David Gibbs: The Coming Energy Shock - Similar to 1973 Oil Crisis?

They charge me 37% tax on my income, I like my money to be spend in America like Healthcare, Affordability, housing etc.. I dont want my money be spent in wars for Israel...♠︎

Prof Diesen sets the bar for being an excellent host, consistently great guests, intelligent questions and space given for thoughtful responses.

We're in deep shit. I lived through the 1973 debacle.

Interesting to hear that American elites have always been treacherous to the country’s interests.

This guy is definitely a professor. Stopping to ask for any questions. Great guest and a breath of fresh air.

I graduated high school in 1973, there were some long lines at gas stations.

The professor missed the main reason why the US wanted higher oil prices in 1973, and that was that $2.50/bbl oil prices were too low to support the petrodollar. Nixon had shut the gold window in 1971 and the plan was for oil to be the new anchor for USD. But to support the petrodollar the market cap of the global oil market had to be much higher than it was. To achieve this oil prices had to be raised at least ten fold. The higher oil prices also meant the arabs would have more money to recycle back into the US bond and equity markets.

War Is a Racket.

I was a young Deputy Sheriff in 1973. There were a number of gas stations on my beat, and because of restrictions only certain vehicles could get gas on certain days. It created one heck of an enforcement issue. People become quite resourceful figuring out ways to get around those rules. On top of that the gas lines were blocks long and tempers were running short. One one occasion a woman cut into the line near the front almost causing a riot. The guy behind her was furious and took the locking gas cap off his vehicle and put it on hers.. after dropping the key down her gas tank. Just one of many incidents that occurred during that crazy time period.

Yet the Shah in 1973 was a western puppet - and most of the Iranian revenue for oil sales was into the pockets of western oil companies. Is this yet another example of rinse and repeat , destroy an economy intentionally to gain more control ?