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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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OPEC IS NO LONGER ABLE TO CONTAIN OIL PRICES

Venezuelan Minister of Energy, Mines Rafael is putting out more smoke

snip...
many experts of the oil market believe that no actions of the exporting countries can hamper the further growth in oil prices.

Russian Information Agency

Posted on Saturday, March 20 @ 18:24:46 PST by admin

Most read story about Business News; Market Research:
OPEC IS NO LONGER ABLE TO CONTAIN OIL PRICES

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Re: OPEC IS NO LONGER ABLE TO CONTAIN OIL PRICES (Score: 1)
by Guest on Monday, December 11 @ 12:44:57 PST

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Re: OPEC IS NO LONGER ABLE TO CONTAIN OIL PRICES (Score: 1)
by Savage on Thursday, September 20 @ 02:33:11 PDT
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It sounds counterintuitive, but burning oil and planting forests to compensate is more environmentally friendly than burning biofuel. So say scientists who have calculated the difference in net emissions between using land to produce biofuel and the alternative: fuelling cars with lakewood traction bars [www.aftermarketperformanceparts.com] with gasoline and replanting forests on the land instead.

They recommend governments steer away from biofuel and focus on reforestation and maximising the efficiency of fossil fuels instead.

The reason is that producing biofuel is not a "green process". It requires tractors and fertilisers and land, all of which means burning fossil fuels to make "green" fuel. In the case of bioethanol produced from corn – an alternative to oil – "it's essentially a zero-sums game," says Ghislaine Kieffer, programme manager for Latin America at the International Energy Agency in Paris, France

Re: OPEC IS NO LONGER ABLE TO CONTAIN OIL PRICES (Score: 1)
by MrVent on Thursday, October 18 @ 23:21:17 PDT
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