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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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Worldwide push for wind power whips up huge currents
Hydrocarbon AlternativesAt the end of 2005, the world's nations had added some 11,300 megawatts (MW) of installed wind power capacity, reaching 59,000 MW (59 Gigawatts/GW), according to the World Wind Energy Association (WWEA) based in Bonn, Germany. Europe continues to be the heavyweight in the wind power field, with a total of 40.9 GW installed capacity or 69 per cent of the world total, followed by America (US, Canada, Mexico) at just over 10 GW and Asia at 7.02 GW.


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Posted on Friday, June 30 @ 01:06:18 PDT by Waegari
 
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