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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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Forget OPEC. The next cartel may export drinking water.
Geology; Reserves; Oil Fields
consider that less than 2.5 percent of the world's water is fresh. That vital resource is threatened by pollution, waterborne disease, and shifts in rain patterns caused by global warming, recent studies show. All of which, in some eyes, leaves the world on the verge of a scramble by private companies and countries vying for rights to available water.

Christian Science Monitor
Posted on Thursday, December 30 @ 12:28:49 PST by admin
 
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Peak Oil is a Myth
 
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