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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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ConocoPhillips Chairman Says Oil Will Last
Geology; Reserves; Oil Fields
Archie Dunham, chairman of ConocoPhillips Inc: "The world can rely on fossil fuels for the bulk of its energy needs for the next 100 years"

Yahoo - AP
Posted on Thursday, April 29 @ 15:59:34 PDT by admin
 
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Re: ConocoPhillips Chairman Says Oil Will Last (Score: 1)
by Pops on Friday, April 30 @ 01:05:50 PDT
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From a guy with $80 Million in stock options for Conoco... Suprise!
Pops

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