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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 Ticking Time Bomb Called Peak Oil
Geology; Reserves; Oil FieldsThere is a bombshell of a problem on its way. It is going to affect each and every one of us and change our very way of life. People will have to start growing their own food, stores will have to be closer and more centralized in suburbs, and transportation will have to be reinvented. That problem is Peak Oil, or energy resource depletion.

So if you think the estimated $3 a gallon this summer is going to be bad, just wait until oil is on a steady decline in the coming years. Enjoy it while it's here, because if somebody doesn't do something about this crisis soon, we're all going to be experiencing problems much worse than inflating gas prices.

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Posted on Friday, April 29 @ 16:03:53 PDT by admin
 
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Peak Oil is a Myth
 
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"Login" | Login/Create an Account | 2 comments | Search Discussion
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Re: The Ticking Time Bomb Called Peak Oil (Score: 1)
by Raxozanne on Friday, April 29 @ 23:49:01 PDT
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Take a deep breath, take a deep breath, don't panic......

Re: The Ticking Time Bomb Called Peak Oil (Score: 1)
by hester40 on Thursday, June 01 @ 02:36:59 PDT
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