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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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SK: Expert wants more research in sustainable development
Public Policy; Political and Legal NewsThe Korean government should increase incentives to businesses for environmental protection and invest more in technological research for sustainable development, an expert said yesterday.

Chung Hyun-sik, professor of economics at Sungkyunkwan University, told a forum that Korea has made progress in harmonizing economic development and environmental protection, but still has much room to improve.

The four-day international symposium opened yesterday. Experts from China, Japan and Taiwan will discuss ways for sustainable development in the region.

Korea has a real problem in reducing energy intensity, Chung said.

"Korea's energy intensity, pesticide and fertilizer use, and CO2 emissions are among the highest in the Organization for Economic Cooperation and Development," Chung said.

Korea Herald

Posted on Thursday, November 30 @ 19:20:16 PST by waegari
 
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Consumption; Demand; PricesEnviromental Headlines; Climate Change

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