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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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Congressman Roscoe Bartlett Discusses Peak Oil
Production; Extraction; ExplorationCarlhole writes:

Congressman Roscoe Bartlett met with President George W. Bush at the White House on June 29 for an extensive discussion about peak oil--the end of cheap oil. Congressman Bartlett declined to discuss or characterize any of his private conversation with the President, but said that he was very happy about the meeting.

Congressman Bartlett has discussed peak oil extensively in the past seven weeks in a series of Special Order speeches to the U.S. House of Representatives. Copies of text, charts and video of peak oil speeches and presentations are posted on Congressman Bartlett’s website at http://www.bartlett.house.gov.



CongressmanRoscoeBartlett
Posted on Thursday, June 30 @ 10:49:15 PDT by Carrie
 
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Re: Congressman Roscoe Bartlett Discusses Peak Oil (Score: 1)
by Peakoil_Tarzan on Thursday, June 30 @ 11:03:36 PDT
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As a citizen of the US of A, I am grateful to Rep. Bartlett for taking it upon himself to do this.  I just hope he understands that good ol' GW Bush ain't gonna do jack___.  Period.


Well... short of invading Iran, Venezuela, SA, or Alberta.




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