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it takes to make something produce.

How much energy do you get back

for how much energy you invested.

When oil was seeping out of the ground in Pennsylvania,

you got a return of, I don't know, 200 to 1.

When you have to go offshore,

to deep water,

drilling in 15,000 feet of water,

uhm, and your first well costs

that's being invested to get energy.

And the moment you start burning more energy

to get a barrel of oil out of the ground

than it's worth,

forget about it.

The world's been thoroughly explored

over the last 120 years,

there's no new major oil finds left.

As a matter of fact, no field the size of Guar,

the largest field in Saudi Arabia,

has ever been discovered since.

Saudi Arabia has 25% of the known

oil reserves on the planet.

Twenty-five percent.

Why, if Saudi Arabia has all these

untapped reserves on shore,

are they moving into offshore drilling?

Now, if it's 5, 10, 50 times more expensive

to drill offshore than on land,

doesn't that tell you that Saudi Arabia

knows they've got no more oil to find?

It's axiomatic that if Saudi Arabia

has passed its peak and is in decline,

the whole planet is, just because of

the size of the reserves that are there.

Iraq is oil that's not only accessible,

it's right close to the Persian Gulf,

which means it's a short distance to ships.

They can put the pipelines,

they can get that into the global supply stream.

As everything else declines.

And Iraq was all about the oil. You know,

a lot of people have admitted that and like 'duh'.

Eleven days after 9/11,

when there was no clear evidence that

Saddam Hussein had anything to do with 9/11,

of course he didn't,

that the plans were started to invade Iraq.

Of course!

That was the objective.

Get control of that oil.

Because Saddam Hussein had been talking about

pricing his oil in Euros, taking it away from the dollar.

We got in there, we restructured everything,

we put in a friendly government,

using the US dollar,

and we assured the oil companies their quote on quote

fair access and fair share of Iraqi oil.

We have no intention of leaving Iraq.

We're never gonna leave Iraq.

Going back to 2004, we started building the largest,

most permanent military bases, three of them, in the world,

plus the largest embassy compound

that's ever been built.

We built an embassy compound in Bagdad

that's bigger than Vatican City.

That's not a temporary deal.

Nobody's gonna take that oil,

we're sitting on it.

But there's not enough oil in Iraq

to change anything.

But Iraq probably has around

That sounds like a lot of oil.

But when you consider that in 2008,

the world was consuming 85 million in barrels a day,

that means a billion barrels of oil only lasts

for about 11 and a half days.

So that ain't that much oil.

They knew exactly what was coming.

That's what's in the National Energy

Policy Development Group report

that's been classified, because

if that report got declassified,

we would be building scaffolds to hang

Dick Cheney and everbody

in that administration tomorrow.

Let's assume just for the sake of discussion

that there's 600 billion barrels in the arctic.

First of all, it happens to be under the polar ice cap.

That's a problem.

The polar ice cap happens to be on,

what, 10,000 - 15,000 feet of water.

The problem with the polar ice cap is,

it floats, it moves.

So you can't drill a well on tuesday.

and expect it to be in the same place on thursday.

That's why a lot of conservative

think tanks and oil companies,

are cheering the melting of the polar ice caps.

If there is oil in A.N.W.R.,

there's no more

than about a six month supply

for the entire United States.

There are no pipelines across the thousand miles

of tundra that's melting

due to global warming,

which means you can't sink

pipes to support a pipeline

in tundra that's turned to mud.

There's no tanker routes,

the wells aren't drilled and yet we are spending

our future as if that oil is there.

We gotta drop all this lying right now.

We don't need transparancy about

anything other than how much oil is really left,

because we don't know.

Oil is a commodity, it's an asset.

You make loans based

upon what's in the ground.

So you have all these accounting terms.

Possible reserves, proven reserves,

ultimately recoverable reserves.

Verified reserves, estimated reserves...

But, actual reserve estimates are state secrets.

The Saudi's don't dare announce that they've

passed their peak of oil production. Why?

They have a very restive population,

that have been sold an expectation of a

rising standard of living and the moment

Saudi Arabia acknowledges it's passed peak

it may well have a revolution.

Now what happens if there's a revolution in Saudi Arabia,

with 25% of the world's known oil,

where is that oil gonna get replaced from?

It can't be.

Very complex problem.

It's a very complex situation.

Just start working now, otherwise we won't have time.

They're gonna be out of oil within a few years.

And doing this sort of pulling archive

of footage for this film,

I found at least 10 examples of people

in the late seventies,

talking about this is the end of oil.

This is like end of the way of life,

we're hitting a new era.

This situation is destined to continue.

People look at that footage and I think that

they can feel that it's somewhat alarmist,

given that we were able to continue

our way of life for another 35 years.

Do you see any parallels

between that time and now?

The seventies was really a critical decade.

In the seventies, Marion King Hubbert,

the original prophet of peak oil,

in late 1949, he did the math

that said US domestic oil production

will peak in 1970.

So that's not some feat of Nostradamus

communicating with some entity.

It's math, it's science.

It's simple.

But in the seventies, M. King Hubbert

testified before congress,

that was 1974.

In 1976, Jimmy Carter said,

man, we cannot use as much energy

as we have been using.

That's when solar panels went up, that's when-

he knew- they had known in Washington...

I have published on my website,

as have others,

declassified CIA documents from 1976,

showing that CIA was perfectly

aware of peak oil.

In those days, of course,

when the situation appeared to be normal,

when people had jobs, they had vacations,

they had credit cards, they had

credit lines, everybody's talking about

growth buy, spend, consume,

and everything seemed to be working.

Yeah, we were called alarmists.

We don't live in that world anymore.

Americans were on the way to

owning millions of cars.

on the planet.

They all run on oil.

It takes uncounted barrels of oil,

to make those cars and engines

in the first place.

And you cannot plug any new technology into

an internal combustion powered engine.

With 7 gallons of oil in every tire,

nobody will ever make

because there ain't gonna be enough oil.

Ethanol is an absolute

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