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: Sat Jun 28, 2008 1:16 pm Post subject: Re: Derivation of the Logistic model of oil depletion
cipi604 wrote:
Numbers don't lie.
Indeed, and liars don't count.
I liked this comment I got on TheOilDrum:
Quote:
"WHT analysis would have been important in the 1920-1930's but its 2008 now and they seems to have done quite well without the dispersive model."
My response was: A common theme among many observers. For example, Big Bang Theory seems to be a hot topic among scientific cosmologists and the Stephen Hawking fans. But some genius comes along and says "Why is the Big Bang important? That happened billions of years ago, and I can't buy gas for less than $4 a gallon today."
So it's all a matter of perspective. We still want to understand how we got ourselves into this mess.
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