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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: JimisJim who wrote (181352)	11/14/2013 11:32:34 AM
From: Bearcatbob	Respond to of 206159

Jim, Good points in a most mind stimulating discussion. IMO a very liquid - ie quickly available - strategic petroleum reserve is necessary as long as we depend on imports for any meaningful portion of our supply. Undrilled reserves would not provide any timely relief in a time of supply disruption. What we have seen is that an above market price of oil driven by OPEC has lead to a swell of supply. It looks like the XOM forecast of lower oil prices long term is coming true. That said, my take on the issue is that allowed to work - markets will drive the technological solutions to any energy supply issues - with the caveat that step function interruptions need other means of mitigation - eg a strategic reserve. In a sense, markets and technology are solving the transportation issue created by blockage of Keystone. While the activists may have their feel good moments - events are making them irrelevant with the only harm being done to the workers who will not get the pipeline construction jobs - but then there are rail road workers who cheer their Pyrrhic success.