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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. has complex views on cars, gas prices
Consumption; Demand; PricesAnnounced by the sharp crack of a backfiring engine, the caravan of old Pontiacs and Fords wended their way off the highway and into the gas station-restaurant, arriving, it seemed, from another time.

On a blustery May day, Carl and Frances Barrier's 8-cylinder Pontiac Deluxe, vintage 1940, needed this stop in the Kansas plains to fill up on 87-octane, $2.75 a gallon. In its day, the Pontiac never saw such numbers.


"This was the car we dated in," said Frances, 71, meaning the type of car not the actual vehicle.

The Barriers were on their way to Pioneer Village, an outdoor museum in Minden, Neb., housing early cars, tractors and airplanes. In its prime, their Pontiac traveled 15 miles on a gallon of gas, but now manages only 10.

AP

Posted on Wednesday, May 31 @ 07:57:02 PDT by leanan
 
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