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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 CO2 State
Enviromental Headlines; Climate ChangeGuest writes:

Texas produces more carbon emissions than most countries, but the state government and business community don't seem too concerned.

If Texas were its own country, it would be the 48th most populous in the world, right between North Korea and Ghana. In terms of landmass, at 268,000 square miles it would be the 40th-biggest. But when it comes to environmental impact, Texas is on par with some of the largest, most industrialized nations on the planet.

Were the Lonestar State to secede from the union it would be the world's eighth-largest emitter of the greenhouse gas carbon dioxide, just behind Canada, with 630 million metric tons spewed into the atmosphere in 2005, according to new figures released this week by the U.S. government's Energy Information Administration. That's actually a reduction of 40 million metric tons since 2003, when Texas was the globe's seventh-largest CO2 contributor. But even though the state is improving, Texas still outpaces the combined emissions of California and Pennsylvania, the states with the second- and third-highest CO2 outputs.


Considering its role in the U.S. economy, it's no surprise Texas ranks as it does. As the nation's leading producer of energy, and with more cattle and oil refineries than any other state, it is essentially America's power plant, gas pump and beef basket. Yes, all those cows play a part. While many environmentalists focus on the methane (another greenhouse gas) produced by cows, the raising of cattle also contributes to CO2 emissions (the burning of fuel to transport cattle and meat, etc.). A study released last summer by Japanese scientists showed that production of just 1 kilogram of beef results in more CO2 emissions than going for a three-hour drive while leaving all the lights on at home. Texas also has the largest petrochemical industry in the country, which churns out a host of consumer products, everything from makeup to motor oil.

But it's not just industry and agriculture that give Texas such an outsize carbon footprint. Texans epitomize America's penchant for overconsumption, so much so that they've even coined their own phrase for superlarge portions: Texas-sized. The state's 23.5 million residents use nearly 3,000 more kilowatt-hours of electricity every year than the average American and a higher percentage of them drive large, gas-guzzling vehicles. Of the 20 million registered vehicles in Texas, one in four is a pickup truck. Of the 245 million vehicles registered in the United States, only 16 percent are pickups, according to the Alliance of Automobile Manufacturers. Last year light trucks made up 61 percent of all new vehicles (both personal and commercial) sold in Texas, compared to just over half of total vehicle sales in the country.

Newsweek

Posted on Friday, February 29 @ 14:43:52 PST by Leanan
 
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