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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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The end of civilization and the extinction of humanity
Public Policy; Political and Legal News...Oil supply -- at the level of the field, county, state, country, or world -- follows a bell-shaped curve; the top of the curve is called "Peak Oil," or "Hubbert's Peak." We passed Hubbert's Peak for world oil supply and began easing down the other side about two years ago. We'll fall off the oil-supply cliff next year. Because this country mainlines cheap oil, it is easy to envision the complete collapse of the U.S. economy within a decade. The Great Depression will seem like the good old days when unemployment approaches 100% and inflation is running at 1000% per year.


Obviously, this is a very good thing … for the world's cultures and species, other than our own. After all, in the name of economic growth we have ripped minerals from the Earth, often bringing down mountains in the process; we have harvested nearly all the old-growth timber on the continent, replacing thousand-year-old giants with neatly ordered plantations of tiny trees; we have hunted species to the point of extinction; we have driven livestock across every almost acre of the continent, baring hillsides and engendering massive erosion; we have plowed large landscapes, transforming fertile soil into sterile, lifeless dirt; we have burned ecosystems and, perhaps more importantly, we have extinguished naturally occurring fires; we have spewed pollution and dumped garbage, thereby dirtying our air, fouling our water, and contributing greatly to the warming of the planet; we have paved thousands of acres to facilitate our movement and, in the process, have disrupted the movements of thousands of species.

As I wrote in one of my recent books, the problem is not that the road to Hell is paved with good intentions -- it's that the road to Hell is paved. We have, to the maximum possible extent allowed by our intellect and never-ending desire, consumed the planet and therefore traded in tomorrow for today. And we keep making these choices, every day, choosing dams over salmon, oil over whales, cars over polar bears, death over life.

Nature Bats Last

Posted on Thursday, August 30 @ 11:19:47 PDT by Leanan
 
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ARE We Out of Gas Yet?

 
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