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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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All for Oil
Public Policy; Political and Legal Newsdwenergyman writes: The permanent military bases and Pentagon sized American consul offices in Iraq are being built because 60% of the world's crude comes from an increasingly hostile Middle East, and this percentage of the supply of the world's most valuable commodity will increase over the next decade, and because control of Iraq is the decisive high ground for control of the Middle East.

Al-Jazeerah
Posted on Saturday, November 27 @ 09:55:02 PST by admin
 
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