Item of General Interest
April 14. I am back at home, after four weeks in China. I am even mostly over jet lag. I had a very interesting time there, thanks to Prof. Feng, his students, and his many friends.
Monthly Archives: January 2013
United States oil consumption in 2012 will be about 4.7 million barrels a day, or 20%, lower than it would have been, if the pre-2005 trend in oil consumption growth of 1.5% per year had continued. This drop in consumption … Continue reading
There is ample evidence that spikes in oil prices leads to recession, at least in the US, which is an oil-importing nation. James Hamilton has shown that 10 out of the last 11 US recessions were associated with oil price … Continue reading