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: May 20, 2004 Posts: 235 Location: Sonoma County, Northern California
Posted: Tue Jul 13, 2004 8:09 pm Post subject: I think the truth about Saudi oil will unfold within a year.
There is lots of speculation now, even rumors of U.S. plans for a military takeover over of the small area where the big oil fields are should the House of Saud fall - and the king is old and frail.
The instability of Saudi Arabia certainly must be a factor in the U.S. moving it's mideast military bases to Iraq.
If you read my post on Dr. Bakhtiari, you will be even more convinced that middle east oil reserve data is extremely inaccurate.
You cannot post new topics in this forum You cannot reply to topics in this forum You cannot edit your posts in this forum You cannot delete your posts in this forum You cannot vote in polls in this forum
News
Discussions
Resources
Members
Forum FAQ
Search
Usergroups
Profile
Log in to check your private messages
Log in
