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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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South Africa: 'No quick fix to Eskom energy crisis'
Consumption; Demand; PricesThe Cape Town Regional Chamber of Commerce and Industry has appealed to businesses to re-examine the way in which they use energy in order to save electricity.

The demand for power is steadily increasing and Eskom has asked householders to switch off geysers and other appliances during the evening peak hour.

Chamber president Janine Myburgh said on Tuesday it was clear that there would be no "quick fix" as Eskom simply could not generate enough power to meet the needs of the growing economy and maintain healthy reserve capacity.

It would be several years before new base-load power stations were in operation. "In the circumstances, it makes sense for companies to do energy audits and find ways to use less electricity.

IOL

Posted on Wednesday, January 31 @ 04:03:00 PST by waegari
 
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