Oil Trouble

http://www.zerohedge.com/article/did-wikileaks-confirm-peak-oil-saudi-said-have-overstated-crude-oil-reserves-300-billion-bar

I have no doubt this is probably true. Not a shocker that Saudi Arabia would do this. Of course we in America have no one to blame but ourselves. We all should be driving cars that have no need for oil by now. It is ridiculous that 42 years ago we could send a man to the moon but yet we are still dependent on oil. Of course oil companies for years haev been buying up patents and green technology. Some don't believe this but it is true. Below is just a few examples. Greed as usual has cost us dearly and will only lead to more trouble, mainly wars!

http://www.ev1.org/chevron.htm

More info below from http://findarticles.com/p/articles/mi_m1374/is_5_60/ai_65133031/

"By the late 1970s, oil companies had bought out many of the patents for photovoltaic cells, and corporate giants like Atlantic Richfield, Amoco, Exxon, and Mobil took control of solar power companies. This trend would lead Alfred Dougherty, former director of the Federal Trade Commission's bureau of competition to warn, "If the oil companies control substantial amounts of substitute fuels ... they may slow the pace of production of alternative fuels in order to protect the value of their oil and gas reserves." Edwin Rothschild, a spokesperson for the Citizen Energy Labor Coalition, was concerned that the big oil companies "see solar power as a competing source of energy, and they want to control it and slow it down." However, ownership of solar technology by big oil was only the first step in the methodical dismantling of the alternative energy renaissance.

The Reagan administration would continue the squeeze on alternative energy as tax credits for residential investment in solar and wind power became "obsolete," as it was deemed to be "the responsibility of the private sector to develop and introduce new solar technologies." The $684 million requested by Carter for alternative energy in fiscal 1982 was slashed to $83 million in Reagan's 1983 proposal."