Sunday, March 12, 2006

World Oil's Corrupt Control

According to Robert Baer (former CIA), "five extended dysfunctional families own about 60 percent of the world's oil reserves..."

A back of the envelope calculation puts the value of this at $100 trillion (assuming $50 a barrel oil.) By way of comparison, that amounts to about 9 years of U.S. total economic output.

This fact suggests a degree of political and economic power that is barely imaginable.

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