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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 Saudi Arabian Oil Miracle — Can It Continue to Grow
Production; Extraction; ExplorationFocusing on Saudi Arabia, Simmons said all of its super giant oil fields were now “extremely mature.” Its five super giant oil fields were discovered between 1940 and 1965, and these produced approximately 90 percent of all Saudi oil. Arab News - Saudi Arabia
Posted on Saturday, February 28 @ 20:33:39 PST by admin
 
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Does Thermal Depolymerization Solve the Problem of Peak Oil?
 
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Production; Extraction; Exploration

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