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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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The Clusterfuck Nation Chronicle
Public Policy; Political and Legal NewsWaiting for Hurricane Katrina to land on New Orleans this morning, the news reports are ominous. But the photo above (posted on Internet news services) says a lot to me about the current condition of the American people. While we know many of those who sought shelter in the New Orleans Superdome are poor and without means of escape, they end up trapped in the high priced seats passively awaiting a spectacle that may destroy their way of life. Fate becomes just another spectator sport.
     It seems possible to me that we will be seeing gas station lines all over America within the week.


Kunstler.com
Posted on Tuesday, August 30 @ 13:06:56 PDT by stu
 
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ARE We Out of Gas Yet?
 
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