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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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editorial: Japan warns Russia: hiccup in Sakhalin energy project could harm relations
Public Policy; Political and Legal News Japan has warned Russia that its cancellation of an important permit for the Sakhalin-2 energy fields, in the Russian Far East, could damage their relations, and called for the development of the fields to proceed smoothly.

Russia has revoked an environmental permit for a Royal Dutch Shell-led consortium to develop the fields, halting all work on the 20 bln-usd project.

Two Japanese companies together have 45 pct of the Sakhalin-2 project.

Posted by waegari on Tuesday, September 19 @ 04:01:13 PDT (459 reads)
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editorial: The Petrodraft
Public Policy; Political and Legal News Over the last three years, the United States of America has reengaged itself in war, further committing its unparalleled military power to "planetary control" of the world's economic and social life.

Left Hook

Posted by aaron on Sunday, July 25 @ 14:19:47 PDT (893 reads)
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