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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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China: Severe Coal Shortage Worsens
Consumption; Demand; PricesLehyina writes: BEIJING (AFP) - China's breakneck economic growth is causing a dangerous shortage of its most important energy source coal, with potential consequences for the entire world, state media warned.

Scarcity is so severe officials even worry aloud that it could cause social instability among the 1.3 billion Chinese, the China Business Weekly reported.

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Posted on Sunday, February 27 @ 04:34:43 PST by BabyPeanut
 
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Re: China: Severe Coal Shortage Worsens (Score: 1)
by inheritance12 on Thursday, June 01 @ 15:46:02 PDT
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