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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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ARE We Out of Gas Yet?
Public Policy; Political and Legal NewsRonald Bailey questions David Goodstein, Colin Campbell and others in his refreshingly opptimistic article on peak oil.

Lynch's new [pdf] study "The New Pessimism about Petroleum Resources," pokes holes in forecasts of imminent oil doom. Lynch points out that the supply of oil is determined not only by geologic factors, but also by political, economic, and technological ones.
Posted on Sunday, February 29 @ 20:09:51 PST by admin
 
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ARE We Out of Gas Yet?

 
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Re: ARE We Out of Gas Yet? (Score: 1)
by HarvKilljoy on Tuesday, November 29 @ 10:58:26 PST
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Ok, Mike Lynch is officially an idiot in my book... I read enough of the article he'd written to find that part about production being generated by demand and well- that's just plain idiocy.


According to Mr. Lynch, then, the more of a resource we need, the more we will somehow magically have.  Ok, I really, really need a mortgage payment... uh, hrm... still no magical, mystical paycheck deposited into my checking account. 


Maybe it's the resource at fault... I really need some heat in my home.  My furnace is fired by natural gas to generate the heat to warm the water that is circulated through the radiators in my home.  That gas comes from a finite source, the gas deposits in the Earth itself.


The production of the gas has already peaked in North America, according to much of the info I've already read on this and other websites- but according to Mr. Lynch- more need automatically means more will just somehow mystically, magically be produced.  The lunacy of such thinking should be pretty obvious.


HARV




Re: ARE We Out of Gas Yet? (Score: 1)
by Savage on Thursday, September 20 @ 01:57:52 PDT
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EUROPE'S efforts to meet its Kyoto protocol targets for greenhouse gas emissions are heading for trouble after Germany, the driving force behind the continent's emissions reductions for the past 15 years, slammed on the brakes and kyb shocks [www.aftermarketperformanceparts.com].
Germany is Europe's largest emitter, and the move jeopardises the EU's promise to cut emissions overall by 8 per cent between 1990 and 2010. Until now, the EU has allowed newer members such as Spain and Ireland to increase emissions, while Germany, the UK and other countries have been forced to make steeper cuts. The UK remains on target after announcing proposals last week that should ensure a 16 per cent emissions reduction between 1990 and 2010.




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