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due to global warming,

which means you can't sink

pipes to support a pipeline

in tundra that's turned to mud.

There's no tanker routes,

the wells aren't drilled and yet we are spending

our future as if that oil is there.

We gotta drop all this lying right now.

We don't need transparancy about

anything other than how much oil is really left,

because we don't know.

Oil is a commodity, it's an asset.

You make loans based

upon what's in the ground.

So you have all these accounting terms.

Possible reserves, proven reserves,

ultimately recoverable reserves.

Verified reserves, estimated reserves...

But, actual reserve estimates are state secrets.

The Saudi's don't dare announce that they've

passed their peak of oil production. Why?

They have a very restive population,

that have been sold an expectation of a

rising standard of living and the moment

Saudi Arabia acknowledges it's passed peak

it may well have a revolution.

Now what happens if there's a revolution in Saudi Arabia,

with 25% of the world's known oil,

where is that oil gonna get replaced from?

It can't be.

Very complex problem.

It's a very complex situation.

Just start working now, otherwise we won't have time.

They're gonna be out of oil within a few years.

And doing this sort of pulling archive

of footage for this film,

I found at least 10 examples of people

in the late seventies,

talking about this is the end of oil.

This is like end of the way of life,

we're hitting a new era.

This situation is destined to continue.

People look at that footage and I think that

they can feel that it's somewhat alarmist,

given that we were able to continue

our way of life for another 35 years.

Do you see any parallels

between that time and now?

The seventies was really a critical decade.

In the seventies, Marion King Hubbert,

the original prophet of peak oil,

in late 1949, he did the math

that said US domestic oil production

will peak in 1970.

So that's not some feat of Nostradamus

communicating with some entity.

It's math, it's science.

It's simple.

But in the seventies, M. King Hubbert

testified before congress,

that was 1974.

In 1976, Jimmy Carter said,

man, we cannot use as much energy

as we have been using.

That's when solar panels went up, that's when-

he knew- they had known in Washington...

I have published on my website,

as have others,

declassified CIA documents from 1976,

showing that CIA was perfectly

aware of peak oil.

In those days, of course,

when the situation appeared to be normal,

when people had jobs, they had vacations,

they had credit cards, they had

credit lines, everybody's talking about

growth buy, spend, consume,

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