Listen to the following article. What is hoarding? Which countries are hoarding? Why? What impact does the hoarding on prices? Is there any danger? What are the US and England considering doing? Why? What would you advise the president? What would you do if were advising one the countries who are hoarding?
11 Comments
Omar G.
3/27/2012 10:53:32 am
Hoarding is a disorder characterized by difficulty discarding items that appear to most people to have little or no value. South Africa, India, Thailand, and China are hoarding incase prices get higher, it all adds to pressure on prices. If people buy hundreds of gallons of gas/oil now because they think it will raise in the future then they saved themselves plenty of cash. The Chinese are concerned of the possibility of a supply shock, stock piling will increase the premium for oil. Britain and the U.S confirmed to release some of their stock piles to drive prices down. I think the president should just pick an average price and stay within reasonable prices. What would I do?...I'de probably charge people a big enough fee so they'll change their minds about hoarding.
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Alex Dunn
3/28/2012 02:06:05 pm
Hoarding is the act stock piling one or many types of goods, inorder to keep until the current price of the good(s) goes up to make money, or to be able to have some thing that no one else has when it is no longer made or available, to then sell, or then to be in control. China, India, South Africa and Thailand are some of the countries that are hoarding oil.These countries are hoarding because they see that oil prices are raising and they want to keep the oil now that it is cheaper to save money, and even make money back by selling the oil once the prices raise. These actions will put pressure on prices to raise. The dangers in stock piling is that prices could become so huge that no one will be buying oil.The US and England are considering releasing some of their stock piles to help lower prices. I would advise the president to release some of some of the oil but just to the US so that we could find a way to finally end our addiction to oil. I would tell the some of the larger countries that are hoarding to stop hoarding so much, and to help out the smaller, weaker countries by first making any amendments to their countries and then helping the ones around them.
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Alec Faulkner
3/29/2012 02:28:39 am
In the case of this article hoarding is refering to countries saving their oil to be able to sell it at a greater price. The countries hoarding the oil are China, South Africa, India and Thailand. Countries are hoarding the oil to drive prices up and be able to get the most money for their oil. The price goes up because the supply is reduced, with minimal supply people will pay more for less oil. It can be dangerous if the prices get so high that nobody will want to buy foreign oil and the U.S. might have to invade more 3rd world countries to steal their oil. U.S. and England are releasing some of their stockpiles of oil in an effort to increase supply and drive oil prices down. I would tell the president to start invading countries holding oil, to scare other countries into releasing their stockpiles of oil into the market. If i was advising a country hoarding oil, i would tell them to release their oil stockpiles in hopes of the economy getting better, because people will be putting their money into things other than oil.
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Jesus Lopez
3/29/2012 06:00:38 am
Hoarding is to keep something even though you don't use it. In this case, hoarding is used as a strategy for countries so that they don't have to pay as much for oil so that they can bring their oil and gas prices down. The countries that are hoarding are China, India, South Africa, and Thailand. Hoarding causes the prices to go down for the countries that are hoarding and the prices to go up in the other countries due to the limit in supply. The US and England are releasing some of their stockpiles to drive oil prices down. I would advise the president and other countries just to simply release their oil stockpiles to make the prices lower for everyone.
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Emily Griffin
3/29/2012 11:24:24 am
Hoarding is the act of accumulating a good and then holding it so it may be preserved for future use. In this specific case many countries are stockpiling crude oil. South Africa, India, China, Thailand are some of the main countries hoarding crude oil. The countries are worried about the rising prices and a supply shock. They are stock piling their own production as well as other outside supplies. Hoarding adds to pressure on price and continues to drive those prices up in other places around the world. Hoarding will lower the prices for the countries who are doing the hoarding. The United States and England have been debating releasing some of their own stockpiles. If they were to do this it could potentially decrease the prices of oil around the world. I would advise the President not to release any of the stockpiles and encourage him to instead look into alternative energy sources that could put the United States ahead of the world when an oil epidemic occurs. If I were advising the countries who are hoarding I would recommend they stop stockpiling, and keep what they have, so they too can be prepared for any future oil industry shortages. I would then suggest they look into other alternative energy sources so they can stop being so dependent on oil, and find another source to power their nations.
