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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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German Gasoline and Diesel Consumption to Drop Combined 25% by 2025
Consumption; Demand; PricesIn its just-released annual forecast to the German petroleum industry, the MWV (the Association of the German Petroleum Industry: Mineralölwirtschaftsverband), estimates that domestic consumption of gasoline and diesel will drop a combined 25.4% from 54.9 million tonnes of fuel consumed in 2004 to 39.6 million tonnes in 2025.


greencarcongress
Posted on Friday, June 30 @ 20:47:32 PDT by Waegari
 
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