October 2, 2007 (LPAC)--Ernest Ronald Oxburgh, former chairman of Shell Oil, a Knight of the British Empire, issued a stark warning in a Sept. 17 interview with the Independent of London, that the price of oil could hit between $100 and $150 per barrel. In this environment, he asserted, investment in prohibitively expensive alternative fuels would be appropriate.

Lord Oxburgh's remarks exposes that supply and demand have nothing to do with the price of oil's surging three fold over the past four years to more than $82 per barrel.

During the recent years, Lyndon LaRouche has indicated that the price of oil should be in the range of $25 to $27 per barrel. Wars and hot spots would likely add only $5 to $10 to the per barrel price. Rather, the Weimar-style hyperinflation unleashed by the wall of money bail-out policy pursued by the U.S. Federal Reserve, the Bank of England, and the world's central banks, is the overriding force creating a hyperbolic growth in the price of oil, and many physical commodities. Reinforcing this spike, is the work of hedge funds, oil companies and other speculators, trading futures and options derivatives contracts, at the London-based International Petroleum Exchange, and the New York Mercantile Exchange.

However, once oil's price is so high, then, Lord Oxburgh, and the British Crown's Royal Dutch Shell assert, alternative fuels, such as ethanol and bio-diesel, could at least become profitable. "And once you see oil prices in excess of $100 or $150 a barrel," Oxburgh told the Independent, "the alternatives simply become more attractive on price ground if no others." Oxburgh, who is a fanatical supporter of global warming, heads D1 Oils, a firm that produces "bio"-diesel.

Lord Oxburgh's positioning at Shell is no accident. Shell has crafted the environmentalist movement and manipulation of oil prices for decades. The London-based International Petroleum Exchange is the headquarters for the use of derivatives-contracts to manipulate the oil price. Since 1999, IPE's chairman has been Sir Robert Reid, who had served as chairman of Shell U.K. Ltd, from 1985 through 1990, after a career at that company.