightTemplar1000
2 жыл бұрын
@Ralf "Of course extreme socialism killed our economy". That's what I said.
👌😁.. excellent presentation...!!!..
I'm sure the CEOs of all those companies will get bailed out while the citizens literally starve that's how these things work idk why we don't revolt
@audioaddict420
4 жыл бұрын
@jim coulter wow your really smart aren't you
Leduc is just south of Edmonton, nowhere near the oil sands. It was a drilled well.
@dshepard3161
4 жыл бұрын
Also not pronounced "La Duck", more like The Duke, Le Duke. And our oil and gas downturn started back in 2016 with the election of Castro's bastard.
Found this a year and a half late... in retrospect it's just another "doom and gloom" forecast as I fill up for the equivalent of close to $150/ Litre. Not too many oil execs whining at the moment.
@jp9332
2 жыл бұрын
Keep in mind, the higher the price the larger taxation rate for the government's. I refer to it, as lazy greed.
Many thanks.
These oil companies have made billions of dollars over decades, how can they fold in a mere 12 weeks. Guess they should have saved better!
@ankitnautiyal2568
4 жыл бұрын
Exactly my thoughts. I dont have much idea about economics, but its like the profit these companies make is not stored as cash. But might be reinvested in the business. Say I can produce 100 units for 100$ and made a whooping 50$. Out of this 10$ i paid as dividend to share holders and another 10$ to buy my own stock, that will raise the value of my stock. 10$ I used to increase the capacity so that I sell even more. And remaining 14.99$ I keep as cash reserve. 1 cent for the generous bonus for my hardworking employees. Now if due to some reason, my sales go low, and only 10 units were sold. There is no way I can sustain my business for longer 14.99 $ will not cover for long. I can sell my shares but no body is buying Because first my business is not that attractive any more secondly people dont have any cash around to invest. This is if the business is more or less honest. Corrupt companies might have other things too.
@SameBasicRiff
4 жыл бұрын
LOL more like these governments have been taking enough how they have to go TRILLIONS into debt instead of themselves having a few months for bad times is more insane, it's their job!!
@cynthiaayers7696
4 жыл бұрын
@@SameBasicRiff that's one of the longest sentences I've read in a while.
@SameBasicRiff
4 жыл бұрын
@@cynthiaayers7696 this aint an essay grandma. put a period before "how" and deal with it.
@cynthiaayers7696
4 жыл бұрын
@@SameBasicRiff bite me, you deal with it, and write better next time. Or are you in a big hurry for something boy.
"Le-duke" not "Le-duck" hahahah
Alberta here. Dude, Jack. This is my second video. I'm only 2 mins in and I KNOW you're Canadian. My new friend front the Middle East has made me all too aware of my accent lately. 🤣
@avxfy8246
3 жыл бұрын
Waddupgirl
Yes, I worked at a pipe mill that manufactured pipe for the energy industry. They laid us off in the fall of 2019 and haven't called us back to work.
This is what my husband does, so I’m praying that he won’t be out of a job, along with so many other people. 🙏🏻
@youngmo77
4 жыл бұрын
You may want to start checking alternative Jobs now...
@thedevilsadvocate5210
4 жыл бұрын
What about the strippers how can we help the poor strippers
@monkeywrenchgreaser
4 жыл бұрын
Sorry, adapt and overcome
World: Covid 19 oh noooooo shutdownnn stop moving guys!!! Everyone: Damn Oil so cheap but useless now lol. Me: *Getting too much Oil from Oil Pumps in ARK: Survival Evolved*
I remember hearing about this issue at a podcast and I just couldn’t hold the laugh realizing how petty saudi arabia is
@federalreservebrown2507
3 жыл бұрын
exactly
Oil needs to be back to $50-60 a barrel for most refiners to break even these days. Though most of the majors have made very deep cuts to their operational costs, also a lot of the loses can be offset by downstream chemical operations and also trading Oil futures on the open market if they have very savoy traders working for them.
No petrol being purchased despite its lowered price means less (a lot less) taxes being put into the system. Which will add even more burden on the economy.
@BumpyRyder
4 жыл бұрын
finally, someone with some sense...
I grew up in the 70s and 80s. We had an oil crisis back in the 70s, It's something out of the "TWILIGHT ZONE"! One must retool there thinking on how they do things. (Think outside of the Box). Everyone "B" safe, a prayer or two doesn't hurt either.
@kevinleblanc4697
4 жыл бұрын
Maybe praying doesn't hurt but it doesn't help either. Its kind of like doing a rain dance to solve a drought. It can provide hope but not help. I would only suggest the useless waste their time praying
There's so much going on this year, and because everything is intertwined much more than it used to be, it is affecting everything. Oil doesn't just go to fuel for vehicles. Clothing, plastics, electronics, paints, medications, etc. Almost every aspect of our lives have the results of oil in it. Right now might be a good time to get fuel preservative, and stock up on fuel. For those that have the room, and ability.
Informative video