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: Thu Sep 02, 2004 4:18 pm Post subject: Learning from history
So, we've seen civ's go the way of the Dodo before. Rome fell, Egypt stopped building triangles, and the Greeks stopped making statues. I don't recall reading about any survivalist camps on the outskirts of the Ottoman empire though. So, who were the people who fared best after the fall of all of the great empires of the past? (Excluding the barbarian hoards of course.)
My bet is that the rich in these societies might have had to give up some of their luxuries, but still came out on top in the long run.
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