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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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It's the Crude, Dude: War, Big Oil, and the Fight for the Planet
Public Policy; Political and Legal Newsdwenergyman writes: Webcast of the October 27, 2004 launch of Linda McQuaig's new book at St. Andrews-Wesley church in Vancouver

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Posted on Sunday, October 31 @ 14:22:35 PST by admin
 
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ARE We Out of Gas Yet?
 
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