An American Bilderberger expressed concern over the skyrocketing price of oil. One oil industry insider at the meeting remarked that growth is not possible without energy and that, according to all indicators, the world's energy supply is coming to an end much faster than the world leaders have anticipated. According to sources, Bilderbergers estimate the extractable world's oil supply to be at a maximum of 35 years under current economic development and population. However, one of the representatives of an oil cartel remarked that we must factor into the equation, both the population explosion and economic growth and demand for oil in China and India. Under the revised conditions, there is apparently only enough oil to last for 20 years. No oil spells the end of the world's financial system. So much has already been acknowledged by The Wall Street Journal and the Financial Times, two periodicals who are regularly present at the annual Bilderberg conference.
Conclusion: Expect a severe downturn in the world's economy over the next two years as Bilderbergers try to safeguard the remaining oil supply by taking money out of people's hands. In a recession or, at worst, a depression, the population will be forced to dramatically cut down their spending habits, thus ensuring a longer supply of oil to the world's rich as they try to figure out what to do.
During the afternoon cocktail, European Bilderberger noted that there is no plausible alternative to hydrocarbon energy. One American insider stated that currently the world uses between four and six barrels of oil for every new barrel it finds and that the prospects for a short-term breakthrough are slim, at best.
Someone asked for an estimate of the world´s accessible conventional oil supply. The amount was quoted at approximately one trillion barrels. As a side note of interest, the planet consumes a billion barrels of oil every 11.5 days.
Another Bilderberger asked about hydrogen alternative to the oil supply. The US government official agreed, gloomily, that hydrogen salvation to the world´s imminent energy crisis is a fantasy.
This confirms public statement made in 2003 by HIS, the world´s most respected consulting firm cataloguing oil reserves and discoveries, that for the first time since the 1920s there was not a single discovery of an oil field in excess of 500 million barrels.
The oil industry at the 2005 Bilderberg conference was represented by John Browne, BP´s chief executive officer; John Kerr, director Royal Dutch Shell; Peter D. Sutherland, BP chairman and Jeroen van der Veer, chairman of the Committee of Managing Directors of Royal Dutch Shell.
It should be remembered that in late 2003, oil giant Royal Dutch Shell, announced that it had overstated its reserved by as much as 20 percent. Queen Beatrix of Holland, Royal Dutch Shell´s principal shareholder is a full-fledged member of the Bilderbergers. Her father, prince Bernhard was one of the founders of the group back in 1954. The Los Angeles Times reported that "For petroleum firms, reserves amount to nothing less than ´the value of the company.'" In fact, Shell cut its reserve estimates not once, but three times, prompting the resignation of its co-chairman. At Rottach-Egern, in May 2005, industry's top executives tried to figure out how to keep the truth about diminishing oil reserves from reaching the public. Public knowledge of the diminishing reserves directly translates into lower share prices, which could destroy financial markets, leading to a collapse of the world economy."
I had to print this part of the article. Bold emphasis is mine.
Like others, I sometimes think what is going to happen is that things will happen in a negative-loop cycle. In other words, oil demand will outstrip supply, prices will go higher for everything petroleum-related (which is almost everything), this will cause a downturn in the economy and our quality of life will decline slowly. This will make it a 'slow burn' more or less because at that point a slowed economy will decrease demand for petroleum products (except heating and cooling of which we'll be spending more on and not able to spend on less important things), and the decreased demand will give the illusion that petroleum will last much longer and that there is no crisis. Therefore, we will not be (as a population) inclined to search for other alternatives or renewables. Hence, CRASH! When? That's hard to predict. There's no question in my mind as to IF it will happen. The debate entails WHEN and HOW. There are so many variables. Killer viruses. Nuclear threats. Housing bubbles. Climate changes. I feel so very sorry for the children growing up today. We're going to hit some rough ground. Maybe they can turn it around. I still have hope.