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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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Public Policy; Political and Legal Newsnero writes: CBC radio had on Linda McQuaig this morning who did a good job in my opinion of covering the issues about how oil factored into the Iraq war. Peak Oil came up and was discussed seriously.


CBC Radio TheCurrent
Posted on Wednesday, September 29 @ 19:04:02 PDT by admin
 
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ARE We Out of Gas Yet?
 
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