“Putting a price on oil is like putting a price on a pail of water, no initial cost, that’s in the ground. 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.
“[Fortuitously] in 1892 there was a convention in Geneva of scientists to determine what organic substances are. Well, the definition of organic is a substance with hydrogen, oxygen and carbon. It’s usually a living substance … At this Geneva convention, Rockefeller took advantage of sending some scientists over who said: ‘Oil, petroleum is hydrogen, oxygen and carbon therefore it must be derived from [ ] the rotting of formerly living matter’.
“When the scientific convention was over, they defined oil as the residue from formerly living matter. Well, that makes it a ‘fossil fuel’.
“There has never been a fossil, a real fossil, found below sixteen thousand feet … We drill for oil at thirty thousand, thirty three thousand, twenty eight thousand, 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 an asset that is running out [and] being depleted.
“If you know the world’s oil supply, you know that it is not going to run out for an awfully long time. It is the second most prevalent liquid on Earth.”....<<<Read More>>>...
