The Oil Card – What’s Next?

“Strange, strange are the dynamics of oil and the ways of oilmen.” ~ Thomas Pynchon, Gravity’s Rainbow

By Catherine Austin Fitts

Oil is down 23% year to date – most of that fall has been in the last three months.

What does it mean? There are many variables at play – new supplies coming on line, global economy slowing, better economics for renewables and the integration of information technology globally. What about our old friend the Oil Card?

With exploration moving into the Arctic, the US faces the possibility that Russia could surpass the US in reserves controlled. We know from our recent interview with Anne Williamson, that the US and allies were successful in the 1990’s asserting greater control and ownership of Russian oil reserves and production capacity by particularly brutal means after successfully playing the Oil Card – manipulating the oil price lower to accelerate the collapse of the Soviet Union.

With Putin leading an effort to reassert sovereignty, including control of Russian oil and commodities, is the Oil Card game switching from checkmating China with a high price to bringing the Russians to heal with falling prices?

Veteran report Jim Norman returns to the Solari Report to discuss what is next for the Oil Card. If you have not read Jim’s book The Oil Card it is one of our top picks for understanding the global economy and the world around you.

I will cover the latest in financial markets in Money and Markets and why British Prime Minister Cameron’s comments after the latest G-20 meeting combined with recent announcements about British sex scandals add up to a new warning signal for the financial system. In Let’s Go to the Movies, I will review the documentary The Prize: The Epic Quest for Oil, Money & Power.

Talk to you Thursday!


  1. Catherine

    As I review the link to I find that a bit of fun listening would be for you and Joseph to explain/reminisce (again?) who knew about whose commentary first. Exactly how did you Catherine avoid knowing about this guys body of work…like did you know and not share it years before because you chose not to approach the UFO issue (as described in your Coast interviews?)

    Readers of your blog then were left to drive the introduction? Richard Dolan?

    Both men kind of define a picture of intellect without intellectualism.

    Makes you wonder if ever there was a Calendar of Characters in Academia.

    Also I had occasion once again to share your content with another web personality…I am fairly confident the person
    has listened in full to your speech at BEM in Holland and states they tried to listen a few other times but found you
    “Brutal.” The kicker is that that person is also someone who speaks truth to power. which has two definitions that seem to relate ( :>)

    Harsh; unrelenting
    Disagreeably precise or penetrating.

    So I do not see how your or your guests wisdom becomes common place but I
    surely hold it as a landmark in my own mind.

    Richard Stein

  2. Dear Catherine,

    Thank you for your guest Jim Norman. His insite into oil, economy and current historical is relevant and to the point. This was an outstanding interview. The primary reason I subscribe to Solari is to cut through all the chatter. Well done!


  3. Richard:

    No matter how small, it seems to me there is always a pathway and place for the truth. 🙂

    Tea – thanks! Hope it is warm and safe in Croatia!

    Tod – “cut through” – yes, that is what we are striving to do! Thanks,


  4. Dear Catherine,

    For now it’s both warm and safe, but it seems that this region is increasingly becoming the kind of battle field for Anglo – American alliance vs. Russian bears;-) Just a look at today’s new editions of local business newspapers features numerous articles about that issue and my personal favorite headline goes like this: “Thank you Putin! Americans are coming, they will take care of Croatia.” Needless to say it is huge promotion of American investment in the region, especially given new bids for exploration for gas and oil in Adriatic sea (will US get this deal only to make sure that resources stay in the ground for the future?) and also huge push for Croatia as a NATO and EU member to lead in that direction. There are also presidential elections next month and one of the main candidates is Kolinda Grabar – Kitarovic aka ex Cro ambassador to US aka current NATO Assistant Secretary General for Public Diplomacy. I guess the empire is moving in and given our internal weaknesses and willingness to look up to US and EU without any criteria, only good God can help us at this point… At the same time Russian army is having a joint drill with Serbian army in Serbia, during which they also parachuted armored vehicles from the planes. US army apparently should do similar drill in Serbia this year too. Now I am thinking someone is crazy here, but it might also be just me… Let’s hope and pray for the best.

    Keep warm!

  5. A very, very good interview! It was interesting to hear your opinions that oil prices have much more to do with politics than with supply and demand. Jim Norman also confirmed his opinion on what I’ve been thinking for years now…that the President of the United States does not have top-level security clearance, and he’s left out of the loop on many major subjects and discussions.

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