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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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We can do this the nice way ... or the nasty way
Consumption; Demand; PricesCarlhole writes: [Look, I hate to say it, but I need to say it.

We told you so.

This article sums up the actualization of almost everything we have been writing and warning about for more than a year. I am not happy to have been right. No one at FTW is happy to have been right. There is more really bad oil news coming but even I can only take so much in one day. It can wait.

This is it. It is now a certainty for me that this winter is going to be devastating on any number of fronts. Whatever the United States and the rest of the world look like next spring, it will be almost unrecognizable except maybe for McDonald’s and Starbucks.

I have many important tasks to complete quickly. I have a major article in the works. There is a hugely important Petrocollapse conference in New York on October 5th. We are just finishing our first major DVD since Truth and Lies of 9/11 (out next month). I have previously scheduled lectures in another country and I need to get FTW moved out of Los Angeles as soon as I can.

Pay close attention now, those of you who understand all this. Things will soon start to happen very quickly, perhaps too fast even to report on. So it’s best we all get the lay of this deadly new land as quickly as possible. – MCR]

FTW

Posted on Thursday, September 29 @ 09:48:24 PDT by Leanan
 
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Re: We can do this the nice way ... or the nasty way (Score: 1)
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