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.
Posted: Wed Jun 02, 2004 11:44 am Post subject: "Future of oil" discussed on PBS Newshour
Did anyone else catch the Newshour last night?
The last segment was a discussion about oil with Daniel Yergin and I think his name was Paul Roberts...not sure, but it was interesting to hear a discussion about peak oil on an (almost) mainstream media broadcast.
Yergin seemed to be of the cornucopian camp (peak in 2040) and free marketeer whereas Roberts advocated a more proactive approach to sensible energy policy, ala making larger investments in renewables.
I'd like to hear other's analysis of the discussion.
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