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Kenzy Hansen
3/29/2012 01:21:45 pm
Hoarding is stock piling an excessive amount of something; in this case, crude oil. The countries that are involved in hoarding oil are South Africa, India, China, and Thailand. Their concern is that the price of oil is going to keep increasing, making it difficult for them to obtain it, so they're collecting large amounts at the current price. Also, if prices continue to rise they can make their money back by selling some of the excess that they have. Hoarding creates an even more limited amount of oil for other countries causing the price to increase even more, but allowing it to stay the same or decrease in the countries involved in hoarding. The US and England are considering releasing some of their own stockpiles to try to drive oil prices down. I feel that releasing the stockpiles would only be a temporary fix, and that instead we should be looking into alternative forms of energy.
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Kristina Ericson
3/29/2012 02:28:12 pm
The term 'hoarding' can be defined as the excessive stockpiling, or gathering, of goods, and preserving it in large quantities for possible future appliance. In the case of this article, many of the world's leading economic countries are hoarding 'crude oil.' These countries include South Africa, Thailand, India, and China (the second largest consumer of oil in the world). For these countries, stockpiling oil supplies will essentially lower the costs of oil within each respective country. For other countries, however, hoarding oil will continue to drive oil prices skyward. The United States and England are currently on the fence concerning the hoarding of oil. If these two superpowers were to begin stockpiling oil supplies, the cost of oil would essentially lower around the world, but only temporarily. Instead, I believe that it is due time to begin researching alternate forms of energy, and generate more awareness and use of alternative resources.
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Alec Fetzer
3/29/2012 03:49:10 pm
In the article, hoarding is stockpiling resources for future use; in this case the resource being hoarded is oil. South Africa, India, Thailand, UK, and China are all participating in this stockpiling along with the US. Hoarding can be beneficial to countries that stockpile their own crude oil, who are most likely expecting oil prices to continue to rise. But in return, hoarding actually inflates the price of oil for everyone. By taking out a large percentage of the oil produced from the everyday market, the supply decreases while the demand is still very high, this causes the prices to rise to what we see them at today. The US and England are trying to resolve this issue by releasing some of their own hoarded oil, in attempt to drive the current prices down. I believe this is a good move because not only does it drive the price of oil down, but also other countries might follow the US and England, which could help resolve this issue. I would try to convince other hoarding countries to also release some of their own stockpiled oil to get us out of this time of tremendously priced oil for the everyday person.
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Jacob Gallagher
3/29/2012 04:11:21 pm
Hoarding is when oil companies keep large amounts for their owwn country, they do this in the case that oil prices rise up farther than they already are. Almost every country is hoarding oil, including China, the second biggest oil consumer in the world. Countries are hoarding incase oil prices skyrocket further than they already are. Hoarding increases the price of oil, mainly because their is so less fewer amounts of oil for any country to sell to the public. The U.S. and England are trying to release some of their stock piles to help lower the price of oil down, this still may not be enough to make China stop hoarding oil. I would tell the president to keep releasing oil too the public unless he comes up with anything better to do. I would advise other countries to stop hoarding oil so that the price can go down in America and also across the planet.
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Tyler Kelly
3/30/2012 04:02:50 am
Hoarding is keeping objects or materials to yourself. Africa, Thailand, India, and China are stockpiling oil in case prices rise. It could be dangerous if any countries try to take oil from a stockpiling country. Prices are going up because these countries are stockpiling. The US and England are considering releasing some of their oil stockpiles to help drive prices down. I think the president is doing the right thing. If I was advising a hoarding country, I would probably hoard oil but not as much so we could still make money.
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Brionna Gonzalez
4/2/2012 02:48:12 am
Hoarding in this case means that countries all over the world like, South Africa, India, China and Thiland, keep oil even though they don't use it in case the prices get even higher. The hoarding for these countries is to lower prices for each individual country. But stock piling is increasing the price for oil because they're taking so much out of everyday, so supply is then low. The US and England are trying to make the prices go down by releaing some of their stock piles. I think the president is doing a good job to try and bring down the prices. I might advise hoading to be at a minimum so that the supply is still kept and based at a reasonable price.
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