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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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OPEC takes back seat as oil prices run riot
Business News; Market ResearchOPEC oil producers appear to have lost control of a surge in prices that ministers say is being driven by forces out of the cartel’s hands.

International News, London
Posted on Thursday, March 25 @ 14:45:34 PST by admin
 
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Most read story about Business News; Market Research:
OPEC IS NO LONGER ABLE TO CONTAIN OIL PRICES
 
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