Monthly Archives: January 2013

Why is US Oil Consumption Lower? Better Gasoline Mileage?

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

Posted in Financial Implications, Oil Policy | Tagged , , , , , , , , , , , , | 92 Comments

How High Oil Prices Lead to Recession

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

Posted in Financial Implications | Tagged , , , , , , , , | 85 Comments

Ten Reasons Why High Oil Prices are a Problem

A person might think from looking at news reports that our oil problems are gone, but oil prices are still high. In fact, the new “tight oil” sources of oil which are supposed to grow in supply are still expensive … Continue reading

Posted in Financial Implications | Tagged , , , , | 51 Comments

2013: Beginning of Long-Term Recession?

We have been hearing a lot about escaping the fiscal cliff, but our problem isn’t solved. The fixes to date have been partial and temporary. There are many painful decisions ahead. Based on what I can see, the most likely … Continue reading

Posted in Financial Implications, Food issues, Planning for the Future | Tagged , , , , , , , , , , , , , , , , | 158 Comments