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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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IMF says expensive energy is here to stay
Consumption; Demand; PricesCarlhole writes: The International Monetary Fund yesterday issued a warning that record oil prices will stunt the growth of the global economy next year and oil prices are likely to remain high for 10 years or more.

Guardian
Posted on Wednesday, September 29 @ 19:20:52 PDT by aaron
 
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Re: IMF says expensive energy is here to stay (Score: 1)
by skeptic31 on Thursday, November 30 @ 20:01:41 PST
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