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.
You can bet there will be some type of government mandated rationing of some sort when PO hits. Everybody likes to advocate the "free market" system. However that's only true when there's an ample supply and lots of competition to keep prices low. Once things get crazy and the price goes skyhigh all of a sudden people give up on capitalism and advocate Communistic approaches like "price controls" which ultimately leads to rationing.
Cube, You say "people" will give up on capitalism. I'm sure they will, but corporations won't give up on them, nor will they turn their backs on a system that has done so much for them. The general consensus may not amount to much in the future. Your post indicates you think you're living in a capitalist democracy that will become a social democracy, when things get rough. Wrong on both counts.
Cube, You say "people" will give up on capitalism. I'm sure they will, but corporations won't give up on them, nor will they turn their backs on a system that has done so much for them.
Corporations are made up of people as well. It remains to be seen what side they will fall on.
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