I didn't watch the video but I firmly believe that gas prices and the oil market are being manipulated in order to get Americans behind domestic drilling. Most of our oil comes from Canada, not the Middle East, but the "oil crisis" is good for conservative politics. They are building support for domestic drilling as well as keeping us pissed at the Middle East in feeble attempts to maintain support for the ethnic hatred needed to keep the bombs dropping (and Halliburton therefore rebuilding) ...

While you are correct in some ways. I was told we didnt get our oil from overseas, our came from mexico,canada, and other countries but not the middle east. Yes there are taking avantage of us and one way is they have shut down all refarines.

http://www.youtube.com/watch?v=NbakN7SLdbk

Mr. Williams gives an interesting presentation. I don't discount it entirely, as I'm only something of a layman myself in the oil industry. On the other hand, I've read a book by someone with far more experience in the petroleum business. His name is Matt Simmons, and he's author of a book called "Twilight in the Desert". Certain things in Mr. Williams presentation clashed with what I've read from several sources. I'll list his claims below:

The world is in no way running out of Crude Oil

Very true....but the world appears to be running shy on crude oil that has "energy costs" that don't eat up most of what we're pumping out.

There's as much crude in Alaska as there is in Saudi Arabia

This is a tough one to defend. Saudi Arabia's main oilfield, Ghawar, has ultimate recovery calculated at 71 Billion Barrels. And that's just ONE of their oil fields. Prudoe Bay has been estimated to be around 13 Billion. I've looked around for solid estimates of what's in Anwar and other undrilled areas in Alaska....I haven't found any.

Huge oil deposits have been found after drilling 40,000 foot "super deep" oil wells in Russia

Not surprising....but do you know how much energy it takes to pull oil up through a 40,000 foot deep hole? 40,000 feet is somewhere over six miles deep. Kola SG-3 (specifically cited by Williams) was started by the Russians in 1962 for the purpose of penetrating the earth's crust and drilling into the mantle. Actual drilling didn't even begin until 1970. It took 24 years for the Russians to drill to that depth, after which the project was abandoned in 1994 due to unforeseen and unsurmountable obstacles. Furthermore, I didn't see any mention of oil being found during the drilling of SG-3.

1 Billion cubic feet of Natural Gas is pumped back into the Earth every day

I don't know about the 1 Bcf figure, but pumping gas back into oil wells is something that must be done to maintain the output of an oil well. The discussion of it is beyond the scope of this posting, but it's explained in detail in Matt Simmons Book.

In 12 months, gasoline could be $1.50 gal..

Whoa. I have a hard time with this. I've read in the stated book and elsewhere that this isn't likely to be true. Numerous sources have stated that once the decision is made to drill an oil field, it takes a minimum of three to five years to bring it on-line.

Is there a conspiracy? Perhaps. But my research gives strong evidence that Lindsay Williams doesn't have some of his facts straight.

If anyone has insights into this situation, I'd welcome reading about them. Information on this topic (when I can find it) is usually spotty, inconsistent, and incomplete.

Very good. It shows we are not out of oil and have abundance.

No one will ever take your comments seriously by making a statement saying our country supports ethnic hatred and drops bombs in order to enrich Halliburton. I do wonder why we send billions of dollars for oil each year to countries that hate us when we could drill our own oil here at home and enrich our country as we now enrich the Arab states. We have vast quantities of oil right here that the Democrats keep off limits. Who then is really supporting the Middle East tyrants?