Home Forums Hunting & Shooting Hunter's Campfire Oil War

A few years back, Glenn Beck was telling the story that back in the 70s, there was a push to convert coal to oil the way the Germans did during the war. According to Beck, the Saudis reacted by cutting the price of crude below the level at which the conversion process made sense, thereby killing the competeition.

Sounds like the same crap they're pulling now.

Beck's friend and fellow Mormon, the President of jet Blue, wanted to do the coal to oil bit, but wanted the gummint to guarantee a minimum price to be offset when prices were high. Never heard any more about it.

A side benefit for the Saudis is that low prices limit the cash the Iranians have for their peaceful nuclear program.