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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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Wall Street Jounal mentions US oil peak
Business News; Market ResearchSuch writes: Today's Wall Street Journal publishes an inflation adjusted historical graph of oil prices going back to 1970, in a story "Refinery Slowdowns May Push U.S. Heating-Oil Prices Higher". The caption on the graph states:

1970 U.S. oil output peaks and begins a long decline

http://online.wsj.com/documents/WSJ_Oilprices_102604.pdf
Posted on Wednesday, October 27 @ 15:05:10 PDT by aaron
 
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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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