Item of General Interest
July 25. I received notice today that an article I helped write is available for free download for the next fifty days. The corrected free link for the article is "An Oil Production Forecast for China Considering Economic Limits." The article discusses the possibility that oil prices may not rise endlessly, and evaluates three future price scenarios. Under the "low" scenario (prices remain under $50 per barrel), oil production in China has already peaked.
Monthly Archives: June 2011
We have all read about the standard “fixes” for a governmental debt problem–(1) inflate your way out of the problem, (2) cut programs and/or raise taxes, and (3) restructure debt, perhaps delaying repayment and giving bondholders a “haircut” on promised … Continue reading
The International Energy Association (IEA) announced a plan today to make 60 million barrels of oil available to the market over the next month from the Strategic Petroleum Reserve (SPR), in response to the disturbance in supplies from Libya. Half of … Continue reading
It seems to me that most policymakers have missed some basic issues with respect to our energy problem. One of these is that world oil supply is very inelastic–that is, even with high price, it doesn’t rise much, if at … Continue reading
This is a guest post by Dr. Gary Peters, author of Population Geography. The United Nations warned recently that the global consumption of natural resources could almost triple to 140 billion tons a year by 2050 unless nations take drastic … Continue reading
Over the years, we have become accustomed to a rising standard of living. One of things that has helped this happen is a gradually declining ratio of food costs to total personal expenditures. Energy costs have not followed as clear … Continue reading