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Although Bilderberg 2005 was missing one of its luminaries— US State Department official John Bolton, who was testifying before the Senate Committee on Foreign Relations—the US Government was well represented in Rottach-Egern by: Allan E. Hubbard, Assistant to the President for Economic Policy and director of the National Economic Council; William Luti, Deputy Under-Secretary of Defense; James Wolfensohn, outgoing presi- dent of the World Bank; and Paul Wolfowitz, Deputy Secretary of State, an ideologue of the Iraq war and incoming president of the World Bank. By attending the Bilderberg 2005 meeting, these people broke United States federal law. Although Bilderberg 2005 was missing one of its luminaries— During cocktails one afternoon, a European Bilderberger noted US State Department official John Bolton, who was testifying that there is no plausible alternative to hydrocarbon energy. One before the Senate Committee on Foreign Relations—the US American insider stated that currently the world uses between Government was well represented in Rottach-Egern by: Allan E. four and six barrels of oil for every new barrel it finds, and that Hubbard, Assistant to the President for Economic Policy and the prospects for a short-term breakthrough are slim at best. This director of the National Economic Council; William Luti, Deputy confirms a public statement made in 2003 by IHS Energy, the Under-Secretary of Defense; James Wolfensohn, outgoing presi- world's most respected consulting firm cataloguing oil reserves dent of the World Bank; and Paul Wolfowitz, Deputy Secretary of and discoveries, that for the first time since the 1920s there was State, an ideologue of the Iraq war and incoming president of the not a single discovery of an oil field in excess of 500 million World Bank. By attending the Bilderberg 2005 meeting, these barrels. people broke United States federal law. One invitee asked for an estimate of the world's accessible con- ventional oil supply. The amount was quoted at approximately Journalistic Whores one trillion barrels. As a side note of interest, the planet con- Bilderberg, at one time or another, has had representatives of all sumes a billion (1,000,000,000) barrels of oil every 11.5 days. major US and European newspapers and network news outlets Another Bilderberger asked about the hydrogen alternative to oil. attend. High-ranking membes of the inadequately named "inter- The US Government official agreed gloomily that hydrogen's sal- national free press" attend on their vation of the world's imminent energy solemn promise to report nothing. This crisis is a fantasy. is how Bilderberg keeps its news black- At the 2005 Bilderberg conference, out virtua’y complete in the United Bilderberg, at one time Hed we industry was represented by: ‘ates and Europe. ohn Browne, chief executive officer o! This year's invitees included: or another, has had BP; Sir John Kerr, director of Royal Nicolas Beytout, editor-in-chief of Le representatives of all major Dutch/Shell; Peter D. Sutherland, Figaro; Oscar Bronner, publisher and chairman of BP; and Jeroen van der editor of Der Standard; Donald US and European Veer, chairman of the committee of Graham, chairman of the Washington newspapers and network managing directors at Royal Dutch/ Post; Matthias Nass, deputy editor of Shell. (Queen Beatrix of The Die Zeit; Norman Pearlstine, editor-in- news outlets attend. Netherlands, Royal Dutch/Shell's chief of Time; J. Robert S. Prichard, principal shareholder, is a fully fledged president and CEO of Torstar Media member of the Bilderbergers. Her Group (Toronto Star); Ciineyt Ulsevere, father, Prince Bernhard, was one of the columnist for Hiirriyet; John Vinocur, senior correspondent for founders of the group back in 1954.) the International Herald Tribune; Martin Wolf, associate editor of It should be noted that in late 2003, oil and gas giant Royal the Financial Times; Fareed Zakaria, editor of Newsweek Dutch/Shell announced it had overstated its reserves by as much International; Klaus Zumwinkel, chairman of Deutsche Post; and as 20 per cent; in early 2004 it reduced its estimated oil and gas John Micklethwait, US editor of The Economist and Adrian reserves by about 4.5 billion barrels, but in October had to apply Wooldridge, Washington correspondent for The Economist. an additional cut of 1.15 billion barrels in reserve estimates. In Micklethwait and Wooldridge acted as the meeting's rapporteurs. fact, Shell's three cuts in reserve estimates prompted the resigna- tion