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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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Ending Addiction to Oil Will Strengthen National Security, Reduce Energy Costs
Public Policy; Political and Legal NewsBy House Majority Leader Steny H. Hoyer

Last October, an independent task force of the Council on Foreign Relations - which included John Deutsch, the former Director of Central Intelligence, and James Schleisinger, the former Secretary of the Departments of Defense and Energy - warned: 'The lack of sustained attention to energy issues is undercutting U.S. foreign policy and U.S. national security.'

Indeed, in his State of the Union Address in 2006, President Bush acknowledged: 'America is addicted to oil.'


However, simply recognizing our addiction - and its nexus to our national security and future prosperity - is insufficient. We must take bold action to break that addiction.

Thus today, this new Democratic majority demonstrates its commitment to moving our nation toward energy independence with this comprehensive package of proposals.

Southern Maryland Online

Posted on Friday, June 29 @ 15:23:01 PDT by leanan
 
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ARE We Out of Gas Yet?

 
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