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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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US: A project for energy independence
Public Policy; Political and Legal News
Modeled after John Kennedy's pledge to put an American on the moon within a decade (which launched the space program) and Dwight Eisenhower's commitment to building the interstate highway system (which launched suburbia), a New Apollo Project would strive for American energy-independence within a decade.

San Diego Union-Tribune
Posted on Monday, June 28 @ 13:51:31 PDT by admin
 
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ARE We Out of Gas Yet?
 
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