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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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The Greatest Story Never Told?
Geology; Reserves; Oil Fields This report, which was written for oil industry insiders and cost a whopping $32,000 per copy, predicted that global oil production will peak around the year 2000 and decline to 25% by 2025.

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Posted on Friday, April 30 @ 23:04:14 PDT by admin
 
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Most read story about Geology; Reserves; Oil Fields:
Peak Oil is a Myth
 
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