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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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When the oil runs out
Geology; Reserves; Oil Fields
Oil is expected to peak by the end of this decade, and finish somewhere between 2030-50. As we slide down the curve, the oil will become gradually hard to extract causing the world to go through times of distress.

Yemen Times
Posted on Tuesday, November 30 @ 15:22:20 PST by admin
 
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Most read story about Geology; Reserves; Oil Fields:
Peak Oil is a Myth
 
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