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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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U.S. Rebukes OPEC for Rejecting Oil Output Request
Production; Extraction; ExplorationOPEC, Bush, Kuwait, The Bookings Institution, and more

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Posted on Wednesday, March 31 @ 21:04:07 PST by admin
 
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Most read story about Production; Extraction; Exploration:
Does Thermal Depolymerization Solve the Problem of Peak Oil?
 
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