109 comments on Hubbert Theory says Peak is Slow Squeeze.
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109 comments on Hubbert Theory says Peak is Slow Squeeze.
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GAIA Host Collective
Regarding the SPRs, I don't think there's any chance of them being filled. If energy supply is contracting while worldwide demand is increasing, prices will shoot up, and it would be political suicide to further reduce supply to put it into a reserve for what? - for an emergency? I think 5+$ gasoline will be considered emergency enough as is challenges our economy. There will be pressure to release the reserve (as we have been doing already), not fill it. Last week's numbers showed further decline in SPR despite the congressional authorization for an increase, and the 16-17 million barrels removed since Katrina were drawn down during a time of much less stress than what's coming.