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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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Biofuels and the Rise of Nationalistic Environmentalism
Hydrocarbon AlternativesGuest writes:

The rapid expansion of biofuel production worldwide has paralleled a dramatic rise in food prices. The expansion of biofuels has been supported by a wide spectrum of people, from environmentalists looking for "sustainable" energy to conservatives wanting to reduce U.S. dependency on foreign oil. With food riots spreading, the U.S. remains committed to an expansion of biofuel.

Biofuels are part of a larger movement toward green capitalism, the idea that we can scale down our energy use through technologies that improve the efficiency of the consumer society. Biofuels are emblematic of the dark side of green capitalism, which is focused almost entirely on the well being of the global upper class. Biofuels are a form of nationalistic environmentalism that is creating a foundation on which more extreme nationalists will try to wed the racist tools of yesterday with a version of "sustainability" that will include the destruction of the global poor.


Real solutions are both impossibly difficult and simple. The cooperative societies in which most humans have always lived are capable of supporting a high standard of living with far less resources than the individualized, consumer society. Enlightened political leadership would be helpful, but we can create a sustainable society without it. Indeed, we have to.

The Oil Drum

Posted on Friday, May 16 @ 12:18:17 PDT by Leanan
 
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