Oil Continues Steady Climb

On December 16, Lindsey Williams told Alex Jones the price of crude oil will soon hit $150-200 per barrel and this would translate into gas prices in the range of $4-5 per gallon. Williams, an ordained Baptist minister who went to Alaska in 1971 as a missionary, was told about the price increase by insiders in the oil industry he had befriended. Following Williams’ revelation, the price of oil moved up. Crude oil hit $95 a barrel on Monday for the first time in over two years. The most-accurate forecasters in the oil market a year ago are forecasting a second straight year of gains in 2011. Sanford C. Bernstein & Co. says crude will average $90 this year. Natixis Bleichroeder Inc., which tied with Bernstein, sees $100 a barrel, 26 percent higher than in 2010, according to Bloomberg.

“Crude oil prices are up, and people expect them to keep going up,” said Tim Evans, an energy analyst at Citi Futures Perspective in New York. “It speaks to the frame of mind that people are in more than it speaks to the underlying reality. We have no physical tightness here.”
Hedge fundsters and investors are in a frame of mind betting on increasing oil prices. The funds and other large speculators increased net-long positions, or wagers on rising prices, Bloomberg notes.
Oil experts are predicting $3.75 a gallon gas prices. On Christmas Day, the average nationwide price of self-serve regular hit $3 and by year’s end the average price reached $3.06.
“We learned in 2008 that $4-a-gallon gas is a deal-breaker for the economy,” Joel Naroff, president of Naroff Economic Advisors, told USA Today. “If it happens, it’s not sustainable. There’s only so much the consumer will bear.”
In late December, Shell Oil exec John Hofmeister predicted $5 per gallon gas prices within two years. In addition, he warned of shortages and rationing by the end of the decade.
In 2005, according to insiders, oil price increases were plotted by the Bilderbergers. Henry Kissinger told Bilderberg attendees that oil prices would double over the next year.
During their 2006 meeting in Ottawa Canada, Bilderberg agreed to push for $105 a barrel before the end of 2008. This information was gleaned from sources inside Bilderberg who have proven reliable in the past, Paul Joseph Watson wrote on September 17, 2007.
“The global elite are conspiring to send oil prices crashing through the $200 dollar a barrel mark as part of an organized agenda to hike profits, bring about a global economic crash and torpedo the middle class,” Watson added. On Tuesday, oil prices slipped below $90 per barrel. Crude oil for February delivery finished down $2.17, or 2.4%, to $89.38 a barrel, according to NASDAQ.