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: Fri Jan 04, 2008 6:45 am Post subject: Hello from Norway
Hi a am an 25 y.o. engineer from Norway. I first heard of peak oil this christmas, and is learning more and more about the fascinating, but terrifying facts of peak oil...
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