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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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US Air Force to test alternative jet fuel blend
Production; Extraction; ExplorationLater this year, a giant U.S. Air Force B-52 bomber will take off with a new kind of jet fuel that can be derived from coal or natural gas, setting the stage for the U.S. military to eventually burn a new formula that is not derived from crude oil. In September, a B-52 Stratofortress will fly from Edwards Air Force Base in California with two of its eight engines burning a mix of half oil-derived JP8 fuel and half a clean-burning alternative made from natural gas. The U.S. military's foray into the alternate fuel market could spell relief for U.S. commercial airlines who have seen their fuel bills double since 2001.


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Posted on Friday, June 30 @ 21:28:59 PDT by Waegari
 
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Does Thermal Depolymerization Solve the Problem of Peak Oil?

 
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