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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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MARCH ASPO Newsletter
Geology; Reserves; Oil FieldsThere's a Country assessment of Oman, some Reserve Reporting, some stuff on upgrading the depletion model, but no major changes to the core ASPO predictions.

Newsletter39.doc on asponews.org
Posted on Wednesday, March 17 @ 23:47:54 PST by admin
 
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Peak Oil is a Myth
 
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