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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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Reserves review forces Shell to postpone AGM
Business News; Market Research2007 writes: Shell said on Friday that it had decided to postpone its annual general meeting by two months amid continued disruption caused by the oil giant’s review of its proved oil and gas reserves.

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Posted on Friday, November 26 @ 03:56:38 PST by aaron
 
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OPEC IS NO LONGER ABLE TO CONTAIN OIL PRICES
 
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Re: Reserves review forces Shell to postpone AGM (Score: 1)
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