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 Apr 23, 2008 8:54 am Post subject: Useful resource for Peak oil researchers
Hi all,
I'm pretty new to the concept of peak oil, but there's an interesting article on the subject on this website, www.ifandp.com, on the published research section. Entitled "Five minutes to Midnight", it's a summary of the UK Energy Institute's one day meeting back in November 2007. It's still pretty relevant and there's some interesting discussion. You do have to register to get at, but the site's free and the digital magazine also has some good info on oil prices.
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