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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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Big oil collides with traditional life in Saudi desert
Public Policy; Political and Legal News
Saudi society was molded by the self-sufficient and egalitarian virtues of desert life, yet today it's in thrall to fast food, cell phones and gas-guzzling SUVs. The country's oil wealth has paid for an imported culture of conspicuous affluence, typified by modernistic shopping malls and highways worthy of southern California.

Chicago Sun Times
Posted on Sunday, May 30 @ 15:59:16 PDT by admin
 
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Re: Big oil collides with traditional life in Saudi desert (Score: 1)
by mimosa77 on Wednesday, May 31 @ 04:40:22 PDT
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