Dr. Jerome Corsi, co-author of Black Gold Stanglehold: The Myth of Scarcity and the Politics of Oil, says he believes in the abiotic theory for the origin of oil -- which asserts oil is a natural product the earth generates constantly rather than a fossil fuel derived from decaying ancient forests and dead dinosaurs.
Corsi says a recent article in Science Magazine cites a University of Washington study that supports that contention. But he argues that oil companies want consumers to continue to think oil is a fossil fuel and is being used up.
"Let's have the oil companies start telling the truth about oil -- that it is abiotic, that it's plentifully available," demands Corsi. "Let's have them build more refineries and let's get more supply into the system, so we don't have to pay these exorbitant prices that are completely unjustified."
And the journalist claims there is another little secret the oil companies do not want people to know. "The oil companies fund the environmentalists. They're both on the same side of wanting to restrict supply," he adds. "When the oil companies are able to make hundreds of billions of dollars in profit, they're not going to come along and tell the American people that oil is abundant, that we are never going to run out of it, that we're finding increasing resources."
According to Corsi, the Energy Information Administration says there are in fact 1.4-trillion barrels of oil worldwide, despite the fact that consumption has doubled since 1970.
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