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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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Presentations from NAPE 2004
Geology; Reserves; Oil FieldsNAPE Expo is the largest oil and gas exploration and production event in the world. IHS Energy now has presentations available online.

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Posted on Sunday, March 21 @ 23:57:04 PST by admin
 
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Peak Oil is a Myth
 
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