Oil And Bible Prophecy by Todd Strandberg

Oil prices are nearing all-time highs. The news of faster-than-expected economic growth had light, sweet crude for September trading at $77.02 a barrel on the New York Mercantile Exchange. The price was a penny shy of the highest-ever settlement price for a front-month contract that was set July 14, 2006. As troubling as the short-term price of oil has become, the long-term price looks far more menacing.

Jeffrey Currie, a London-based commodity analyst, says $95 crude is likely this year unless OPEC unexpectedly increases production, and declining inventories are raising the chances for $100 oil. Jeff Rubin at CIBC World Markets predicts $100 a barrel as soon as next year.

“We’re only a headline of significance away from $100 oil,” said John Kilduff, an analyst in the New York office of futures broker Man Financial Inc. “The unrelenting pressure of increased demand has left the market a coiled spring.” “New disruptions of Nigerian or Iraqi supplies, or any military strike against Iran , might trigger the rise,” said Kilduff.

Oil prices could triple in three months to more than $200 a barrel, given the right circumstances, according to Matthew Simmons, chairman of Simmons & Co., a Houston investment bank.

We are a long way from 1998-1999 price crash when oil briefly fell below $10 a barrel. It seems hard to imagine that crude is now up 8 fold. In just the past 6 months, this precious commodity has risen 51 percent.

The key reason for the dire predictions is the simple fact that demand is up a million barrels a day. The demand increase is being led by the booming economies of India and China , which means more cars and trucks and more factories that burn oil and gas.

Another area that is putting upward pressure on oil prices is the decline in production on the part of major oil companies. The supply of oil is down by a million barrels a day. Most of the major oil firms reported their earnings last week, and every one of them reported a decline in their ability to bring oil to market:

British Petroleum said oil and gas output fell 5.3 percent to 3.804 million barrels per day in the second quarter of 2007 compared with a year earlier.

Exxon Mobil said the company’s production dipped 1 percent on an oil equivalent basis. It saw the most weakness in fields that produce natural gas.

ConocoPhillips’ daily production for the quarter averaged 1.9 million barrels of oil equivalent per day, down from 2.1 million barrels a day in the year-ago period. The company attributed the decrease to normal field declines, planned maintenance in the North Sea and its exit from Dubai , among other factors.

Occidental Petroleum Corp. said in its latest report the daily oil and natural gas production averaged the equivalent of 583,000 barrels of crude a day during the quarter, down from 609,000 a year ago.

Royal Dutch Shell – Production slipped 2% to 3.18 million barrels of oil equivalent, hurt as violence in Nigeria has halted onshore production, and the country has moved to restrict offshore output to meet OPEC targets. Due to what Shell calls the “security situation,” 195,000 barrels of oil a day were shut in.

Venezuela’s national oil company — a major supplier of fuel to the United States — has seen oil production fall to 2.37 million barrels a day, down from 2.6 million barrels a day a year ago.

Bible prophecy makes no direct mention of oil, but I strongly believe it will be a major catalyst for several key end-time events. Any type of oil shock will draw the world’s focus towards the Middle East.

Original Link

One Response to “Oil And Bible Prophecy by Todd Strandberg”

  1. I just saw the new Bible discovery video about the Bible predictions of 911 and the Iraq war.
    How did they discover this in the Bible? I have seen those passages several times in the Bible and skipped over them because they made no sense. After watching that youtube the lights have turned on brighter than the sun! This is truly a prophecy about Iraq and also 911. There is no question about it. The blogs above actually under-state the power of this discovery.
    Why has this not yet become national news? Is Satan trying to stop this? I almost chickened out from watching the youtube video after feeling a negative pressure telling me that this was a hoax and I should get out quick!
    That negative feeling turned out to be false, had I given in to that pressure and ran away I would not have awakened to
    this marvelous news.
    My heavens, I am feeling chills down my back an hour after watching this. All you bloggers out there please do not take
    offense but everything you are discussing just got dwarfed by something far more enlightening than anything you can possibly imagine! It is like lightening has struck and you slept through it! What ever you do in this life you must see this entire
    youtube.

Leave a Reply

*