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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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Alaska Official Quits, 6 Others Follow After Flap with Gov. Over Pipeline
Public Policy; Political and Legal NewsAlaska Gov. Frank Murkowski said Thursday Natural Resources Commissioner Tom Irwin agreed to quit his job after questioning the legality of the governor's negotiations with producers on an agreement for a gas pipeline to the Lower 48 states.

Six other high ranking members of the Department of Natural Resources also quit their jobs after hearing of Irwin's departure. All six referred in their resignations letters to Irwin's "dismissal."

Rigzone

Posted on Monday, October 31 @ 10:15:15 PST by Carrie
 
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