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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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Consumer, Environmental Fury Kicks Off Exxon Meeting
Public Policy; Political and Legal NewsSimmering consumer fury over soaring gasoline prices and angst over Exxon Mobil Corp.'s environmental policies converged on a Dallas symphony hall on Wednesday as the company kicked off its annual shareholders' meeting. A normally raucous affair teeming with protesters, angry shareholders and police officers, Exxon's meeting has drawn more attention than usual this year. About 60 protesters stood outside the meeting hall in downtown Dallas, beating drums and chanting slogans like, "Exxon gets rich while US soldiers die" and "No planet, no dividends."


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Posted on Wednesday, May 31 @ 20:52:04 PDT by Waegari
 
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ARE We Out of Gas Yet?
 
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