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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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Coal to oil independence becoming a fading dream
Production; Extraction; ExplorationWith the Democrats taking center stage in policy making, and crude oil prices stuck in the low 60s range, the possibility of a major synthetic fuel alternative development is fading fast.


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Posted on Thursday, November 30 @ 14:18:23 PST by Waegari
 
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Does Thermal Depolymerization Solve the Problem of Peak Oil?
 
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Re: Coal to oil independence becoming a fading dream (Score: 1)
by VMA131Marine on Thursday, November 30 @ 19:55:01 PST
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This guy just does not get it.
It makes no sense to replace one depleting resource with another, especially since US coal reserves won't last much longer than oil if used to replace oil.
Then there's that whole greenhouse gas problem and coal to oil creates a lot of CO2.

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