[Steve]

Leanan reports in the news forum that heating oil pre-purchases are recommended in this article:$this->bbcode_second_pass_quote('', ' ')
CNN's Money section has a story on how to save money on energy:

http://money.cnn.com/2004/08/09/pf/saving/willis_tips/index.htm

One of their tips is to buy your heating oil now. Yup, even though prices are near record highs. I guess they aren't expecting the price to go down.

[Steve]

Federal Oil Hoarding
Here's an article about the U.S. Strategic Petroleum Reserve and public policy from the conservative Cato Institute:

http://www.cato.org/dailys/06-02-04-2.html

$this->bbcode_second_pass_quote('', 'T')he Clinton administration made a strategic blunder by disclosing just how much would be sold each day and when the sales would stop. To keep speculators off balance, neither the maximum daily amount to be sold nor the duration of sales should be disclosed. That is also the fatal flaw in the plan of New York's Democratic Sen. Charles Schumer, to release 1 million barrels of oil per day for 30-60 days. That is like playing poker with all your cards showing.

[rerere]

$this->bbcode_second_pass_quote('Anonymous', ' ')Does it not make sense for a crude oil supplier to withhold supplies (or simply build inventories) in the rational expectation of a higher sales price at a future date?

[Guest]

What I find more likely is that some oil rich countries will just decide that they are going to keep the rest of the their oil for themselves. Maybe they won't stop exporting altogether but cut output by 50% say.

Obviously there is an overwhelming reason to do so.

I reckon the price hike that this would cause could offset the fact that they are selling less volume of oil.

In fact, I'm surprised nobody has thought of this already. Oh wait the Russian government is effectively taking over Yukos. Hmmm, the Russians don't have any scores to settle with the oil consuming world do they ? nah, we're safe on that one.

[Iraq information minister]

$this->bbcode_second_pass_quote('Anonymous', '
')
In fact, I'm surprised nobody has thought of this already. Oh wait the Russian government is effectively taking over Yukos. Hmmm, the Russians don't have any scores to settle with the oil consuming world do they ? nah, we're safe on that one.

[bignev]

Isn't this what Chavez is doing in Venezuela and giving Bush a big reason for going after him?

[SlipperySlope]

It appears the Chinese want a reasonable sized petroleum reserve. This could be hoarding in advance of their rapidly growing demand.

http://english.people.com.cn/200410/10/eng20041010_159641.html

[Barney]

I'd rather hoard oil then dollars. And, I'm sure all the oil producers are afraid of the consumer countries fire power, especially the US. But, how long is it going to take to even get 2mb/day from Iraq? There has to be a limit to how many pipelines the US can guard. Is the US even winning in Iraq? Maybe the idea of invasion to obtain oil is not that easy to do, even with all of the fire power. Or, will it be a replay of the Romans and the Sabines?

[Scooter_Rider]

At what point will oil exporting countries start hoarding oil for themselves, and stop most oil exports? Well, anyone?

[eric_b]

$this->bbcode_second_pass_quote('Scooter_Rider', 'A')t what point will oil exporting countries start hoarding oil for themselves, and stop most oil exports? Well, anyone?

[JayHMorrison]

$this->bbcode_second_pass_quote('Scooter_Rider', 'A')t what point will oil exporting countries start hoarding oil for themselves, and stop most oil exports? Well, anyone?

[azur]

It will vary from country to country as internal demand exceeds internal production. For Russia, for example, the following link indicates around 2010 as the tipping point. For others, it will come sooner.

$this->bbcode_second_pass_quote('', 'T')he low energy effectiveness of the Russian economy may lead to a situation where Russia will be forced to stop all exports of energy sources such as oil and gas as early as 2010, Igor Bashmakov, the executive director of the Russian Center for Energy Efficiency, said on Tuesday, Dec. 7.

[Keith_McClary]

$this->bbcode_second_pass_quote('Scooter_Rider', 'A')t what point will oil exporting countries start hoarding oil for themselves, and stop most oil exports? Well, anyone?

[Keith_McClary]

$this->bbcode_second_pass_quote('Scooter_Rider', 'A')t what point will oil exporting countries start hoarding oil for themselves, and stop most oil exports? Well, anyone?

[Doly]

I think it will be different for OPEC and non-OPEC countries.

In non-OPEC countries, it's going to happen very soon. In OPEC countries, it will take a bit longer.

Free trade doesn't mean that countries aren't allowed to use all their resources for internal consumption. They actually do. Do the States export any oil?

[JohnDenver]

Personally, I think hoarders are the scum of the earth. If a hard energy crunch hits, we'll all have to move to a wartime footing, and the sacrifices will have to be shared. We will all have to work together in the national interest, and hoarders will need to be socially and criminally sanctioned.

Back in the seventies oil crisis, John Denver (the folk singer) had some private gasoline tanks installed at his posh home in the mountains. He thought he was above ordinary people, and he got flamed royale when the story leaked out. And that's as it should be. Hoarders and profiteers make life more difficult for everybody and sap the strength of the nation during war time.

[DomusAlbion]

So is investing in one's future hoarding?

If I choose to buy a 2 year supply of food for my family and then use that food for my family does that make me the scum of the earth or someone who is prudent?

[Trab]

Hoarding is human nature, unfortunately. The elites will hoard and get away with it, as always. It will be the common hoarders who will be in trouble.

Speaking of which, anyone looking for future employment can look at careers in areas such as police, security, or military/paramilitary. If TSHTF, there will be a major demand for all of these areas.

[smallpoxgirl]

Quit eyein my stash hippie!

[Lehyina]

Noah would have to take the prize for being the ultimate hoarder but God smiled on him as he climbed into the ark.