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War, Oil and Lies:

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Message Mike Folkerth

Good Morning Middle America, your King of Simple News is fired up and on the air.

 

I normally report on economic issues that affect the lives of Middle America, my favorite group of people. But this morning, I want to examine where we are militarily and also touch on oil; again.

 

Let me first say that I am a veteran of the U.S. Navy, I worked on the Alaska Pipeline, I live smack-dab in the middle of oil shale country and I’m writing in Ron Paul on Election Day.

 

I’m hopin’ mad today after sifting through several news items this morning that are blatantly false and/or downright wrong. All liars, regardless of party leanings, are on my radar. Alert reader Billy B. sent me an article written by Newt Gingrich regarding Democrats not wanting to drill for oil right here, right now and free us from foreign dependence. Sure Newt, we believe that. After all, we have forgotten that the Republicans controlled the House, the Senate and the Presidency and failed to drill for oil right here, right now.

 

Ol’ Newt wants to re-enter the limelight so badly that he has become a shill for the Republican Party in his new role of telling sound-bite-lies in hopes of influencing the election and selling his new book.

 

Newt is currently spreading the fable of having more oil reserves in Colorado oil shale than all the oil ever produced in Saudi Arabia. And that the Democrats won't let us produce that oil.

This is a true story. Well, part of a true story, but as Paul Harvey would say, “this is the rest of the story.” We can’t get the oil out of the shale, I know, that’s a picky detail but one I thought was worth mentioning.

 

I have written several detailed articles about oil shale. There is no viable proven method to extract shale oil. Oil companies and researchers have been trying to perfect a method since the early 1970s at a cost of billions of dollars. Not to mention, oil from shale is synthetic and makes poor gasoline.

And finally, no one is keeping the producers from making oil from shale. Shell has a massive ongoing test project 80 miles from my home. In a recent meeting, Shell stated that it would be at least 10 years before we would see production…if the process works!!

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Mike Folkerth is the author of "The Biggest Lie Ever Believed" and is not your run-of-the-mill author of finance and economics. The former real estate broker, developer, private real estate fund manager, auctioneer, Alaskan bush pilot, (more...)
 
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