of its co-chairman. The Los Angeles Times (18 January Declining Energy Reserves and Economic Downturn 2005) reported: "For petroleum firms, reserves amount to nothing Of course, discussion at Bilderberg 2005 turned to oil. An less than 'the value of the company'." American Bilderberger expressed concern over the sky-rocketing At Rottach-Egern in May 2005, the industry's top executives oil price. One oil industry insider at the meeting remarked that tried to figure out how to keep the truth about diminishing oil growth is not possible without energy, and that according to all reserves from reaching the public. Public knowledge of the indicators the world's energy supply is coming to an end much diminishing reserves directly translates into lower share prices faster than the world leaders have anticipated. which could destroy financial markets, leading to a collapse of the According to sources, Bilderbergers estimate the extractable world economy. world's oil supply will last a maximum of 35 years under current An American Bilderberger wondered what it would take for the economic development and population. However, one of the rep- oil price to go back to US$25 a barrel. Another American resentatives of an oil cartel remarked that they must factor into the Bilderberger, believed to be Allan Hubbard, laconically stated that equation the population explosion and economic growth as well the general public does not realise that the price for cheap oil can as demand for oil in China and India. Under the revised condi- be the bursting of the debt bubble. Cheap oil slows economic tions, there is apparently only enough oil to last for 20 years. No growth because it depresses commodity prices and reduces world oil spells the end of the world's financial system—which has liquidity. already been acknowledged by the Wall Street Journal and the There is a strong indication, based on the information reported Financial Times, two newspapers that are regularly represented at from the Bilderberg 2005 meeting in Rottach-Egern, that the US the annual Bilderberg conference. The conclusion: expect a Federal Reserve is extremely concerned about the debt bubble. severe downturn in the world's economy over the next two years One American Bilderberger reported that if the price of oil were as Bilderbergers try to safeguard the remaining oil supply by tak- to go down to its previous low of $25 a barrel, the debt-driven ing money out of people's hands. In a recession or, at worst, a asset bubble would explode. Martin S. Feldstein, president of the depression, the population will be forced to dramatically cut down National Bureau of Economic Research, added that $50 a barrel their spending habits, thus ensuring a longer supply of oil to the involves greater cash flow. world's rich as they try to figure out what to do. According to publicly available information, the United States Bilderberg, at one time or another, has had US and European — newspapers and network abla. an Declining Energy Reserves and Economic Downturn Of course, discussion at Bilderberg 2005 turned to oil. An American Bilderberger expressed concern over the sky-rocketing oil price. One oil industry insider at the meeting remarked that growth is not possible without energy, and that according to all indicators the world's energy supply is coming to an end much faster than the world leaders have anticipated. According to sources, Bilderbergers estimate the extractable world's oil supply will last a maximum of 35 years under current economic development and population. However, one of the rep- resentatives of an oil cartel remarked that they must factor into the equation the population explosion and economic growth as well as demand for oil in China and India. Under the revised condi- tions, there is apparently only enough oil to last for 20 years. No oil spells the end of the world's financial system—which has already been acknowledged by the Wall Street Journal and the Financial Times, two newspapers that are regularly represented at the annual Bilderberg conference. The conclusion: expect a severe downturn in the world's economy over the next two years as Bilderbergers try to safeguard the remaining oil supply by tak- ing money out of people's hands. In a recession or, at worst, a depression, the population will be forced to dramatically cut down their spending habits, thus ensuring a longer supply of oil to the world's rich as they try to figure out what to do. 14 = NEXUS representatives of all major news outlets attend. www.nexusmagazine.com AUGUST - SEPTEMBER 2005