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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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Time to prepare for the coming peak in world oil production
Geology; Reserves; Oil FieldsI recently saw the movie "The End of Suburbia" at the University of Alaska Fairbanks, sponsored by the Interior Alaska Outpost of the Post Carbon Institute (Alaska.postcarbon.org). The Post Carbon Institute is a national grass-roots organization that educates citizens about the imminent oil crisis.

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Posted on Monday, December 27 @ 06:04:35 PST by aaron
 
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Peak Oil is a Myth
 
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