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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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PEAK OIL: DEBATE OR FEUD?
Geology; Reserves; Oil Fieldsif you extend Hubbert's model of the American petroleum story onto the whole planet, you'll miss the nuances of regional geology. And if you don't, you'll convince yourself that a new motherlode of black gold is just waiting for the right drill from the right team of cowboys.

From the Wilderness
Posted on Tuesday, April 27 @ 21:44:14 PDT by admin
 
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Most read story about Geology; Reserves; Oil Fields:
Peak Oil is a Myth
 
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Re: PEAK OIL: DEBATE OR FEUD? (Score: 1)
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