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that we're gonna be able

to offset a 9% decline rate.

From a detective stand point,

if you're trying to assemble a case,

you know,

the multidimensional aspects of a case,

means, motive, opportunity,

to understand what kind of force drives events.

Uhm, peak oil was almost with the stroke

of like a diamond cutters knife,

the single piece which started to make everything

resonate and make sense, together.

You will recall that when the Bush

administration took office in January 2001,

a national energy policy development group,

the NEPDG,

was formed and placed under the exclusive, private,

absolute control of vice-president Dick Cheney.

Its records were kept a secret,

its minutes were kept a secret,

seven pages were released as a result of two lawsuits.

And it clearly shows that that taskforce

was looking, saying,

how much oil is there,

where is it, who owns it.

They knew that this was coming for a long time. It's been

know that this event, this collapse, this crash was coming.

Who they were.

We can't even get information

as to who was involved.

First of all, if you think there might be oil someplace,

then what you do,

is you go drill a test well.

Then what you have to do, is to take

that one well in the center and then

you drill a series of appraisal wells around that well

to determine where the oil field might go.

You don't know how much oil you're gonna get,

how deep it is, what kind of oil it's gonna be.

There are many different grades of oils,

a lot of which are more expensive to refine.

So all of that has to do with how long

it takes to make something produce.

How much energy do you get back

for how much energy you invested.

When oil was seeping out of the ground in Pennsylvania,

you got a return of, I don't know, 200 to 1.

When you have to go offshore,

to deep water,

drilling in 15,000 feet of water,

uhm, and your first well costs

that's being invested to get energy.

And the moment you start burning more energy

to get a barrel of oil out of the ground

than it's worth,

forget about it.

The world's been thoroughly explored

over the last 120 years,

there's no new major oil finds left.

As a matter of fact, no field the size of Guar,

the largest field in Saudi Arabia,

has ever been discovered since.

Saudi Arabia has 25% of the known

oil reserves on the planet.

Twenty-five percent.

Why, if Saudi Arabia has all these

untapped reserves on shore,

are they moving into offshore drilling?

Now, if it's 5, 10, 50 times more expensive

to drill offshore than on land,

doesn't that tell you that Saudi Arabia

knows they've got no more oil to find?

It's axiomatic that if Saudi Arabia

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