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: Mon Jun 02, 2008 6:16 pm Post subject: Re: EU: towards a post-carbon society
It is indeed quite an interesting read:
Peak Oil is only mentioned once, but the report as a whole reads like it was written by a PO-aware person who was told he cannot use any negative words:
- economic depression is now called "Growth beyond GDP" ( that is: GDP will not grow or even be less, but we are all happy because we are doing something about CO2 )
- PO and global warming are 'A failure of the market to value the
environment and resources correctly'.
Posted: Mon Jun 02, 2008 9:09 pm Post subject: Re: EU: towards a post-carbon society
dutchcyclist wrote:
It is indeed quite an interesting read:
Peak Oil is only mentioned once, but the report as a whole reads like it was written by a PO-aware person who was told he cannot use any negative words:
- economic depression is now called "Growth beyond GDP" ( that is: GDP will not grow or even be less, but we are all happy because we are doing something about CO2 )
- PO and global warming are 'A failure of the market to value the
environment and resources correctly'.
I'm new to here and am no "economist" by any stretch of the imagination, so I find a lot of these reports hard to read and fully understand. So thanks for the "definitions" for some of the phrases.
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