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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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Kerry: Oil prices show Bush broken promises

Carlhole writes: SPRING GREEN, Wisconsin (AP) -- Democratic Sen. John Kerry said Wednesday the $50 per barrel price of oil reflects a broken promise of President Bush that will hurt average Americans.

Bush said Iraqi oil "would pay for the war, but we know that those oil pipes are being blown up," Kerry said. "We know that $50 a barrel isn't as bad as it might get because analysts are now telling us that the price may go up to $60."

CNN

Posted on Thursday, September 30 @ 13:53:51 PDT by aaron

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ARE We Out of Gas Yet?

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Re: Kerry: Oil prices show Bush broken promises (Score: 1)
by skeptic31 on Thursday, November 30 @ 11:16:26 PST
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