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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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Kazakhstan buys 8.3% stake in its Kashagan oilfield Oil Field
Production; Extraction; Exploration
Kazakhstan bought a stake in the country’s Kashagan oil field, the second-largest in the world after Saudi Arabia’s Ghawar deposit, as the nation seeks to control the project.

financialexpress.com
Posted on Thursday, March 31 @ 17:01:05 PST by admin
 
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Re: Kazakhstan buys 8.3% stake in its Kashagan oilfield Oil Field (Score: 1)
by pstarr on Thursday, March 31 @ 22:02:11 PST
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2nd largest in the world? I think not. It's a wee Lilliputian field.

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