1 - Oil Economy

The Middle East becomes the center of a desperate struggle for oil as demand exceeds supply, prices soar, and industrialized nations fight for economic survival.

The coming crisis in the Middle East is looming. Western civilization would be brought to its knees by a sudden disruption in the supply of oil. Whether by terror, nuclear exchange, or a bidding war for oil – it could happen suddenly and without warning. The world’s need for carbon-based fuel is rapidly approaching the breaking point. The Middle East is the only place where that thirst can be quenched. Alternative fuel for transportation worldwide is ten to twenty years away. If the Middle East is to rise to power, now is its hour of opportunity. If Islamic terrorism is to attain its goals, it must act soon.

Oil futures shot above $140 Thursday, June 26 after OPEC’s president said crude prices could rise well above $150 a barrel this year and Libya said it may cut oil production.

Chakib Khelil, president of the Organization of the Petroleum Exporting Countries, said he believes oil prices could rise to between $150 and $170 a barrel this summer.

Khelil joined a long list of forecasters making frightening price predictions. Each new forecast — like Goldman Sachs’ recent prediction that prices could rise as high as $200 — causes a jump in prices as speculators drive up the price of oil futures.
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The front page headline in the New York Times Sunday, May 27 is "Chaos is Seen in Iraq Exit, But Experts Split on Degree . . . ."

This is a painful time for the American military in Iraq. This month more than 100 American servicemen have already been killed. But all experts agree that a rapid withdrawl of U.S. troops from Iraq will unleash a bloody round of escalating civil conflict–a violent chain reaction that would destroy the Iraqi government.

With the grim prospect of a wave of suicide bomb attacks by Al Queda, Shiite militias launching Read the rest of this entry »

On every side Israel finds itself in much the same situation as last summer . . . only this summer could be worse.

"Israelis Bomb Hamas Targets in Gaza . . . ." Is the headline for a major article in the New York Times this Sunday, May 27.

Although Israel has not yet authorized the use of ground troops in Gaza, the situation is deteriorating. Since May 15 the Israeli Army reports that more than 225 rockets have been launced toward Israel. On Saturday evening alone 12 Qassam rockets were launched.

Since May 17, when Israel increased its air strikes, 47 Palestinians have been killed and 12 compounds Read the rest of this entry »

In near simultaneous visits, Vice President Cheney and Iranian President Mahmoud Ahmadinejad toured the energy rich Gulf Arab states. Both leaders visited Abu Dhabi in the United Arab Emirates. VP Cheney was working to shore up U.S. support in the region with these longtime allies. He also visited Saudi Arabia, Egypt, and Jordan.

Ahmadinejad, on the other hand, has stepped up efforts to pry the Gulf states away from their longstanding U.S. alliance and bring them into the Iranian orbit of influence. Ahmadinejad is taking full advantage of the unpopular Iraq War and making every attempt to woo the Emirates, Oman and other Gulf states over to his side. There’s growing fear in these states that they’re going to be caught in the crossfire of a U.S.—Iran conflict.

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The giant which was described as "sleeping" just a few decades ago is not only awake, it’s on the prowl. China, with a population of 1.3 billion souls, is making a growing impact on the world economy.

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Terrorists are determined to hit America again. But the next time may be a hit in the pocketbook. A big hit. An attack against the fragile oil lifeline that extends tens of thousands of miles from the U.S. to the Persian Gulf. Terrorists know that any serious disruption of world supply will send the U.S. economy into full cardiac arrest. It would bring us to our knees. And that’s precisely what the terrorists want to do.

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I want to laugh every time I hear some supposed expert say that the Bible is an antiquated, irrelevant book. I wonder if they’ve pumped any gas lately?

It’s no accident that the bulk of world oil reserves are smack in the middle of miles of sand controlled by Israel’s archenemies.

Whether it’s high prices at the pump, Iran’s nuclear threat to Israel, or the latest terrorist bomb in Baghdad, the Bible is again at the center of the world’s action Read the rest of this entry »

Tyndale’s brand new release Armageddon, Oil and Terror is an exciting update and revision of John Walvoord’s bestselling classic Armageddon, Oil and the Middle East Crisis. The book predicts that Iraq will be the world’s next great oil producer. It states:

As the oil reserves of other nations are being drained by millions of barrels a day, Iraq’s vast reserves are hardly being touched. Iraq’s huge oil reserves are sitting on the sidelines in the world’s scramble for energy. In the next decade, as Iraq’s oil potential is explored and ready to come on line, Iraq could be poised to emerge as the oil giant.

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The cover article of U.S. News and World Report (2/12/07) shows a gas station nozzle in the middle of a cornfield. The title on the cover says, "Special Report: Overselling Ethanol For All the Hype is it Really the Answer?"

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