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Monday, January 07, 2008

Plugging the Lacuna in my SPR Argument

I earlier linked to an Investor's Business Daily op ed in which I called for privatizing the Strategic Petroleum Reserve. In that article, I glossed over the exact incentives that would propel private speculators to stockpile oil above ground--rather than cause producers merely to slow their extraction in the present.

Well that hole has been plugged. You may now sleep better at night.

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