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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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One in Six Countries Facing Food Shortage
Enviromental Headlines; Climate ChangeOne in six countries in the world face food shortages this year because of severe droughts that could become semi-permanent under climate change, UN scientists warned yesterday.

In a stark message for world leaders who meet in Gleneagles next week to discuss global warming, Wulf Killman, chairman of the UN food and agriculture organisation's climate change group, said the droughts that have devastated crops across Africa, central America and south-east Asia in the past year are part of an emerging pattern.

"Africa is our greatest worry," he said. "Many countries are already in difficulties ... and we see a pattern emerging. Southern Africa is definitely becoming drier and everyone agrees that the climate there is changing. We would expect areas which are already prone to drought to become drier with climate change."

The Guardian

Posted on Wednesday, June 29 @ 19:16:53 PDT by Carrie
 
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