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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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Indonesia, Malaysia Look to Biodiesel Amid High Oil Prices
Hydrocarbon AlternativesM&C News - Faced with soaring oil prices, Indonesia and Malaysia are turning to biodiesel, a fuel that cuts regular diesel with vegetable oil, to reduce emissions and costly subsidies.

Indonesia has long searched for ways to reduce air pollution in Jakarta, one of the dirtiest cities in the world, and the government last month introduced biodiesel at petrol stations in the capital.

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Posted on Thursday, June 29 @ 23:52:51 PDT by Carrie
 
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