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.
Joined: Jul 12, 2004 Posts: 132 Location: New Zealand
Posted: Tue Sep 04, 2007 1:40 am Post subject: Re: Peak Oil Investments Forum
New production likely to come onstream in Georgia FSU. Manavi M12 due for an acid frac in Oct by SLM - could hold several billion bbls, Kumisi a gas / condensate well expected to contain >> than 1TCF. Canargo ( Amex CNR )
For DD go to www.investorvillage.com
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