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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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Exxon, Shell, BP May Say Profit Fell as Gas, Oil Rally Ended
Business News; Market ResearchExxon Mobil Corp., Royal Dutch Shell Plc and BP Plc may report fourth-quarter earnings fell, the first time the world's three largest oil companies all reported a decline since mid-2002.


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Posted on Wednesday, January 31 @ 20:35:31 PST by Waegari
 
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Most read story about Business News; Market Research:
OPEC IS NO LONGER ABLE TO CONTAIN OIL PRICES
 
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