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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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India's energy shortage
Consumption; Demand; Prices

Major power shortages in India's capital have again put the spotlight on long-term issues that the country has yet to deal with in terms of ensuring energy for everyone.

The Indian Ministry of Power says the country faces an average energy shortage of about 8 percent and a peak shortage of about 12 percent -- reflected in power cuts nationwide. The capital itself faces a shortage of 100 megawatts.

World Peace Herald

Posted on Wednesday, May 31 @ 02:36:33 PDT by waegari
 
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