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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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Corn turns into gold for farmers
Business News; Market ResearchPeepers writes:

Corn soon will be coming out of the nation's ears if U.S. farmers have their way -- enough of the golden kernels to make motor fuel and livestock feed. At least for a year.

The U.S. Department of Agriculture reported Friday that more than 90.4 million acres of farmland are scheduled for corn planting this spring -- up 15 percent over 2006 and the highest since 1944.


John Wallbrown, owner of Deerfield Farms in Portage County, is among those aiming to grow more maize.

"We had 1,300 acres last year," he said. "This year, we are adding another 350 for a total of 1,650. That's over 25 percent more."

Cleveland Plain Dealer

Posted on Saturday, March 31 @ 11:25:23 PDT by Leanan
 
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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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