[MichaelRyan23]

I read this online...
I was wondering if anyone thought there could be any truth in this...

"Yes, Peak Oil is coming - not so much because the supply has really peaked, but because the manipulated supply is peaking. The U.S. is withholding vast Arctic and offshore resources in order to keep an ace in the hole for the coming war. . . . There has been a conspiracy to restrict refining capacity and buy out the little guys to cap supply - and that isn't likely to change in our lifetime. We're stuck with these powerful controlling forces, and will be - thanks to a dumbed-down electorate - until it's too late to do anything about it."

Joel Skousen, www.WorldAffairsBrief.com, 10/21/2005.

[rockdoc123]

That seems like a tinfoil hat argument. The government opened up the NPRA to exploration ...it is just ANWR that remains in moritorium. If the government had it's way that would be open too. As to the offshore...the only area that hasn't been open is the east coast and I believe that even the USGS resource estimate is not stellar there.
Large companies have been buying up smaller companies....not to remove competition but to replace reserves. Any CEO who was caught sitting on undrilled prospective lands for any length of time would be promptly ousted by the board and shareholders.
Basically a bunch of crap.

[peaker_2005]

That a war is coming? Yeah. Otherwise, no. We're pretty much there by the looks of things.

[truecougarblue]

Correction on the moratorium, coastal california is also currently off limits to new rigs and has been for 20+ years.