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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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U.S. Growth Crimped By Oil
Business News; Market Research
GDP — the volume of all goods and services produced by the economy — rose to $10.9 trillion after adjusting for inflation. Before inflation, GDP grew at a 5.1 percent annual pace to $11.8 trillion. The economy expanded 3.9 percent during the 12 months that ended in September.

NY Post
Posted on Saturday, October 30 @ 13:55:43 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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