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.
It's near the bottom; the "Crude Awakening" segment was near the end of the show.
Paula had two congressmen on, one Republican, and Democrat. Amazingly, the GOP guy from Texas was the one who actually mentioned not enough supply and the necessity of conservation. Though he also implied that if we just "let the market work" it would fix the problem.
Tonight, the topic is Bush, Kerry, and the politics of petroleum.
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