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« BP Investigating Sequestration Options | Main | Fuel Cell Generator Sets Record Efficiency »

February 23, 2006

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I've recently read "A Thousand Barrels a Second" by Peter Tertzakian. Great book.

He makes an anology, starting with our memories of the 70's and 80's fuel crisises. He reminds us that people were so worried about future supplies that they would get in line with 3/4s of a tank. The hording througout the system confounded the problem.

He goes on to say that whenever there is "oil trouble" commercial users of oil respond the same way ...

It makes me think that maybe we've had a continuing stream of bad news and that has kept people buying. Not enough buyers have backed off, to let prices fall.

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