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Hoarding is exactly what the government is doing right now by filling the SPR, and frankly it's the best thing that could happen. It drives prices up. High prices encourage demand destruction. They also finance new well development. The hoarded oil gives us a buffer to fall back on once shortages become more prevalent. High prices are what we need in order to adapt to what's coming, and the sooner they happen, the better.

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The future's a gas

Guest writes: From the Economist:

"It has become fashionable to claim that the world is running out of oil and gas. Several alarmist books have just been released, ranging from “The End of Oil” to “Out of Gas”, claiming that the hydrocarbon age is drawing to a close. To the doomsday crowd, the spike in natural gas prices is permanent, the result of scarcity."

economist

Posted on Tuesday, August 31 @ 06:43:50 PDT by aaron

Most read story about Production; Extraction; Exploration:
Does Thermal Depolymerization Solve the Problem of Peak Oil?

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