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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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Carbon Storage Comes to Disused Texas Oil Fields
Enviromental Headlines; Climate Change
A short distance from Spindletop oil field, the site of the gusher that triggered the Texas oil rush more than a century ago, scientists have found a purpose for the long-disused underground reservoirs -- as storage for the pollution emitted by burning fossil fuels.

Reuters
Posted on Friday, November 26 @ 17:40:01 PST by admin
 
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Most read story about Enviromental Headlines; Climate Change:
The Natural Gas Crisis: Greens Engineer Another Disaster
 
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