Claims About Oil Scarcity, Rockefeller and Fossil Fuels

It is the second most prevalent liquid on Earth.

Puttin' a price on oil is like puttin' a price on a pail of water, you know?

The, the, no, no initial cost. It's in the ground.

And, and in those days, they were, some of it almost what you'd call surface mining the oil.

They didn't go down deep. So in order to get the price up, they hit on the idea that they would have to make it appear to be scarce, that the, that, "Boy, n- after we take the next few barrels out, we're probably gonna have to close this well," you know, that kinda thing.

By a very fortuitous event, in 1892, there was a convention in Geneva of, of scientists to determine what organic substances are.

At this Geneva convention, Rockefeller took advantage of sending some scientists over.

They defined oil as a, a residue from formerly living matter.

Well, that makes it a fossil fuel. I don't know why they decided to use the word fossil, but it says formerly living matter.

It's fossil. And another thing we should know is that there has never been a fossil, a real fossil, found below 16,000 feet.

We mine oil, or we, we drill for oil, at 30,000, 33,000, 28,000 every day of the week.

So right there, we rule it out that it isn't fossil fuel.

It's called fossil fuel for the minds of the public to feel that it is, uh, uh, an asset that is running out, being depleted.

We talk about depletion allowance, which is a lot of... you know.

And actually, if you know the world's oil supply, you know that it is not gonna run out for an awfully long time.

What bothers me is that, that in geology books, it's in there.

The geologists say it's a fossil fuel, that they've somehow they've been bought to create a world price for oil.

In other words, not, uh, 30 cents a gallon here and 90 cents a gallon there, but let's get a world price.

That's their goal.