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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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Matt Simmons To Be Online Thurs - Submit Your Questions!
Production; Extraction; ExplorationOilsNotWell writes:

Have questions about Live Online? Find answers in our new interactive FAQ.

In his recently published book "Twilight in the Desert: The Coming Saudi Oil Shock and the World Economy," author Matthew Simmons argues that Saudi Arabia will in coming decades be unable to maintain its current level of oil production, with large-economic repercussions. Simmons also examines the political and social climate of the nation and its desire to conceal the potential shortfalls from global consumers.

Matthew Simmons, an oil industry analyst and CEO of Simmons & Company International, will be online Thursday, August 4, at 3 p.m. ET to discuss Saudi oil supplies.

Submit your questions and comments before or during today's discussion.

Washington Post

Posted on Sunday, July 31 @ 11:05:03 PDT by Carrie
 
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Does Thermal Depolymerization Solve the Problem of Peak Oil?

 
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