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: Tue Jan 31, 2006 4:38 am Post subject: Welcome
Discussions related to peakoil & local topics for the Houston Texas Area. _________________ "We shall not cease from exploration
And the end of all our exploring
Will be to arrive where we started
And know the place for the first time." - TS Eliot*
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