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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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Is there life after $50 a barrel?
Business News; Market Research
"The number one issue facing the customer today is, in fact, energy prices," said Lee Scott, chief executive officer of Wal-Mart Stores, at an analyst conference earlier this month.

Seattle Times
Posted on Wednesday, September 29 @ 05:01:27 PDT by admin
 
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Most read story about Business News; Market Research:
OPEC IS NO LONGER ABLE TO CONTAIN OIL PRICES
 
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