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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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Get Ready for the Peak Experience

Thanks to the collusion of industry, financial and government interests, the coming decline in oil production is portrayed as so impossibly far off in the future that there is no sense talking about it – but talk we must.

Alternet

Posted on Monday, August 30 @ 17:39:15 PDT by admin

Most read story about Geology; Reserves; Oil Fields:
Peak Oil is a Myth

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